Methodist coalition files complaint against HSBC over mining financing

A coalition of Methodist churches and faith organizations from Britain, Ireland, and Colombia has filed a formal complaint against HSBC regarding the bank's financial relationship with the mining company Glencore. The complaint, submitted to British authorities, alleges that mining operations in La Guajira, Colombia, have caused environmental degradation, community displacement, and restricted access to water and healthcare. The coalition is calling for an investigation into whether HSBC’s involvement adheres to OECD guidelines for responsible business conduct.

The World Council of Churches has joined the effort, with General Secretary Rev. Jerry Pillay stating that faith communities have a moral obligation to advocate for climate justice and human dignity. Representatives from the Methodist Church in Great Britain emphasized that investment is not morally neutral, arguing that the banking sector's current pace of change is insufficient to address the human rights and climate concerns linked to their financial portfolios.

In response, an HSBC spokesperson stated that the bank does not comment on specific client relationships but remains committed to its climate-related goals. The bank noted its existing policy to phase out financing for thermal coal mining by 2030 in OECD markets and by 2040 globally, as part of its broader ambition to reach net-zero financed emissions by 2050.