Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 113

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 113
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 on estimated underlying numbers aligned to our refined basis of preparation. † Data is subject to independent third-party limited assurance, in accordance with ISAE 3000/ISAE 3410. For further details, see our Financed Emissions and Thermal Coal Exposures Methodology and independent third-party limited assurance report, which are available at www.hsbc.com/who-we-are/esg-and- responsible-business/esg-reporting-centre. For further details of our approach to financed emissions, see ’Our Approach to financed emissions’ on page 46 .

Asset Management policy HSBC Asset Management’s Energy and Thermal Coal Policies have been developed in support of HSBC Group’s net zero ambition. In its capacity as a discretionary investment manager and under its Energy Policy, HSBC Asset Management engages and assesses the transition plans of oil and gas, and power and utilities issuers responsible for around 70 per cent of relevant emissions based upon all listed equity and corporate fixed income managed within its major investment hubs. Its Thermal Coal Policy is developed in support of the transition from thermal coal- fired power and thermal coal mining (collectively ‘thermal coal’) within the 2030/40 timelines set out in the HSBC Thermal Coal Phase-Out Policy, and is intended to help meet the dual objectives of phasing out thermal coal within science-based timeframes and of energy transition in more coal-reliant economies. The Energy Policy and Thermal Coal Policy complement one another and are reviewed at least annually. For further details of the energy policy, see www.assetmanagement.hsbc.co.uk/-/media/ files/attachments/common/energy-policy-en.pdf. For further details of the thermal coal policy, see www.assetmanagement.hsbc.co.uk/-/media/ files/attachments/common/coal-policy-en.pdf.

| HSBC Holdings plcAnnual Report on Form 20-F | 61 |

Social Building inclusion and resilience We play an active role in opening up a world of opportunity for our customers, colleagues and communities by connecting across our international networks to help build a more inclusive and resilient society.

At a glance Inclusion is key to opening up a world of opportunity. It involves a commitment to identifying and addressing barriers that may stop people from accessing opportunities because of who they are or where they are from. Inclusion goes hand in hand with resilience. We aim to help people build the capabilities they need to achieve their goals and to deal with the challenges they face, so we are focused on delivering products, services and education that support our colleagues, customers and communities. Col