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Case Code: FINC120
Case Length: 20 Pages 
Period: 2009-2017    
Pub Date: 2017
Teaching Note: Available
Price:Rs.600
Organization : HSBC
Industry : Banking and Financial Services Institutions
Countries : Colombia
Themes: Sustainable Finance  
Responsible Finance  
Corporate Sustainability  
Case Studies  
Business Strategy
Marketing
Finance
Human Resource Management
IT and Systems
Operations
Economics
Leadership & Entrepreneurship

Financing Drummond in Colombia: Is HSBC Risking Sustainability Goals?

 
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INTRODUCTION

 
In April 2016, campaigners and shareholders in global banking giant HSBC Holdings plc (HSBC) grilled Stuart Gulliver (Gulliver), HSBC Group Chief Executive, at the annual general meeting (AGM) on the bank’s £3.7 billion investments in Drummond Limited, a Colombian coal mining company accused of murder and human rights abuses.

Just a month earlier, HSBC had received accreditation to work with the United Nations’ Green Climate Fund (GCF) in response to its commitment to develop and implement environmental standards for its funding projects.....

 

 
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