The UK’s advertising regulator has banned two HSBC advertisements for being “misleading” about the company’s work to tackle climate change.
The Advertising Standards Authority (ASA) said the banking giant can no longer run the ads which promoted its plans to reduce harmful emissions.
The watchdog said that the posters “omitted material information” about HSBC’s activities.
It marks the ASA’s first action against a bank for so-called “greenwashing”.
A HSBC spokesperson told the BBC that “The financial sector has a responsibility to communicate its role in the low carbon transition to raise public awareness and engage its customers.”
“We will consider how best to do this as we deliver our ambitious net zero commitments,” they added.
-BBC