HSBC accused over Paraguay deforestation funding
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HSBC Holdings PLC has been accused by Global Witness of funding deforestation in Paraguay's Gran Chaco region, where 75,000 hectares of forest have been cleared in the past three years.
December 10, 2024 | 2:45 pm
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HSBC Holdings PLC is accused of funding deforestation in Paraguay, potentially impacting its reputation and raising legal and environmental concerns.
The accusation by Global Witness could harm HSBC's reputation, especially among environmentally conscious investors. Legal and regulatory scrutiny may follow, potentially affecting the stock negatively in the short term.
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