HSBC Holdings Plc | ESG & Fairness Resolution (Environmental, Social & Governance policy) at HSBC Holdings Plc

Status
Filed
AGM date
Previous AGM date
Proposal number
16
Resolution details
Company ticker
HSBA
Lead filer
Midland Clawback Campaign
Resolution ask
Report on or disclose
ESG theme
  • Social
ESG sub-theme
  • Decent work
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Financials
Company HQ country
United Kingdom
Resolved clause
THAT the Board of HSBC Holdings plc shall ensure that the occupational pensions of former employees of Midland Bank plc, and their dependants, are administered in a manner consistent with the Company’s stated ESG and equality commitments. Accordingly, the Board shall: 1. review the operation and impact of the Midland pension provisions for State Deduction (also known as “Clawback”); 2. assess whether these provisions result in disproportionate detriment to women, part-time workers, or low-income pensioners; and 3. engage with the committee of the Midland Clawback Campaign Group to provide costed options for reform or abolition of the clawback provisions; 4. bring forward to the 2027 Annual General Meeting a report setting out a plan as agreed with the Midland Clawback Campaign Group to eliminate or mitigate such detriment in line with the Company’s ESG and equality objectives.

DISCLAIMER: By including a shareholder resolution or management proposal in this database, neither the PRI nor the sponsor of the resolution or proposal is seeking authority to act as proxy for any shareholder; shareholders should vote their proxies in accordance with their own policies and requirements.

Any voting recommendations set forth in the descriptions of the resolutions and management proposals included in this database are made by the sponsors of those resolutions and proposals, and do not represent the views of the PRI.

Information on the shareholder resolutions, management proposals and votes in this database have been obtained from sources that are believed to be reliable, but the PRI does not represent that it is accurate, complete, or up-to-date, including information relating to resolutions and management proposals, other signatories’ vote pre-declarations (including voting rationales), or the current status of a resolution or proposal. You should consult companies’ proxy statements for complete information on all matters to be voted on at a meeting.