HSBC is an investor in Glencore which is mainly a resource mining company. Thus, coal only makes up a small share of Glencore’s business model. Yet, they are the world’s 8th largest coal producer. Recently Glencore was applauded by climate-concerned investors for agreeing to set a cap of 150 million tons for its annual coal production. In actual fact this still leaves plenty of space for a production increase: Glencore’s 2018 coal production was 129 million tons. Glencore is involved in multiple scandals, ranging from alleged money laundering and corruption in Nigeria, Venezuela and the Democratic Republic of Congo to expanding a mine in Australia where Glencore has already accidentally dumped 63 truckloads of toxic waste near a river.