BRITAIN’S largest bank HSBC axed its climate commitment to reach net zero across it operations and supply chain by 2030 today.

Announcing its annual results, the lender said it will now aim to meet this goal by 2050 as well as a review of its 2030 targets to reduce emissions caused by its financing of polluting firms.

HSBC, which previously acknowledged its “heavy financed emissions footprint,” expects to publish the results of the 2030 targets review later this year.