hsbc pulls back commitments in green finance. this is the bloomberg. ♪ >> welcome back.walks back commitments on climate change saying it's time to stop penalizing carbon footprints. after criticism by republicans. an analyst who follows it joins me. how significant are these alliances? ryan: thank you for having me. most banks were members of the alliance representing trillions of lending dollars and being a member signal they were at least committed to the idea of net zero and driving the exodus is one, results of the trump administration that's been putting pressure on banks and then some banks say the targets is a little bit too prescriptive , the problems outweigh the benefits. tom: what is it mean for green financing? brian: the impact is muted so we are tracking $1.6 trillion going into energy technology $.90 of renewable financing for every dollar and even banks that left are committing to disclosing love metric, very keen before they step away to say they are focusing on client demand. saying there is still demand for the transition. elliot management and bp sug

so four years ago we acquired two banks, hsbc's east coast branches and then also investors bank to get 200 branches in new york and a million people there with the expectation as tough as that things were in new york that this city's don't stay down forever they have great romita morial and people step into the void and ultimately there's course correction. >> so similarly when we looked at california huge economy you know san francisco not doing so great but ultimately that'll settle itself out and so there's these sign always things go up and things go down if you make the investment when things are down you just expect things will improve. so very great to see you here. i haven't totally sorted in new york yet but i think that's also going to be on the mend and you know, we're also look down at florida and as another big state and a big economy and a lot of our northeastern customers have second homes down there. >> so we're making a big investment there. so we need to kind of elevate and look at who we were historically and then where's the action across the country? where's the dy