{"id":30874,"date":"2022-05-23T05:18:40","date_gmt":"2022-05-23T05:18:40","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/05\/23\/hsbc-suspends-banker-over-climate-comments-reports-say\/"},"modified":"2022-05-23T05:18:40","modified_gmt":"2022-05-23T05:18:40","slug":"hsbc-suspends-banker-over-climate-comments-reports-say","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/05\/23\/hsbc-suspends-banker-over-climate-comments-reports-say\/","title":{"rendered":"HSBC suspends banker over climate comments, reports say"},"content":{"rendered":"
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HSBC has reportedly suspended an executive who accused central bankers and other officials of exaggerating the financial risks of climate change.<\/b><\/p>\n<\/div>\n

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Last week, Stuart Kirk, a head of the bank’s responsible investment team, said: “There’s always some weirdo telling me about the end of the world.”<\/p>\n<\/div>\n

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Over the weekend, HSBC boss Noel Quinn took to social media to say he “disagreed” with the comments.<\/p>\n<\/div>\n

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The company declined to comment on reports that Mr Kirk was suspended.<\/p>\n<\/div>\n

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Mr Kirk, global head of responsible investing in the bank’s wealth management division, has been suspended over an investigation into a speech he gave at an event last week, according to the Financial Times (FT), which first reported the story.<\/p>\n<\/div>\n

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Based in London, his role includes considering the impact of investments on environmental, social and governance issues.<\/p>\n<\/div>\n

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    HSBC came under pressure to sack Mr Kirk after he gave the presentation entitled “Why investors needn’t worry about climate risk” at an FT conference on Thursday.<\/p>\n<\/div>\n

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    In the speech, he downplayed the risks of major flooding and said he needed to spend his time “dealing with something that’s going to happen in 20 or 30 years’ time.”<\/p>\n<\/div>\n

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    During the 15-minute speech at the FT Moral Money Summit, Mr. Kirk said, “Climate change is not a financial risk to worry about.”<\/p>\n<\/div>\n

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    “Unfounded, strident, partisan, self-serving, apocalyptic warnings are ALWAYS wrong,” reads a slide shown as part of the presentation.<\/p>\n<\/div>\n

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    Mr Kirk did not immediately respond to a BBC request for comment.<\/p>\n<\/div>\n

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    Since the speech, senior HSBC executives have spoken out about the comments.<\/p>\n<\/div>\n

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    In a LinkedIn post on Saturday, the bank’s CEO, Noel Quinn, said he “didn’t agree at all” with Mr Kirk’s comments. <\/p>\n<\/div>\n

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    “They are not consistent with HSBC’s strategy and do not reflect the views of senior management at HSBC or HSBC Asset Management,” added Mr Quinn.<\/p>\n<\/div>\n

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    On Monday, HSBC declined to comment to the BBC on reports that Mr Kirk had been suspended.<\/p>\n<\/div>\n

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    Instead, a spokesman shared a statement from HSBC Asset Management chief executive Nicolas Moreau, calling climate change “one of the gravest emergencies facing the planet.”<\/p>\n<\/div>\n

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    “HSBC Asset Management is committed to driving the transition to a sustainable global economy and has a fiduciary responsibility to ensure its clients’ funds are managed for positive long-term environmental and social outcomes,” added Mr. Moreau.<\/p>\n<\/div>\n

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    According to the FT, both the topic and the content of the presentation have been agreed within the company.<\/p>\n<\/div>\n

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    HSBC has reportedly suspended an executive who accused central bankers and other officials of exaggerating the financial risks of climate change. Last week, Stuart Kirk, a head of the bank’s responsible investment team, said: “There’s always some weirdo telling me about the end of the world.” Over the weekend, HSBC boss Noel Quinn took to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-30874","post","type-post","status-publish","format-standard","hentry","category-business"],"yoast_head":"\nHSBC suspends banker over climate comments, reports say - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2022\/05\/23\/hsbc-suspends-banker-over-climate-comments-reports-say\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HSBC suspends banker over climate comments, reports say\" \/>\n<meta property=\"og:description\" content=\"HSBC has reportedly suspended an executive who accused central bankers and other officials of exaggerating the financial risks of climate change. 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