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HSBC suspends banker after climate risk comments-FT

Stock Markets May 22, 2022 05:20PM ET

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HSBC suspends banker after climate risk comments-FT

© Reuters. FILE PHOTO: The logo on the building of HSBC's London headquarters appears through the early morning mist in London's Canary Wharf financial district, Britain March 28, 2017. REUTERS/Russell Boyce

(Reuters) - HSBC Holdings (NYSE:HSBC) has suspended its head of responsible investing pending an internal investigation after he said central bank policymakers and other global authorities are exaggerating the financial risks of climate change, the Financial Times reported on Sunday citing people with knowledge of the process.

HSBC senior banker Stuart Kirk made the comments at a conference hosted by the FT on Thursday, drawing criticism from climate activists.

According to the FT, the title of the presentation - "Why investors need not worry about climate risk" - had been set two months earlier and had been posted ahead of the event on the conference's website.

HSBC CEO Noel Quinn said in a LinkedIn post on Saturday that his bank will not be distracted from its ambition to lead the global economy in the transition to net zero.

An HSBC spokesperson said the company could not comment on individual employees.

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Comments (5)

SC Arnold May 22, 2022 11:20PM ET

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If not for climate change how would we have gotten out of the ice age?

1 0

Juan Pinzon May 22, 2022 6:38PM ET

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Climate change is not a scientific concern because scientists know that the planet has been changing since it exists; climate change is a political issue to keep the status quo of power.

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Meru Pet May 22, 2022 6:38PM ET

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not status quo. It is a Trojan horse to push planned economy aka communism

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Roger Miller May 22, 2022 5:59PM ET

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Of course there is financial risk, but it's from government policies with regard to climate change. Just as the economic damage caused during the pandemic was a result of government policies, not the actual pandemic.

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Meru Pet May 22, 2022 5:50PM ET

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what ? he dared to have an opinion? does he believe that he is in a democracy?

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Matt Goodwin May 22, 2022 5:21PM ET

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In other words… HSBC bank publicly and unapologetically says if you have an opinion other than the opinion we allow you to have, you will be canned.Glad to see this so i know to never allow them to manage any of my money.

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mg bishton May 22, 2022 5:21PM ET

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That’ll break their hearts

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Matt Goodwin May 22, 2022 5:21PM ET

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mg bishton dont be so emotional lol

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Rob Whalen May 22, 2022 5:21PM ET

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HSBC bought n paid for from worthless libs and fear mongerers

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Chris Cummins May 22, 2022 5:21PM ET

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Rob Whalen I think they fired him for looking stupid. Had he said the world was flat and he was speaking for HSBC...same result. You cannot represent a company and spout lies and misinformation and expect them to be okay with it!

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mark johnson May 22, 2022 5:21PM ET

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I agree. Too many corporations getting into peoples personal beliefs. Not like this one guy was going g to bring down the whole climate alarmist kabal with his PowerPoint. Lol

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