Comment on HSBC suspends senior exec after he called warnings about the climate crisis 'unsubstantiated' and 'shrill,' a report says

HSBC suspends senior exec after he called warnings about the climate crisis 'unsubstantiated' and 'shrill,' a report says

HSBC said it would not comment on individual employees' situations.NurPhoto / Contributor Getty Images HSBC has suspended an executive after comments he made about the climate crisis, per the FT. Stuart Kirk played down warnings about the climate crisis in a presentation on Thursday. HSBC's group chief executive, Noel Quinn, criticized the remarks in a LinkedIn post on Sunday. HSBC has suspended a senior executive after remarks he made about the climate crisis, the Financial Times reported on Sunday.Stuart Kirk, HSBC's head of responsible investing in the company's asset management division, referred to warnings about the climate crisis as "unsubstantiated" and "shrill" on a slide in a presentation at the FT's Moral Money Summit last Thursday.The presentation, which was viewed by Insider, was called "Why investors need not worry about climate risk." Kirk said in the presentation that throughout his 25-year career in finance, there was "always some nut-job telling me about the end of the world." He also drew a link between the climate crisis and Y2K, a widespread belief that a computer program issue was going to cause havoc at the turn of the millennium.His presentation drew criticism, including from HSBC's group chief executive, Noel Quinn, for appearing to dismiss the global risks of climate change.

 

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