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hsbc-exec-suspended-after-‘who-cares-if-miami-is-six-metres-underwater-in-100-years?’-remarks

HSBC exec suspended after ‘who cares if Miami is six metres underwater in 100 years?’ remarks

By BizTech Weekly May 23, 2022

Noel Quinn, HSBC CEO, said remarks made by Stuart Kirk ‘are inconsistent’ with the bank’s strategy. Stuart Kirk also said: ‘Who cares if Miami is six metres underwater in 100 years? Amsterdam has been 6 metres underwater for ages, and that’s a really nice place. We will cope with it.’ The bank has suspended its asset management arm’s global head of responsible investing following comments he made about climate change at a London conference last week. Mr Kirk also criticised central bankers and policymakers for overstating climate risks by trying to ‘out-hyperbole’ in a speech titled ‘Why investors need not worry about climate risk’ He was speaking at a Financial Times Moral Money conference in London . . .

Read more at www.fnlondon.com

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