HSBC Suspends Head of Responsible Investing Stuart Kirk for Conference Comments: Why Investors Need Not Worry about Climate Risk
27th May 2022 | Hong Kong
HSBC has suspended Head of Responsible Investing Stuart Kirk for his presentation remarks at the Financial Times’ Moral Money conference, including “why investors need not worry about climate risk … … looking at something that’s going to happen in 20 or 30 years. Human beings have been fantastic at adapting to change, adapting to climate emergencies, and we will continue to do so. Who cares if Miami is six metres underwater in 100 years? Amsterdam has been six metres underwater for ages and that’s a really nice place.” In his presentation slides in reference to United Nations & Bank of England: “Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS wrong.” HSBC CEO Noel Quinn responded: ”I do not agree – at all – with the remarks made at last week’s FT Moral Money Summit … … They are inconsistent with HSBC’s strategy and do not reflect the views of the senior leadership of HSBC or HSBC Asset Management. Our ambition is to be the leading bank supporting the global economy in the transition to net zero. We have a lot of work to do, and I am determined that our team won’t be distracted by last week’s comments.” Stuart Kirk was a former editor at Financial Times Lex column, and was appointed Head of Responsible Investing (in charge analysing environmental, social and governance (ESG) risks) in July 2021.