Stuart Kirk, a leader in HSBC’s responsible investing team, has been suspended for casting doubt on some of the more hysterical claims made by climate alarmists at a speech he made last week. BBC News has more.
HSBC has reportedly suspended a senior executive who accused central bankers and other officials of exaggerating the financial risks of climate change.
Last week, Stuart Kirk, a leader in the bank’s responsible investing team, said: “There’s always some nut job telling me about the end of the world.”
At the weekend, HSBC’s boss Noel Quinn posted on social media that he did not agree “at all” with the comments.
The firm declined to comment on reports that Mr Kirk has been suspended.
Mr. Kirk, who is global head of responsible investing at the bank’s asset management division, was suspended pending an investigation into a speech he made at an event last week, according to the Financial Times, which first reported the story.
His role, which is based in London, involves considering the impact of investments on environmental, social and governance issues.
HSBC came under pressure to sack Mr. Kirk after he gave the presentation entitled “Why investors need not worry about climate risk” at a conference on Thursday.
In the address he made light of the risks of major floods and said that he had to spend his time “looking at something that’s going to happen in 20 or 30 years”.
During the 15-minute address at the FT Moral Money Summit, Mr Kirk said “Climate change is not a financial risk that we need to worry about.”
“Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS wrong,” a slide shown as part of the presentation said.
Later in the presentation, he said: “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.”
Mr. Kirk did not immediately respond to a BBC request for comment.
Worth reading in full.
If any readers have a copy of Stuart Kirk’s presentation or know how to get hold of it, please get in touch. We’d like to publish it on the Daily Sceptic.
Stop Press: Here is Stuart Kirk’s talk entitled “Why investors need not worry about climate risk“.