Jul 7, 2022

HSBC banker quits after 'nut job' climate speech

Stuart Kirk, the bank's global head of responsible investing, was reportedly suspended in May after he said in a speech: "There's always some nut job telling me about the end of the world." Mr Kirk's role, which is based in London, involved considering the impact of investments on environmental, social and governance issues. HSBC came under pressure to investigate Mr Kirk after he gave the presentation entitled "Why investors need not worry about climate risk" at a conference. During the 15-minute address, Mr Kirk said climate change was "Not a financial risk that we need to worry about". HSBC declined to comment when contacted by the BBC.Following Mr Kirk's speech, the bank's group chief executive Noel Quinn said he did not agree "At all" with his remarks, adding they were "They are inconsistent with HSBC's strategy and do not reflect the views of the senior leadership of HSBC or HSBC Asset Management".

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