Bank investigating Stuart Kirk’s conference speech deriding flooding risks and climate warnings from UN and Bank of England
Highlights
- Stuart Kirk referred to climate warnings as’shrill’ and ‘unsubstantiated’ during a conference speech.
- Head of responsible investing has been suspended pending an internal investigation.
- HSBC has struggled to burnish its green credentials, despite pledges to achieve net zero emissions by 2050.
- Climate activists welcomed Kirk’s suspension but said HSBC had questions to answer about extent to which his views were known or supported within the bank.
- HSBC chief executive Noel Quinn denounced the remarks, insisting that they did not reflect the bank’s views on climate crisis.
- He said: “I do not agree – at all – with the remarks made at last week”