‘Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings ALWAYS wrong’, says HSBC official on climate change impact
A top HSBC banker has claimed global authorities are overplaying the impact of climate change, saying “unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS wrong”.
The banking giant’s head of responsible investing, Stuart Kirk, made his controversial claim during a presentation on a slide during a London conference yesterday.
HSBC said his views did not reflect those of the bank .
He wrote the comments alongside quotes from the UN and Bank of England, warning of risks posed by climate change.
Kirk said the warnings led to his team spending more time than it should on dealing with the issue.
He told the Financial Times-hosted conference, which was posted on Youtube: “We’ve got inflation coming down the pipes and I’m being told to spend time and time again looking at something that’s going to happen in 20 or 30 years, the proportionality is completely out of whack.”
Nicolas Moreau, CEO of HSBC Asset Management, told City A.M: “The remarks made at the FT Moral Money event do not reflect the views of HSBC Asset Management nor HSBC Group in any way.”
The bank said it is “committed to driving the transition to a sustainable global economy” and it “regards climate change as one of the most serious emergencies facing the planet”.
You can watch his presentation here