HSBC suspends banker who joked ‘who cares if Miami is underwater?’

Stuart Kirk’s presentation is claimed to have been pre-agreed by bosses (Image: HSBC)

HSBC has suspended a senior banker who claimed warnings concerning the local weather disaster had been ‘unsubstantiated’ throughout an incendiary presentation, it has been claimed.

The top of accountable investing on the metropolis big questioned whether or not anybody cared about cities being underwater in future.

Now Stuart Kirk is anticipated to be investigated following the occasion in London final week – regardless of the feedback reportedly being pre-agreed with bosses.

He's stated to have advised a convention that there's ‘all the time some nut job telling me concerning the finish of the world’ and confirmed slides which argued that ‘unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS improper’.

Mr Kirk additionally claimed central bankers have exaggerated international warming dangers, based on the Monetary Instances.

Now the financial institution is below strain to sack him following the presentation, which was titled: ‘Why buyers needn't fear about local weather threat’.

The banker accused officers on the United Nations (UN) and the Financial institution of England of overstating the monetary dangers of local weather change.

His feedback come after the most recent dire warnings from specialists concerning the state of the setting worldwide, with the head of the UN warning final month that the world is on a ‘quick observe to local weather catastrophe’ following a devastating landmark report.

However shocked attendees on the Monetary Instances’ Ethical Cash convention had been reportedly advised by Mr Kirk final Thursday: ‘Who cares if Miami is six metres underwater in 100 years? Amsterdam has been six metres underwater for ages and that’s a very nice place’.

HSBC’s chief govt has strongly denounced the feedback.

Noel Quinn wrote on LinkedIn this weekend that ‘they're inconsistent with HSBC’s technique and don't mirror the views of the senior management of HSBC or HSBC Asset Administration’.

He added: ‘I don't agree – in any respect – with the remarks made eventually week’s FT Ethical Cash Summit.

‘Our ambition is to be the main financial institution supporting the worldwide economic system within the transition to internet zero.

HSBC’s prime officers have distanced themselves from the feedback, however the theme of the presentation was agreed internally (Image: AFP)

‘Now we have a variety of work to do, and I'm decided that our group received’t be distracted by final week’s feedback’.

Nonetheless, it's understood that the theme of the presentation was given an inner inexperienced gentle.

HSBC has not but issued a proper assertion on the reported suspension of Mr Kirk and stated it ‘can not touch upon particular person workers’.

However Nicolas Moreau, the chief govt of the banl’s asset administration division, additionally distanced himself from Mr Kirk’s views.

He stated in an announcement final Friday that ‘the remarks made on the FT Ethical Cash occasion don't mirror the views of HSBC Asset Administration nor HSBC Group in any method’.

HSBC, which has been focused by teams like Extinction Insurrection over its local weather credentials, is more likely to see the feedback as notably embarrassing on condition that it has been in search of to spice up its inexperienced status.

Buyers had lately voting to again a brand new local weather pledge.

Mr Kirk was appointed to move up HSBC’s accountable investing unit in July 2021 – a job that includes trying on the dangers to investments of environmental, social and governance (ESG) points.