HSBC suspends banker after climate risk comments, Financial Times reports

The brand on the constructing of HSBC’s London headquarters seems by way of the early morning mist in London’s Canary Wharf monetary district, Britain March 28, 2017. REUTERS/Russell Boyce

Might 22 (Reuters) – HSBC Holdings (HSBA.L) has suspended its head of accountable investing pending an inner investigation after he stated central financial institution policymakers and different international authorities are exaggerating the monetary dangers of local weather change, the Monetary Occasions reported on Sunday citing folks with information of the method.

HSBC senior banker Stuart Kirk made the feedback at a convention hosted by the FT on Thursday, drawing criticism from local weather activists. learn extra

In keeping with the FT, the title of the presentation – “Why buyers needn’t fear about local weather danger” – had been set two months earlier and had been posted forward of the occasion on the convention’s web site.

HSBC CEO Noel Quinn stated in a LinkedIn submit on Saturday that his financial institution won’t be distracted from its ambition to guide the worldwide economic system within the transition to web zero. learn extra

An HSBC spokesperson stated the corporate couldn’t touch upon particular person staff.

Reporting by Michael Erman; Enhancing by Daniel Wallis

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