Central bank policymakers and other global authorities are exaggerating the financial risks of climate change, a senior HSBC banker in charge of sustainable investments said in remarks that drew criticism from climate activists.
"Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS wrong," Stuart Kirk, HSBC's head of responsible investing, wrote on a slide accompanying his presentation at a conference in London on Thursday alongside quotations from bodies such as the United Nations and Bank of England warning of the risks.
Nicolas Moreau, Chief Executive of HSBC Asset Management, told Reuters via a spokesperson that Kirk's remarks did not represent the company's views. Kirk's comments drew criticism from activist groups that have campaigned for HSBC and other financial firms to reduce their funding of the fossil fuels industry and toughen their climate pledges.
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