Posted on 05/23/2022 5:11:04 AM PDT by Oldeconomybuyer
HSBC has reportedly suspended a senior executive who accused central bankers and other officials of exaggerating the financial risks of climate change.
Last week, Stuart Kirk, a leader in the bank's responsible investing team, said: "There's always some nut job telling me about the end of the world."
At the weekend, HSBC's boss Noel Quinn posted on social media that he did not agree "at all" with the comments.
HSBC came under pressure to sack Mr Kirk after he gave the presentation entitled "Why investors need not worry about climate risk" at a conference on Thursday.
In the address he made light of the risks of major floods and said that he had to spend his time "looking at something that's going to happen in 20 or 30 years".
During the 15-minute address at the FT Moral Money Summit, Mr Kirk said "Climate change is not a financial risk that we need to worry about."
"Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS wrong," a slide shown as part of the presentation said.
Later in the presentation, he said: "Who cares if Miami is six metres underwater in 100 years? Amsterdam has been six metres underwater for ages and that's a really nice place."
Mr Kirk did not immediately respond to a BBC request for comment.
Since the speech, senior HSBC executives have spoken out about the comments.
(Excerpt) Read more at bbc.com ...
Go woke, go broke.
This is Soviet style tactics. Brand anyone that is against you as crazy.
Didn’t they launder cartel drug money? Yeah. Thought so.
The body must be purified of any thought criminals. Thought criminals must be unemployed and/or jailed for wrong think.
The problem wasn’t the data. The problem was the employee opposed the approved narrative. He went outside the GroupThink.
Communists are not real big on freedom of thought.
Apparently he was referring to his boss in this statement.
HSBC is a signatory to the ‘Equator Principles,” an ESG vehicle that commits member financial institutions to abide by the prescribed narrative in their financial decision making and policy implementation. The “nutcases“ run the corporation and do as they are told.
“Didn’t they launder cartel drug money? Yeah. Thought so.”
That’s what they got caught doing. :)
Mr. Kirk demonstrated advanced understanding of climate change danger. The fact-free scientismists demonstrate their rejection of facts.
If ‘climate change’ is real, stop lending.
Problems solved.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.