A leading HSBC banker who moaned about "nut jobs" telling him "about the end of the world" has been suspended while an investigation takes place, it has been reported.
Stuart Kirk spoke at the Financial Times ' Moral Money Summit Europe conference last week and accused central bankers and policymakers of overstating the financial risks of climate change.
Mr Kirk, who is global head of responsible investing at the bank’s asset management division, said he was fed up fo people trying to “out-hyperbole the next guy”.
He said: "I work at a bank that's being attacked by crypto, we've got regulators in the US trying to stop us, we've got the China problem, we've got a housing crisis looming, we've got interest rates going up, 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 hence.
"The proportionality is completely out of whack."
During the presentation on Thursday, he told the audience he disagreed completely with other presenters warning that we won't survive, adding that the audience barely looked up from their phones, and didn't go running out of the room.
Mr Kirk’s comments drew anger from environmentalists and were likely embarrassing for HSBC, as it sponsored the conference and was promoted on the event’s website as a strategic partner.
According to the Financial Times, the title of the presentation - “Why investors need not worry about climate risk” - had been agreed two months earlier and was publicised on the official conference website in the run-up to the event.
Over the weekend, chief executive Noel Quinn and Nuno Matos, head of HSBC’s wealth and personal banking business, wrote social media posts attempting to distance themselves from the comments.
Mr Quinn wrote on LinkedIn: “I do not agree, at all, with the remarks made at [this] week’s FT Moral Money Summit.
“They are inconsistent with HSBC’s strategy and do not reflect the views of the senior leadership of HSBC or HSBC Asset Management.
“We have a lot of work to do, and I am determined that our team won’t be distracted by last week’s comments.”
Mr Natos added: “In complete agreement with Noel Quinn, the transition to net zero is of upmost [sic] importance to us and we will strive for ways to help our clients on this journey.”
An HSBC spokeswoman said the company could not comment on individual employees.
