HSBC, one of the largest banks in the world, suspended a top executive after he roundly criticized global lawmakers’ climate agenda, the Financial Times reported.
Stuart Kirk, who leads responsible investing for HSBC’s asset management division, ripped central banks and governments for using increasingly alarmist rhetoric when it comes to climate change and pushed back against the idea of climate risk to financial institutions during remarks at a Financial Times conference in London Thursday. Following his comments, the U.K.-based bank suspended Kirk and will conduct an internal investigation to determine a permanent response, people with knowledge told the FT.
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