Image source, Financial Times LimitedA senior executive at HSBC has been suspended after accusing central bankers of exaggerating the financial risks of climate change.
Stuart Kirk, a leader in the bank's responsible investing team, said last week that there was always some nut job telling him about the end of the world.
At the weekend, the boss of HSBC posted on social media that he did not agree with the comments.
The firm wouldn't comment on the reports of Mr Kirk being suspended.
The Financial Times reported that Mr Kirk, the global head of responsible investing at the bank, was suspended pending an investigation into a speech he made at an event last week.
His role is to consider the impact of investments on environmental, social and governance issues.
HSBC came under pressure to fire Mr Kirk after he gave a presentation at a conference about why investors should not worry about climate risk.
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 is going to happen in 20 or 30 years.
Mr Kirk said that climate change is not a financial risk that we need to worry about.
There is a slide that says "Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are always wrong."
He said "Who cares if Miami is six metres underwater in 100 years?" Amsterdam has been six metres underwater for a long time.
Mr Kirk didn't respond to the request for comment.
Senior HSBC executives have spoken out about the comments.
In a post on Saturday, the bank's group chief executive said he did not agree with Mr Kirk's comments.
They do not reflect the views of the senior leadership of HSBC or HSBC Asset Management.
The transition to net zero is of paramount importance to HSBC, according to Nuno Matos, chief executive of wealth and personal banking.
On Monday, HSBC declined to comment on reports that Mr Kirk had been suspended.
Climate change is one of the most serious emergencies facing the planet, according to a statement by HSBC Asset Management chief executive Nicolas Moreau.
HSBC Asset Management is committed to driving the transition to a sustainable global economy and has a fiduciary responsibility to ensure its clients' money is managed for positive long-term environmental and social outcomes.
The theme and content of the presentation had been approved by the company.
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