HSBC banker quits after 'nut job' climate speech

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An HSBC executive resigned after accusing central bankers of exaggerating the financial risks of climate change.

According to reports, Stuart Kirk, the bank's global head of responsible investing, was suspended in May after he said in a speech that there was always some nut job telling him about the end of the world.

His position was unsustainable because of his comments.

He said that a cancel culture destroyed wealth and progress.

The impact of investments on environmental, social and governance issues were considered by Mr Kirk.

He said in his resignation statement that he had only ever tried to do the best for his clients and readers in his 27 years of work.

He said that the bank's behavior towards him since his speech at the Financial Times conference made his position unsustainable. The old world is funny.

Mr Kirk gave a presentation titled "Why investors need not worry about climate risk" at a conference.

He made light of the risks of major floods and said that he had to spend his time looking at something that would happen in 20 or 30 years.

Mr Kirk said that climate change was not a financial risk that needed to be worried about.

The slide said "Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are always wrong."

He said that he didn't care if Miami is six metres underwater in 100 years. Amsterdam has been underwater for a long time.

Mr Kirk stated on Thursday that investing was hard and that saving our planet was also hard.

There are differing opinions on both. There is an open and honest debate. Companies need to walk the talk if they want to be diverse and speak up. Wealth and progress are destroyed by a cancel culture.

There is no place for virtue signaling in finance.

"What is arguably the greatest sustainable investment idea ever conceived" was the announcement made by Mr Kirk.

He said he would keep pushing with a sharp stick the nonsense, hypocrisy, sloppy logic and group-think inside the mainstream bubble of sustainable finance.

When contacted by the BBC, HSBC refused to speak to them.

The comments made by Mr Kirk do not reflect the views of the senior leadership of HSBC or HSBC Asset Management, according to the bank's chief executive.