Author of the article:
HSBC Holdings CEO Noel Quinn says his bank will not be distracted from its ambition to lead the global economy in the transition to net zero, after a senior executive said central banks had exaggerated the financial risks of climate change.
In a LinkedIn post on Saturday, Quinn said the senior banker’s remarks were “inconsistent with HSBC’s strategy” and “do not reflect the views of the senior leadership of HSBC or HSBC Asset Management.”
At a conference hosted by the Financial Times on Thursday, HSBC’s head of responsible investing Stuart Kirk said central bank policymakers and other global authorities were overplaying the financial risks of climate change, in comments that drew criticism from climate activists.
Quinn reiterated HSBC’s commitment to a net zero future and his post was endorsed by several other HSBC staff including Nuno Matos, CEO for Wealth and Personal Banking, who said the transition to net zero was of “utmost importance” to the bank.
Kirk could not be immediately reached for comment.
(Reporting by Nishit Jogi in Bengaluru and Sinead Cruise in London; Editing by Pravin Char)
Advertisement 2
Financial Post Top Stories
Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.
By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300
