HSBC banker’s remarks on local weather danger inconsistent with technique, CEO says By Reuters

© Reuters. FILE PHOTO: HSBC CEO Noel Quinn attends the UN Local weather Change Convention (COP26) in Glasgow, Scotland, Britain, November 3, 2021. REUTERS/Yves Herman/File Picture

(Reuters) – HSBC Holdings (NYSE:) CEO Noel Quinn says his financial institution is not going to be distracted from its ambition to guide the worldwide economic system within the transition to web zero, after a senior government stated central banks had exaggerated the monetary dangers of local weather change.

In a LinkedIn put up on Saturday, Quinn stated the senior banker’s remarks have been “inconsistent with HSBC’s technique” and “don’t replicate the views of the senior management of HSBC or HSBC Asset Administration.”

At a convention hosted by the Monetary Occasions on Thursday, HSBC’s head of accountable investing Stuart Kirk stated central financial institution policymakers and different world authorities have been overplaying the monetary dangers of local weather change, in feedback that drew criticism from local weather activists.

Quinn reiterated HSBC’s dedication to a web zero future and his put up was endorsed by a number of different HSBC employees together with Nuno Matos, CEO for Wealth and Private Banking, who stated the transition to web zero was of “utmost significance” to the financial institution.

Kirk couldn’t be instantly reached for remark. 

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