Industry asks 'what sort of culture HSBC is breeding' in wake of Stuart Kirk suspension

Follows 'Miami' speech

James Baxter-Derrington
clock • 2 min read
“More broadly, this is another massive smirch on HSBC’s reputation on climate, which it has been at pains to burnish recently.”
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“More broadly, this is another massive smirch on HSBC’s reputation on climate, which it has been at pains to burnish recently.”

Following reports that HSBC Asset Management global head of responsible investing Stuart Kirk’s now-famous speech on climate risk was signed off internally, figures across the industry have questioned how they got it so wrong.

In the days following Kirk's 'Miami' speech, in which he questioned who would care if the city wound up six metres under water in a bid to demonstrate humanity's ability to adapt to changing environments, HSBC Group has sought to distance itself from its employee. HSBC suspends Stuart Kirk over climate change 'hyperbole' speech - reports The overall group chief executive, along with the chief executives of wealth and personal banking and global asset management, have all publicly disavowed the speech, arguing it does not reflect the group's stance on climate change. However, it was...

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