US senator suggests Stuart Kirk suspension early indicator of 2008-style financial crisis

‘Extreme environmental ideology’

James Baxter-Derrington
clock • 2 min read
Currently suspended global head of responsible investing at HSBC AM Stuart Kirk
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Currently suspended global head of responsible investing at HSBC AM Stuart Kirk

Republican senator for Montana Steve Daines has lambasted HSBC over its suspension of Stuart Kirk in the wake of his Miami speech, suggesting the move is indicative of “the same groupthink that led to the 2008 financial crisis”.

Writing to HBSC group CEO Noel Quinn, Daines argued that Kirk had been suspended pending internal review "for having the temerity to express" the opinion that climate-related financial risk is being misrepresented and suggested the bank had nothing to investigate given reports the presentation was internally approved. Former UN climate chief: HSBC speech 'one of the most irresponsible public statements heard in years' Daines then suggested the move was made in response to external pressure from "outside parties that may be legally prohibited from influencing the management of [HSBC]"....

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