HSBC group CEO reaffirms climate pledge

HSBC’s group chief executive has criticised widely publicised comments made by the bank’s former head of responsible investment, Stuart Kirk, at an FT conference that central bankers and officials have exaggerated the financial risks of climate change. HSBC denied that Kirk’s comments represented the firm’s position, with group CEO Noel Quinn writing in a LinkedIn post: "I do not agree – at all – with the remarks made at last week’s FT Moral Money Summit. They are inconsistent with HSBC’s strategy and do not reflect the views of the senior leadership of HSBC or HSBC Asset Management. Our ambition is to be the leading bank supporting the global economy in the transition to net zero.”