The recent outrageous speech of Stuark Kirk, ostensibly the head of ‘responsible’ investing for HSBC Asset Management, was not only misinformed and misguided - his many fallacies have already been made clear - it is one of the most irresponsible public statements we have heard in years.
While some voices at HSBC sought to demurely distance themselves from the speech, the bank's clients are left wondering where this puts the HSBC Global Equity Climate Change Fund of Funds, its membership in the Net Zero Asset Managers Initiative, along with all the climate ambition statements made by Noel Quinn, CEO of HSBC, including in communications to his 40 million customers. HSBC appeared to recognise the urgency of protecting asset value by committing to do its part to halve global greenhouse gas emissions by 2030 as part of the UNFCCC's Race to Zero campaign. But Kirk has severel...
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