Keep it in the ground: How fossil fuel risk remains deeply embedded in global stock markets

Carbon Tracker analysis finds global stock markets are still carrying three times more carbon reserves than can be burned for the world to stay on a 1.5C pathway Global stock markets are sitting on vast stranded asset risks, as they hold investments in three times more coal, oil and gas reserves than can be burned … Read more

US senator suggests Stuart Kirk suspension indication of ‘extreme environmental ideology’

Republican senator for Montana Steve Daines has lambasted HSBC over its suspension of Stuart Kirk in the wake of his recent speech attacking climate disclosure requirements, 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 … Read more

Feeling stressed? Bank of England warns climate risks to become 'persistent drag' on profitability

A top HSBC executive may have downplayed the threat posed by climate risks, but the Bank of England’s new stress test exercise suggests financial firms’ profits would be hit The timing may be entirely coincidental, but it makes it hard not to interpret it as a direct riposte. Just days after HSBC Asset Management’s head … Read more