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

Reports: HSBC suspends responsible investing head after controversial climate speech

HSBC has suspended its global head of responsible investing Stuart Kirk following a presentation he gave last week, in which he argued investors need not worry about climate change risks. According to the FTKirk was suspended over the weekend pending an internal investigation, although HSBC has declined to comment. The move comes following a speech … Read more