HSBC Asset Management global head of responsible investing Stuart Kirk has questioned the risk climate change plays for financial markets, arguing that it is not one investors should worry about.
Speaking at a Financial Times Moral Money event on Thursday (19 May), Kirk compared the climate crisis to the Y2K bug, bemoaning that throughout his financial career there has always been "some nutjob telling me about the end of the world". "What bothers me about this one is the amount of work these people make me do," he said. Presenting a speech entitled Why investors need not worry about climate risk, Kirk asked: "Who cares if Miami is six metres under water in 100 years? "Amsterdam has been six metres underwater for ages and that is a really nice place. We will cope with it." ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
