Essay by Eric Worrall
h/t Vuk; “there was at all times some nut job telling me in regards to the finish of the world”, “apocalyptic warnings are ALWAYS fallacious”. HSBC’s Stuart Kirk candidly sharing his frustration with financial ignorance of local weather alarmists, and the wildly unrealistic assumptions he’s being pressured to feed into local weather financial fashions to make them produce fascinating outcomes.
HSBC banker attracts hearth after accusing policymakers of local weather change hyperbole
Stuart Kirk additionally claimed central banks designed local weather stress assessments to acquire alarming outcomes
Harriet Agnew, Simon Mundy and Stephen Morris in London
The worldwide head of accountable investing at HSBC Asset Administration has drawn hearth after accusing central bankers and policymakers of overstating the monetary dangers of local weather change in an try and “out-hyperbole the following man”.
Talking at a Monetary Occasions Ethical Cash occasion on Thursday, Stuart Kirk mentioned that all through his 25-year profession within the finance trade “there was at all times some nut job telling me in regards to the finish of the world”, likening the local weather disaster to the Y2K bug that predicted a widespread laptop glitch on the flip of the millennium.
“Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS fallacious,” he wrote on a slide accompanying his presentation.
Learn extra: https://www.ft.com/content material/1716d9fb-4c8f-4d05-a6b4-bb02a48a73a4
A video of Stuart’s speech;
The video is straight to the purpose, entertaining, nicely value watching. Stuart is fed up with authorities demanding he waste time inspecting local weather dangers he is aware of are a nonsensical exaggeration, so he doesn’t pull any punches. On this video he shares his frustration.
Stuart’s video additionally comprises a plea for regulators to reply with pragmatism to the present financial disaster, which Stuart emphasises has nothing to do with local weather change.
You’ve received my vote Stuart. I hope Stuart retains his job. His factors are nicely argued, however nowadays readability and honesty generally will get you into bother. Stuart is drawing lots of hearth for his candour.
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