Essay by Eric Worrall
h/t Vuk; “there was always some nut job telling me about the end of the world”, “apocalyptic warnings are ALWAYS wrong”. HSBC’s Stuart Kirk candidly sharing his frustration with economic ignorance of climate alarmists, and the wildly unrealistic assumptions he is being pressured to feed into climate economic models to make them produce interesting results.
HSBC banker draws fire after accusing policymakers of climate change hyperbole
Stuart Kirk also claimed central banks designed climate stress tests to obtain alarming results
The global head of responsible investing at HSBC Asset Management has drawn fire after accusing central bankers and policymakers of overstating the financial risks of climate change in an attempt to “out-hyperbole the next guy”.
Speaking at a Financial Times Moral Money event on Thursday, Stuart Kirk said that throughout his 25-year career in the finance industry “there was always some nut job telling me about the end of the world”, likening the climate crisis to the Y2K bug that predicted a widespread computer glitch at the turn of the millennium.
“Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS wrong,” he wrote on a slide accompanying his presentation.
A video of Stuart’s speech;
The video is straight to the point, entertaining, well worth watching. Stuart is fed up with government demanding he waste time examining climate risks he knows are a nonsensical exaggeration, so he doesn’t pull any punches. In this video he shares his frustration.
Stuart’s video also contains a plea for regulators to respond with pragmatism to the current economic crisis, which Stuart emphasises has nothing to do with climate change.
You’ve got my vote Stuart. I hope Stuart keeps his job. His points are well argued, but these days clarity and honesty sometimes gets you into trouble. Stuart is drawing a lot of fire for his candour.
via Watts Up With That?
May 21, 2022 at 12:52PM