From the BBC:
HSBC has reportedly suspended a senior executive who accused central bankers and other officials of exaggerating the financial risks of climate change... During the 15-minute address at the FT Moral Money Summit, Mr Kirk said "Climate change is not a financial risk that we need to worry about."
"Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS wrong," a slide shown as part of the presentation said... Later in the presentation, he said: "Who cares if Miami is six metres underwater in 100 years? Amsterdam has been six metres underwater for ages and that's a really nice place."
In cases of transgression, thine employer shalt say Three Hail Mary's and beg for forgiveness:
... a spokesperson shared a statement by HSBC Asset Management chief executive Nicolas Moreau referring to climate change as "one of the most serious emergencies facing the planet... HSBC Asset Management is committed to driving the transition to a sustainable global economy and has a fiduciary responsibility to ensure its clients' monies are managed for positive long-term environmental and social outcomes."
Amen.
Thursday, 26 May 2022
Thou shalt neither mock nor question the Holy Scriptures.
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10 comments:
Nobody expects the Spanish Inquisition! (even when it is rebranded as the "FT Moral Money Summit".)
Roll on the return to the Medieval Roman Catholic church rule. You can buy your indulgences here.
B, nowadays, you have to expect them everywhere. So fair play to him for fronting it out.
L, buying indulgences is called "green washing". They already have that.
MW Yup. Exactly my point.
L, ah, sorry. I thought you meant it WILL happen. We appear to be agreed that is already IS happening.
MW. Yes. We do. e.g. Shell. Telling me that when I buy fuel they've given x to plant a tree, or whatever.
L, that sort of things irritates the hell out of me. Corporate social responsibility begins and ends with complying with letter and spirit of the law, including tax law!
Well, you could say that it the responsibility of a corporation is to make money for its owners, the shareholders. This used to be in the form of dividends from profits, but these days it's mostly from an increase in value of the shares and green virtue signalling is just another way of making a corporation's shares more likely to be bought, i.e. more valuable.
B, it's marketing. That's fine, marketing and advertising is one of the necessary evils of capitalism. As long as the consumer is aware that it is meaningless, I don't mind. It's the Holier Than Thou that grates.
Mark, I always assume that corporations are 100% cynical about such things.
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