BOSSES at HSBC have scrambled to distance themselves from the firm's sustainable investing chief after he questioned the need for investors to worry about climate change, asking "who cares if Miami is six metres under water in 100 years?"

Stuart Kirk, global head of responsible investing at HSBC, told a conference on Thursday that central bankers were overstating climate risks in an attempt to "out-hyperbole"

the next guy.

But bosses at HSBC have been quick to condemn Kirk's comments, with chief executive Noel Quinn and Nuno Matos, head of HSBC's wealth and personal banking business, both claiming Kirk's comments did not represent those of the firm.

Writing on Linkedin over the weekend, Quinn said he did not agree "at all" with the comments made by Kirk at the FT Moral Money Summit.

"They are inconsistent with HSBC's strategy and do not reflect the views of the senior leadership of HSBC or HSBC Asset Management," he said.

"We have a lot of work to do, and I am determined that our team won't be distracted by last week's comments."

Matos said he "completely agreed" with Quinn's condemnation and that the firm was committed to delivering net-zero.

HSBC was a "strategic partner" of the conference and bosses are believed to have signed off on Kirk's speech, the Financial Times reported.

(c) 2022 City A.M., source Newspaper