U.S. SENATE – U.S. Senator Steve Daines is challenging HSBC’s decision to suspend a high ranking executive over comments made about the purported financial risks posed by climate change. In a letter to the bank’s CEO Noel Quinn, Daines expressed concern the suspension was deeply misguided and possibly a breach of United States law.
“Based on the company’s prior approval of Mr. Kirk’s remarks, it appears to many that Mr. Kirk’s suspension was in response to pressure on HSBC from outside parties that may be legally prohibited from influencing the management of your company… Your treatment of Mr. Kirk’s heterodox remarks raises serious questions about HSBC’s risk management practices and culture,” the Senator wrote.
“To the extent that Mr. Kirk’s speech implicitly rebuked HSBC’s environmental commitments as ill-advised or contrary to the financial interests of your investors, this should prompt re-examination of your commitments, not silencing for pointing out that the emperor has no clothes,” Daines continued.
Read the full letter that Daines sent to HSBC HERE.
Contact: Rachel Dumke, Blake Kernen