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    HSBA   GB0005405286

HSBC HOLDINGS PLC

(HSBA)
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HSBC suspends banker after climate risk comments-FT

05/22/2022 | 05:18pm EDT
The logo on the building of HSBC's London headquarters appears through the early morning mist in London's Canary Wharf financial district

(Reuters) - HSBC Holdings has suspended its head of responsible investing pending an internal investigation after he said central bank policymakers and other global authorities are exaggerating the financial risks of climate change, the Financial Times reported on Sunday citing people with knowledge of the process.

HSBC senior banker Stuart Kirk made the comments at a conference hosted by the FT on Thursday, drawing criticism from climate activists.

According to the FT, the title of the presentation - "Why investors need not worry about climate risk" - had been set two months earlier and had been posted ahead of the event on the conference's website.

HSBC CEO Noel Quinn said in a LinkedIn post on Saturday that his bank will not be distracted from its ambition to lead the global economy in the transition to net zero.

An HSBC spokesperson said the company could not comment on individual employees.

(Reporting by Michael Erman; Editing by Daniel Wallis)


© Reuters 2022
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Financials (USD)
Sales 2022 52 402 M - -
Net income 2022 9 291 M - -
Net Debt 2022 - - -
P/E ratio 2022 14,9x
Yield 2022 4,17%
Capitalization 132 B 132 B -
Capi. / Sales 2022 2,51x
Capi. / Sales 2023 2,29x
Nbr of Employees 219 763
Free-Float 98,1%
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 6,65 $
Average target price 7,93 $
Spread / Average Target 19,2%
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Managers and Directors
Noel Paul Quinn Group Chief Executive Officer & Executive Director
Ewen James Stevenson Group Chief Financial Officer & Executive Director
Mark Edward Tucker Independent Non-Executive Director
Steven C. van Wyk Chief Information Officer
John M. Hinshaw Group Chief Operating Officer
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