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IPFS News Link • Employee and Employer Relations

A speech so good he was sacked:

• https://joannenova.com.au

Hopefully Elon Musk will give him a job.

Stuart Kirk, head of "responsible investing" for HSBC let rip at the doommongers of finance with a speech called "Why investors need not worry about climate risk". He was speaking at A Moral Money Europe Summit, held by the Financial Times and is clearly fed up with listening to hyperbole and being told to analyze and worry about trivial long term future events. "Last night Target fell 25% — twentyfive!" … but I'm being told to worry about something coming 20 – 30 years down the track."  Other speakers were unceremoniously dispatched. He complained climate risk has become so hyperbolic no one knows how to outdo it.  "Sharon [a speaker from Deloittes] said "we're not going to survive!" But no one even looked up and ran from the room."

Dangerously (for him) he also explained how the central banker models bury massive GDP and interest rate shocks in their economic forecasts of climate risk, otherwise they can't generate bad news and headlines. Apparently, it's all in the fine print that nobody mentions. They're sounding more and more like climate models all the time.

That was last week. This week he's been suspended.


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