On the BP news, remember when an HSBC exec said "who cares if Miami is six meters underwater in 100 years"? This was a valuable insight into the decision-making process of corporates. Which is that there are no short-term financial incentives for mitigating climate catastrophe.
A senior executive at HSBC bank has claimed that “investors should not worry about climate risk,” sparking widespread concerns about the financial sector's real view of the climate crisis.
Looks like a real estate opportunity for more "beach front properties". And beach behind properties. In fact, beaches all over the place. 🤷🏼♂️ And then the CheetoPrez can finally give in to his fear of being surrounded by sharks.
Similarly, I recall a leading figure in the last Trump administration stating that concerns about the impact of global heating on coastal cities were wildly overstated as people just needed to sell up and move inland. The denialism, ignorance and stupidity on display was simply breathtaking!
the FT article about his end at HSBC is quite telling as well. www.ftadviser.com/investments/...
The former global head of responsible investing at HSBC’s asset management division has quit the bank after making controversial comments minimising the risks of climate change.