HSBC has suspended a senior executive in the bank’s Responsible Investing Team for saying to colleagues, of climate change, “There’s always some nut job telling me about the end of the world.”

He went on the make light of the risk of major flooding and complained about “looking at something that’s going to happen in 20 or 30 years,” and went on to say, “Climate change is not a financial risk that we need to worry about.”

One of the slides used during the presentation said, “Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS wrong.” Later he said, “Who cares if Miami is six metres underwater in 100 years? Amsterdam has been six metres underwater for ages and that’s a really nice place.”

The Responsible Investing Team’s role at HSBC is considering the impact of investments on environmental, social and governance issues.

HSBC’s chief Noel Quinn posted to social media he did not agree “at all” with the statements and added, “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. Nuno Matos, chief executive of wealth and personal banking at HSBC, added he was “in complete agreement” with Mr Quinn and that “the transition to net zero is of utmost importance to us.”

HSBD has declined to officially comment on reports of the suspension, which first appeared in The Financial Times. Instead, a spokesperson provided a statement by HSBC Asset Management chief executive Nicolas Moreau whiuch said climate change was “one of the most serious emergencies facing the planet,” and adding, “HSBC Asset Management is committed to driving the transition to a sustainable global economy and has a fiduciary responsibility to ensure its clients’ monies are managed for positive long-term environmental and social outcomes.”

FT however reported that both the theme and the content of the presentation had been approved by the company.