Banking on Climate Change?

Bankers are schizophrenic folk about climate change. On the one hand, you have the first Bank of England climate stress test on the UK's 7 largest lenders. These lenders are all major banks and insurance companies. The Bank of England's stress test predicts that, without action on climate change, these lenders, by 2050, will face a combined loss of £340bn (https://www.theguardian.com/business/2022/may/24/uk-finance-faces-340bn-in-losses-without-action-on-climate-change). On the other hand, you have HSBC's head of responsible investing (sic) claiming, in an internal presentation to his bank, that 'unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are always wrong'. Human ingenuity will, he feels, always solve environmental problems. That head of responsible investing has since been suspended, perhaps in an attempt to make HSBC look a tiny bit 'green' (https://www.theguardian.com/business/2022/may/22/hsbc-suspends-head-of-responsible-investing-who-called-climate-warnings-shrill). So, is climate change sweat or no sweat for the bankers? Whatever happens, experts are confidently predicting the banks and insurance companies will survive. The survival of their borrowers, however, may be quite a different matter.