Justin Wu joins HSBC as the co-head of climate change for Asia-Pacific

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Last Updated on August 30, 2022 by Bitfinsider

According to a message to colleagues obtained by Reuters, HSBC has appointed Justin Wu as its first co-head of climate change Asia Pacific to oversee the creation and execution of the bank’s sustainability strategy in the region.

Wu is leaving Bloomberg New Energy Finance, where he served as the managing director for the Asia Pacific area, to join HSBC on September 5.

In an effort to establish a “Sustainability Centre of Excellence” to aid the bank and its clients in navigating the transition to a low-carbon economy, the Asia-focused lender has made a number of recent hires.

Wu will oversee the bank’s interactions with major corporations, authorities, and other stakeholders over the climate transition, the source said.

Up to the middle of 2023, Wu will be stationed in Tokyo before shifting to Hong Kong.

According to the memo, efforts are being made to appoint a second co-head of climate change for Asia Pacific, who will be based in mainland China and with an emphasis on North Asia.

As part of efforts to set shorter-term emissions-reduction objectives, HSBC, a key lender to corporate Asia, stated earlier this year that it plans to reduce emissions connected to loans given to its oil and gas clients by 34% this decade.

The decision to broaden its expertise in climate financing comes after a challenging few months for the bank, during which the head of responsible investment at its fund arm resigned following the delivery of a contentious speech that downplayed the financial implications of climate change.

Milo Sjardin, who is also joining the lender from Bloomberg, will start working as head of climate analytics on September 26 and will be stationed in London under Herweijer’s direction, according to the memo.

Sjardin will be in charge of a brand-new climate analytics hub that will construct models to provide the data and analytics that the bank and its clients require to reach their net-zero objectives.

Wu and Sjardin will both be a part of the executive committee for the sustainability team.

Susannah Fitzherbert-Brockholes, who will assist in creating the bank’s net-zero transition strategy and integrating it into decision-making processes, was also named director of sustainable finance, according to the message.

Fitzherbert-Brockholes joins from PricewaterhouseCoopers, where she worked as a consultant for nine years and provided advice to the government, companies, and financial institutions.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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