HSBC has hired Justin Wu as co-head of climate change Asia Pacific, a newly-created position within the company to oversee the development and implementation of the bank’s sustainability strategy in the region.
Wu leaves Bloomberg New Energy Finance, where he was the Asia Pacific regional managing director, and will join HSBC on September 5th.
The appointment is the latest example of policies increasingly geared towards helping the bank and its clients manage the global transition to a low-carbon economy.
Along with Wu, Milo Sjardin is also joining the bank as head of climate analytics. HSBC also pledged earlier this year to cut emissions tied to loans made to its oil and gas clients by 34% this decade.
“Working closely with our regional business teams, Justin will play a critical role in client engagement around transition plans and helping to create commercial transition/green finance opportunities,” Chief Sustainability Officer Celine Herweijer said in a company memo.
In his role Wu will lead the bank’s engagement with big companies, regulators and other stakeholders on climate transition, Herweijer said.
Both Wu and Sjardin will join the sustainability team’s executive committee.
The memo additionally announced the appointment of Susannah Fitzherbert-Brockholes as director of sustainable finance to help develop the bank’s net-zero transition plan.
Fitzherbert-Brockholes joins from consultants PricewaterhouseCoopers, where she had worked for the past nine years.