HSBC appoints ASEAN Head of Sustainable Finance and Investments

Kelvin, a Singaporean, has had extensive experience in the financial services sector, having worked across several major global banks over the past 33 years. He joined HSBC in 2009 where he led HSBC Singapore’s Commercial Banking business. Most recently, he has been Chief Executive Officer of HSBC Thailand since 2015.

Reporting to HSBC Singapore Chief Executive Officer, Kee Joo Wong, Kelvin will support Singapore-based clients with regional needs transition to a lower carbon way of working and living.

Specifically, the role will oversee the provision of sustainability-linked finance; help develop innovative climate solutions; lead cross-business and cross-market collaboration across HSBC’s ASEAN franchises; and enhance employee education and understanding to assist with customer engagement.

Commenting on the appointment, Kee Joo Wong said: “Southeast Asia is one of the most vulnerable regions in the world to climate change-related natural disasters. If nothing is done, the environmental, social and economic impact of climate change will be profound. HSBC has been at the forefront of helping ASEAN’s governments, businesses and its people transition to a lower carbon position. Kelvin’s extensive experience in Singapore and across ASEAN markets, as well as his proven commercial banking ability, makes him the perfect candidate to ensure we take further strides towards a more strategic and coordinated approach.”

According to the Asia Development Bank, ASEAN is projected to experience some of the most significant temperature increases globally. If left unaddressed, climate change could reduce the region’s gross domestic product by up to 11 percent by the end of the century¹. Moreover, Southeast Asia faces an infrastructure investment shortfall of more than $100 billion a year, which may have worsened amid the COVID-19 pandemic². To fill this gap, ASEAN member states must take steps to promote greater private sector participation in infrastructure financing.

The role further elevates HSBC’s sustainable finance leadership in ASEAN. HSBC has committed to becoming a Net Zero bank by 2030, and has taken steps to reduce our carbon footprint in our operations, supply chain and financing portfolio. As part of this, HSBC will provide up to USD1 trillion in sustainable financing and investment by 2030 to support clients in their own transition to more sustainable ways of doing business³.

Across ASEAN, HSBC has been at the forefront of driving the sustainable finance agenda, helping to build a thriving, resilient future for societies and businesses. The Bank has executed market-leading transactions, launched innovative sustainable finance solutions, and is driving industry groups to embed sustainability into banking practices and support the communities around us.

HSBC’s key initiatives and activities across ASEAN include:

• HSBC Amanah became the first international bank in Malaysia to be a part of UNGC.⁴
• HSBC is ranked no. 1 in Dealogic for Green, Social, Sustainability and Sustainability-Linked Bond Issuances in APAC ex-JP in 2021.
• HSBC Malaysia⁵ and Singapore⁶ launched recycled plastic credit cards.
• First international bank in Singapore to pilot the Monetary Authority of Singapore’s Green Trade Finance Framework.⁷
• Launched the ESG-focused Sharia Global Mutual Fund in Indonesia.⁸
• Leading Singapore’s sustainability efforts by Chairing the MAS Green Finance Industry Taskforce (GFIT).⁹
• HSBC launched Green Deposits in Singapore¹⁰ and Thailand¹¹.
• HSBC was lead runner on Indonesia’s first green Sukuk.¹²
• Awards
• Best Bank for Sustainable Finance Asia 2020 - Euromoney Awards for Excellence 2020
• Investment Bank of the Year for Sustainability 2020 - The Banker
• Islamic ESG Bank of the Year – The Asset Triple A Islamic Finance Awards 2020

Media enquiries to:

Daniel Fitzpatrick | Daniel.fitzpatrick@hsbc.com.sg | +65 8876 6350