HSBC Bolsters ASEAN Sustainability

HSBC strengthens its sustainability-related capabilities in Southeast Asia with the appointment of a newly created role.

Kelvin Tan has been named head of sustainable finance and investments, ASEAN, according to a statement, reporting to Singapore chief executive Kee Joo Wong.

Based in Singapore, Tan will be tasked with supporting Singapore-based clients with their low carbon transition needs. He will oversee the provision of sustainability-linked finance, support the development of innovative climate solutions, lead cross-business and cross-market collaboration across the bank’s ASEAN franchises and enhance employee education on sustainability.

Tan was most recently CEO of HSBC Thailand, a role he held since 2015.

According to the Asian Development Bank (ADB), ASEAN is projected to experience some of the most significant temperature increases worldwide which, if left unaddressed, could reduce regional GDP by up to 11 percent by the end of the century.

The region is also facing a $100 billion per year infrastructure gap, ADB added, which may have worsened during the pandemic.

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, Wong said. Tan’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.