HSBC hires Justin Wu as Asia-Pacific co-head of climate change - memo

LONDON : HSBC has hired Justin Wu as its first co-head of climate change Asia Pacific to lead the development and implementation of the bank's sustainability strategy in the region, a memo to staff seen by Reuters showed.

The hire is the latest in a series for the Asia-focused lender as it looks to build a 'Sustainability Centre of Excellence' to help the bank and its clients manage the global transition to a low-carbon economy. Wu will lead the bank's engagement with big companies, regulators and other stakeholders on climate transition, she said.The process to hire another co-head of climate change Asia Pacific, with a focus on North Asia, and which will be based in mainland China, is ongoing, the memo said.

The move to expand its climate finance expertise follows a tough few months for the bank after the head of responsible investing at its fund arm quit after making a controversial speech downplaying the financial risks of climate change.

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