Standard Chartered Singapore makes a big ESG hire
There’s been another big hire in Singapore’s bourgeoning environmental, social and governance (ESG) space. Jatin Sarvaiya joined Standard Chartered earlier this month as director, net zero programme.
He is presumably helping to drive Stan Chart’s targets, announced last October, to reach net-zero carbon emissions from its financed activity by 2050, including interim 2030 targets for the most carbon-intensive sectors.
Sarvaiya previously spent just over a year as the Singapore-based global sustainability manager at the American Bureau of Shipping, focused on ESG reporting and sustainable finance, according to his LinkedIn profile. Prior to that, he was with PwC for about 18 months as a decarbonisation and climate risk strategist.
His move follows a string of senior ESG appointments in Singapore. In March, Eleonore Dachicourt joined BNP Paribas Wealth Management as head of sustainable and responsible investments for Asia, on the back of increased client demand for its sustainable investments offering. The following month, ING named Martijn Hoogerwerf as head of sustainable finance Asia Pacific, following a year-on-year doubling in APAC sustainability deals in 2021.
In January, Stuart Wilson joined Eastspring Investments, the Singapore asset management business of Prudential, as head of sustainability. Last year, Citi relocated Raphael Erasmus from London to Singapore as its head of sustainability and corporate transitions for Asia Pacific, a newly-created role.
Meanwhile, Deutsche Bank is recruiting for an ESG centre of excellence in Singapore, and UOB has made several key hires in recent months, including recruiting Melissa Moi in January from Bank of America as head of sustainable business.
Abrdn, NNIP, Nordea Asset Management, Robeco and Schroders have set up sustainability hubs in Singapore, or have announced their intention to do so, according to a survey published in November by the Monetary Authority of Singapore (MAS). BlackRock, Fidelity International and Fullerton now have global or Asia Pacific regional ESG heads in Singapore to “drive their sustainable investing strategies and stewardship activities”.
ESG experts are also in demand in Hong Kong as US banks play catch-up to European rivals in ESG recruitment.
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