MUFG Names First Sustainability Head for EMEA

MUFG, Japan's largest financial group, has appointed Stephen Jennings as its first chief sustainability officer for Europe, the Middle East, and Africa. This appointment aligns with MUFG's strategic focus on aiding clients in sustainable transitions. Jennings, who has extensive experience in energy and renewables financing, will maintain his current role as head of energy structured finance EMEA. His new responsibilities will include developing and implementing MUFG EMEA's sustainability strategy, assisting clients with energy transition strategies, chairing the sustainability committee, and co-ordinating with the MUFG Group. This appointment follows MUFG's recent departure from the UN's Net Zero Banking Alliance, pointing to possible strategic shifts in the bank's climate policies, still overseen by its head office in Tokyo. The bank aims to achieve carbon neutrality by 2050 and deliver 100 trillion yen of sustainable finance by 2030.