DBS Bank stated on Monday, January 24 that Mr. Helge Muenkel has been appointed as the bank’s new chief sustainability officer, effective immediately, to lead the bank’s sustainability and sustainable financing operations.
Mr. Muenkel will succeed Mr. Mikkel Larsen, who will take over as CEO of Climate Impact X, a joint venture between DBS, the Singapore Exchange, Standard Chartered, and Temasek, in November 2021.
Prior to joining DBS, Mr. Muenkel was the head of Asia-Pacific, sustainable finance, and global capital markets at Dutch bank ING.
He served on the global sustainable finance and capital markets management teams, as well as the global sustainable finance quality board, at the bank. Mr. Muenkel was instrumental in the growth of ING’s regional sustainability-related consulting services and sustainable financing transactions across products.
Mr. Muenkel earned a master’s degree in economics with a concentration in development economics from Munich University. He also holds a Cambridge University postgraduate degree in sustainability.
“With more than 20 years of expertise in sustainability and banking, Muenkel is ideally positioned to expand on our commitments and manage DBS’ efforts to unleash greater environmental, social, and governance impact across the region,” said DBS CEO Piyush Gupta.
Mr. Gupta went on to say that DBS has committed to being net-zero by 2050 in response to the “increasingly important” problem of climate change.
“At the same time, the issue of social inequality has emerged as requiring urgent attention during the epidemic, and the bank continues to step its efforts to help small enterprises and communities.”
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