- Stephen Jennings appointed as MUFG’s first sustainability chief for Europe, Middle East, and Africa.
- MUFG maintains commitment to net-zero despite recent exit from UN climate alliance.
- The bank targets $668 billion in sustainable finance by 2030
Japan’s MUFG has named Stephen Jennings as its first Chief Sustainability Officer for Europe, the Middle East, and Africa (EMEA), enhancing its efforts to guide clients toward sustainable business models.
Jennings, a 24-year expert in energy and renewables financing, expands his role to oversee sustainability strategy alongside his current duties as Head of Energy Structured Finance EMEA and Head of the Sustainable Business Division EMEA.
His appointment follows MUFG’s recent exit from the UN’s Net Zero Banking Alliance, amid broader industry departures prompting revisions to retain members.
An MUFG spokesperson emphasized continuity in their climate commitment:
“We aim to contribute to real-economy decarbonisation by providing our clients with the advice and capital required to transition their business models whilst ensuring security and stable supply of energy.“
The bank’s climate policies remain guided by its Tokyo head office, under Group Chief Strategy and Sustainability Officer Hideaki Takase.
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Jennings will lead MUFG EMEA’s sustainability initiatives, advising and financing clients through their energy transition. He will also chair the bank’s sustainability committee, coordinating closely with the wider MUFG Group.
Cathryn Kelly, currently Head of Credit Strategy, will support Jennings as Deputy Chief Sustainability Officer EMEA.
MUFG aims to deliver 100 trillion yen ($668 billion) in sustainable finance by 2030.
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