Westpac has named Michael Chen as its new Deputy Chief Sustainability Officer, a strategic move that further solidifies the bank’s commitment to climate leadership, ESG integration, and sustainable finance. The announcement comes at a time when Australian banks are under increasing scrutiny to meet ambitious net-zero targets and deliver transparent, accountable sustainability disclosures.

A Seasoned Leader at the Intersection of Finance and ESG

Chen brings to the role over 20 years of experience spanning banking, insurance, advisory, and sustainability. Since joining Westpac in 2015, he has taken on a series of influential roles, from Head of ESG for the Institutional Bank to Head of Sustainable Finance, and most recently, Acting Chief Sustainability Officer.

During his tenure, Chen has been instrumental in embedding ESG considerations into Westpac’s institutional operations. He played a key role in building out the bank’s sustainable finance capabilities, helping to establish it as a leader in green lending and responsible investing within the Australian financial sector.

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Driving Value Through Purpose and Integration

Westpac described Chen as a purpose-driven leader who believes in the power of business to deliver positive outcomes for people and the planet. His approach to ESG is rooted in long-term value creation, with a strong emphasis on integration ensuring that sustainability principles are embedded into the core of how the bank operates, serves clients, and assesses risk.

His influence is already visible across Westpac’s institutional strategies, where ESG criteria increasingly shape investment decisions, client engagement, and product development.

A Global Perspective on Climate and Capital

Chen’s background extends beyond Westpac. He previously held senior roles at PwC, insurance group IAG, and the World Economic Forum, giving him a global perspective on both sustainability leadership and capital markets. He has also served on the steering committee of the Net-Zero Banking Alliance, a coalition of financial institutions committed to aligning portfolios with climate goals under the Paris Agreement.

His academic credentials include a Master’s in Sustainability Leadership from the University of Cambridge and Chartered Accountant accreditation through Chartered Accountants Australia & New Zealand positioning him well to bridge strategic vision with financial rigor.

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Charting the Future of Sustainable Banking

In his new role, Chen will lead Westpac’s evolving sustainability agenda, with a sharp focus on climate change, human rights, and the emerging domain of natural capital. His leadership comes at a pivotal moment, as financial institutions across Australia face rising regulatory expectations and investor demand for transparency on climate risks, biodiversity impacts, and social equity.

By appointing Chen to this senior role, Westpac signals its intent to deepen ESG integration across business lines and prepare for the next wave of sustainability challenges and opportunities.

As the global landscape continues to shift, the bank appears ready to strengthen its voice and role in sustainable finance anchored by leadership that understands both the complexity and the urgency of the task ahead.

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