Deutsche names Khan as head of ESG in Asia Pacific

HONG KONG (Reuters) – Deutsche Bank AG has appointed Kamran Khan to the newly created role of Asia Pacific head environmental, social and corporate governance (ESG) with a mandate to develop a regional strategy across all business units.

The announcement comes a day after the German lender said it planned to pump at least 200 billion euros ($217 billion) into so-called sustainable financing and investments by 2025, its first formal targets for doing so.

The investment plan is the latest by a global lender to showcase commitment to sustainable investing, as pressure builds on banks to support the globally agreed transition to a low-carbon and more environmentally friendly economy.

Khan, who will be based in Singapore, most recently founded and led an impact fund targeting companies focused on achieving U.N. Sustainable Development Goals. He has also led the World Bank’s infrastructure finance practice in East Asia.

(Reporting by Sumeet Chatterjee; Editing by Edmund Blair)