Nordic bank SEB has appointed Ben Powell, formerly of the World Bank, to head its Climate & Sustainable Finance business in Norway.
Powell was previously head of Funding for the International Finance Corporate, the private sector arm of the World Bank, which involved working on bond offerings. He managed the IFC’s Green and Social Bond issuance programmes, and worked on launching the IFC’s first Indian rupee green bond programme worth some $1bn. Before that he was deputy head of Funding for Kommunalbanken in Norway.
Following the Paris Agreement on climate change, Norway’s government has committed to a series of policy objectives.
- implementing the Paris Agreement, the UN Sustainable Development Goals and the Sendai Framework for Disaster Risk Reduction, all of which have been negotiated by UN member states
- reducing Norway’s greenhouse gas emissions by 40 % by 2030
- funding efforts to address climate change through the Green Climate Fund (GCF), the Global Environmental Facility (GEF), the World Bank, and other multilateral funds and partners
- leading the way in international efforts in the field of health and climate
- promoting the phasing out of fossil fuel subsidies
- supporting sustainable urban development and the development of renewable energy, with a view to promoting sustainable social development and economic growth
- contributing to sustainable management of marine resources