Financing Real Sustainability in Asia: Michael Wen on Integrity and Impact

In this interview with the World Climate Foundation, Michael Wen, Executive Vice President at Cathay Financial Holdings, explains how sustainable-linked products are reshaping corporate banking across Asia. He notes a clear rise in demand from companies in Taiwan and Southeast Asia seeking financing that supports improvements in their operations and supply chains.

Wen highlights the bank’s role in tailoring solutions to these needs, while maintaining strict safeguards against greenwashing. Internal guidance helps assess whether proposed projects genuinely advance sustainability rather than simply adopting the label.

Recent examples include sustainable linked loans for water treatment and management, from supporting a Philippine water utility to financing equipment upgrades for clients in Hong Kong and Ho Chi Minh City.

I think the most challenging issue nowadays for all financial institutions is so-called 'greenwashing'. That means a corporate only pretends to do some sustainability business or green business, they only ask for the [label], but they do not have the intention to really improve their business or manufacturing in relation to sustainability.

Looking ahead, Wen stresses that scaling credible sustainable finance will require stronger public–private collaboration. Many pioneering projects are not yet bankable on their own, and government involvement will be key to unlocking the next stage of growth.

The interview was recorded at the World Climate Summit & The Investment COP 2025 in Belém.

Watch the full conversation:

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Michael Wen 

Executive Vice President, Cathay Financial Holdings/Cathay United Bank Co., Ltd.

Michael Wen is Executive Vice President and head of corporate finance products. His main responsibilities in products include DCM, loan syndication, leveraged finance, ESG/sustainable linked finance, and project finance & advisory. Besides, he also supervises financial sponsors coverage team which serves renowned private equity funds and financial institutions. 

Prior to rejoining Cathay United Bank, Michael was the GM of Natixis, Taipei, a boutique French investment bank. Michael has more than 30 years’ experience in capital markets related businesses with HSBC, Citibank, Industrial Bank of Taiwan/IBT Securities and China Securities (renamed as KGI Securities) in Taiwan. Michael holds a PhD degree from WISE, Xiamen University, a MBA degree from Peter F Drucker management center, Claremont Graduate University and an EMBA degree from National Taiwan University.