The Asia Climate Finance Podcast – Détails, épisodes et analyse

Comments/ideas: ACFpod@outlook.com

Jo Richardson, head of research at the Anthropocene Fixed Income Institute, explains why the global debt market holds more power over climate transition than the stock market. Of the world’s 100 largest emitters are responsible for 75% of all emissions, but only 30 are listed on the stock market, yet all have debt outstanding. This reality gives fixed income investors unique influence over governments and private companies through the cost of capital.

This episode investigates the surge in Catastrophe Bonds and Insurance Linked Securities. These niche instruments areveal what the market actually thinks about physical climate risk. Jo discusses why historical, backward-looking insurance models are failing to account for our current reality and why we are on the brink of an unprecedented financial regime shift.

Using real-world examples from California wildfires to World Bank programs in Jamaica and the Philippines, the discussion highlights how pricing tail risk can incentivise adaptation and resilience. 

Discover why the bond market is the front line for pricing the future of the climate economy.

ABOUT JO: Josephine Richardson is the Head of Research at the Anthropocene Fixed Income Institute (AFII). Based in London, Jo leads the development of AFII’s research, which supports fixed income investors in aligning their portfolios to climate and sustainability goals. Jo joined AFII from JPMorgan where she worked for 18 years in fixed income markets. She has extensive experience trading structured, flow and index credit products, and in the modelling and valuation of derivatives. Jo has an MA Hons Mathematics & Management Studies from Trinity College Cambridge and is a Fellow of the Chartered Institute for Management Accountants. She serves as trustee and advisor to a number of charities and social enterprises in the UK.

RECOMMENDATIONS: 

The Prize: The Epic Quest for Oil, Money, and Power: Jo recommends this 850-page, Pulitzer Prize-winning history of the oil and gas industry. It tracks the sector from its discovery in Pennsylvania in 1859 and provides essential context for understanding the role fossil fuels have played in global history.

Wild London: A documentary by Sir David Attenborough that showcases the ecosystems existing within the London area.

Tree Amble: A podcast focused on the ancient trees of Epping Forest, which Jo suggests as a way for individuals to connect with and appreciate local nature.

What the Catastrophe Bond Market Could Be Telling Us About Climate Risk: Joseph Jacobelli recommends Jo’s own report, which provides a deep dive into how "cat bonds" act as a tool for pricing the future of the climate economy.

HOST, PRODUCTION, ARTWORK: Joseph Jacobelli | MUSIC: Ep76 onward excerpts from Vivaldi’s La Follia, played by Luca Jacobelli.

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How is AI turning climate reporting from a tick‑box task into something useful? Greg Elders from Canbury Insights explains why financial materiality sits back at the heart of climate strategy. He shows how this shift affects investors, regulators and companies.

We examine Europe pushing for real sustainable impact under CSRD, the US facing ESG uncertainty and mixed signals from regulators, and Asian firms juggling ISSB and TCFD standards while dealing with regional economic pressures.

Greg sets out how large language models read annual reports, proxy statements and local media. They link business growth to physical climate risks such as water scarcity. The result is faster insight and sharper scrutiny.

We discuss targeted stewardship, greenwashing risks and the future of global reporting frameworks. Greg also explains why a single global standard remains a “crazy dream”. Automated scrutiny is already changing corporate behaviour, and the pace is only accelerating.

ABOUT GREG: Gregory Elders is Director, North America, at Canbury Insights. He is a recognised sustainable investing expert, leading Canbury’s North American operations and client engagements. He advises investors and companies in navigating evolving sustainability and stewardship expectations, building robust assessment and reporting systems, and aligning sustainability strategies with financial performance.

HOST, PRODUCTION, ARTWORK: Joseph Jacobelli | MUSIC: Ep76 onward excerpts from Vivaldi’s La Follia, played by Luca Jacobelli.

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We talk to Kingsmill Bond, energy strategist at Ember, sharing insights from his latest report, "The Electrotech Revolution". Discover how new energy technologies are transforming economies and geopolitics, with a special focus on Asia's rapid clean energy advancements. Tune in to explore the future of power systems, investment shifts, and what it means for a sustainable world.

REF: The Electrotech Revolution; Electricity Data Explorer; Ember.

ABOUT Kingsmill: Kingsmill Bond, CFA is an energy strategist for Ember. He has worked as a financial market analyst and strategist for over 30 years, including for Deutsche Bank and Citibank in London, Hong Kong and Moscow. He believes that the electrotech revolution is the most important driver of financial markets and geopolitics in the modern era. He joined Ember from RMI in 2025 to write analysis on the impact of the energy transition on financial markets, with a focus on the exponential growth of electrotech and the disruption to the fossil fuel sector.

HOST, PRODUCTION, ARTWORK: Joseph Jacobelli | MUSIC: Ep76 onward excerpts from Vivaldi’s La Follia, played by Luca Jacobelli.

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How do you scale green hydrogen from a laboratory curiosity to industrial reality? Alexander Tancock, CEO of Intercontinental Energy, reveals the breakthrough P2H2 Node system that’s turning massive renewable projects into factory-produced “Lego blocks.”

With numerous projects across three continents and backing from strong financial partners, Intercontinental Energy isn’t just making green hydrogen—they’re creating green iron to decarbonise steel production and building new trade corridors between Australia’s vast renewable resources and Asia’s industrial heartlands.

Alex shares why the hydrogen hype faded, how government partnerships became crucial, and why 2028 could mark the tipping-point for commercially viable green molecules at oil- and gas-scale.

REF: InterContinental Energy

ABOUT ALEX: Alexander Tancock is the CEO and Chairman of the Board of InterContinental Energy, a global leader in large-scale green hydrogen development who has been at the forefront of the industry for more than 10 years. Under his leadership, the company has pioneered a portfolio of groundbreaking projects, with its three flagship projects attracting partnerships from some of the largest names in energy. With backing from major institutional investors like GIC and Hy24, InterContinental Energy has established itself at the forefront of the green molecule sector. The company’s innovative team and approach extend beyond project development, and into giga scale enabling technology through its patented P2(H2)NodeTM architecture. Alex's expertise and strategic insights make him a significant voice in the energy sector.

HOST, PRODUCTION, ARTWORK: Joseph Jacobelli | MUSIC: Ep76 onward excerpts from Vivaldi’s La Follia, played by Luca Jacobelli.

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Joseph Jacobelli and Toby Chan unpack the dynamic landscape of climate tech investing in Asia. The discussion highlights current VC trends, financing gaps, and the transition from emerging tech to mainstream infrastructure, with case studies from maritime and aviation. Discover why Asia is gaining ground amid US policy shifts and how policy, capital, and supply chains are driving change in the region.

ABOUT TOBY: Toby is a co-founder of Audacy Ventures Limited, focused on catalysing and scaling decarbonisation technologies critical to the energy transition post his prior career in traditional energy and renewables. Audacy is an early growth stage investor and supports technologies related to energy efficiency, transportation and industrial decarbonisation, that are in early stages of commercialisation particularly in the APAC region.

Toby has 20 years of investments and advisory experience across energy, infrastructure, technology, real estate and natural resources. Toby advised on over US$15bn of transactions whilst at Macquarie Capital and was part of the founding team of Kerogen Capital, a specialist in international energy investments with over US$2 billion AUM.

HOST, PRODUCTION, ARTWORK: Joseph Jacobelli | MUSIC: Ep76 onward excerpts from Vivaldi’s La Follia, played by Luca Jacobelli.

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This episode dives deep into Australia's position as an emerging leader in the green hydrogen market, exploring both the immense potential and current challenges facing the industry. Nick Smith, a leading expert, shares insights from his unique perspective spanning corporate, government, and advisory roles, discussing major projects like the 1.8 million tonne Murchison Green Hydrogen Project in Western Australia and the infrastructure developments reshaping the sector. The conversation covers critical topics including cost reduction strategies, safety considerations, financing models, and the shift from export-focused to domestic market applications. With China controlling 80% of global green hydrogen installations and Australia navigating boom-bust cycles, this episode provides a pragmatic assessment of where the industry stands and realistic expectations for the next two decades.

ABOUT NICK. Nick is the Managing Director of Global Decarbonisation Advisory (GDA), bringing together people, projects and capital to accelerate decarbonisation across the energy, mineral processing and hard to abate industrial sectors. Nick is the current President of the International Association for Hydrogen Safety (HySafe), is a member of the International Hydrogen and Fuel Cell Association’s Technical Committee and is a member of the Clean Energy Transition Advisory Committee at the Australia Japan Business Co-operation Committee. Nick has extensive experience as an executive and non-executive director predominantly in Australia and is recognised for delivering world leadership in decarbonisation across the energy sector and mineral extraction and processing sector in Australia. Prior to commencing GDA, Nick held a range of senior executive and leadership roles across the government, gas, and construction materials sectors delivering strategy, policy and commercial advice along with full accountability for business performance and profitability.
Nick holds a Masters degree in Business Administration, is a graduate of the Australian Institute of Company Directors and a Fellow of the Australian Institute of Energy.

HOST, PRODUCTION, ARTWORK: Joseph Jacobelli | MUSIC: Ep76 onward excerpts from Vivaldi’s La Follia, played by Luca Jacobelli.

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Southeast Asia's energy transition faces a critical challenge: information fragmentation. With hundreds of projects, billions in investments, and countless stakeholders working across the region, coordination has been nearly impossible - until now. In this episode, we explore SIPET (Southeast Asia Information Platform for the Energy Transition), an open-source platform. Our guest, Maximilian Heil from GIZ, reveals how this innovative tool maps nearly 500 energy projects representing over $45 billion in investments across 10 ASEAN countries. We dive deep into the platform's three core tools - the knowledge hub, project mapping database, and power sector resources - and discover how they're breaking down silos between governments, donors, researchers, and private sector players. From just energy transition partnerships in Vietnam and Indonesia to community-level energy efficiency projects in Laos, SIPET is connecting the dots that were previously scattered across the region. This conversation goes beyond technology to explore the human element of energy transition: capacity building, knowledge sharing, and the collaborative networks that will ultimately determine Southeast Asia's path to carbon neutrality.

REF: Southeast Asia Information Platform for the Energy Transition, GIZ.

ABOUT MAX. Mr. Maximilian Heil is a Project Coordinator at the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) for the project “Clean, Affordable and Secure Energy for Southeast Asia” (CASE). Based in Bangkok, he leads coordination of regional initiatives such as the ASEAN Power Grid Advancement Programme (APG-AP) and the Southeast Asia Information Platform for the Energy Transition (SIPET). His work focuses on strengthening multilateral energy cooperation, promoting clean energy narratives, and enabling policy dialogue across Southeast Asia. Mr. Heil joined GIZ in 2018 as a liaison officer for Africa–EU Energy Partnership (AEEP) , supporting high-level engagement with the African Union and the European Commission. Before joining GIZ, he worked as a public affairs consultant on EU policy in the fields of energy, climate, and transport. His professional background combines expertise in international energy policy, strategic communication, and project management in multilateral environments. Maximilian Heil holds a bachelor and master ’s degree in  business economics and development studies with international academic experience in Denmark, Mexico, and Germany. 

HOST, PRODUCTION, ARTWORK: Joseph Jacobelli | MUSIC: Ep76 onward excerpts from Vivaldi’s La Follia, played by Luca Jacobelli.

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In this episode, Joseph converses with Srini Nagarajan, who heads Asia for British International Investment (BII). BII is the UK’s development finance institution. It is focused on investing in sustainable infrastructure and businesses in developing countries to promote economic growth and support the UK's development goals. Between 2022 and 2026, BII plans to allocate at least 30% of its total new commitments by value to climate finance. It already has investments in almost 1,500 businesses across 65 countries in emerging economies, with total assets exceeding $10.9 billion. The conversation covers the critical role of financial institutions in Asia's energy transition, actions governments can take to attract foreign investors, and the intersection of inclusion and climate change. Srini provides insights into BII's strategies, including investment in funds, direct equity investments, and the importance of blended finance. He also highlights successful examples from India and Southeast Asia. Enjoy the discussion and please do e-mail us to suggest topics for future episodes.

RESOURCES: About BII; Latest news from BII.

ABOUT SRINI: Srini Nagarajan is Managing Director and Head of Asia at British International Investment. Srini joined BII in 2013 to lead the Asia team under the organisation’s new investment strategy. He has the distinction of having been our first overseas employee and recently moved to Singapore to lead BIIs expansion into the Indo-Pacific region. He has been instrumental in building a high-quality portfolio in the region, which focuses across products and sectors. Under his leadership, BII has a strong presence on the ground and the team has made successful investments in the financial services, healthcare, logistics and renewable energy sectors – including the creation of BII subsidiary Ayana Renewable Power in India, a pioneer renewable energy developer. His role includes support in the origination, execution and management of the portfolio for delivering development goals and value. In addition, he is building BII’s presence in the South-East Asian markets with a focus on climate change. Srini started his career with Standard Chartered Bank, both in India and Southern Africa, before joining British International Investment in 1996. He has managed leasing companies in Africa and in India he managed legacy assets for value before moving into mainstream private equity investing for both British International Investment and Actis. He has a Masters degree in Economics and a post-graduate qualification in Business Administration from Warwick School of Business.

HOST, PRODUCTION, ARTWORK: Joseph Jacobelli | MUSIC: Ep76 onward excerpts from Vivaldi’s La Follia, played by Luca Jacobelli.

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Banle Group’s Venus Zhao discusses how CBL International is revolutionising the maritime industry through sustainable biofuels. Its B24 biofuel blend reduces GHG emissions by up to 25% compared to conventional marine fuels. With operations across 60+ global ports and recent ISCC certifications, CBL is positioned to capitalise on the projected 50% growth in the green marine fuel market despite current supply constraints. Venus outlines how tightening IMO regulations are accelerating industry-wide sustainability adoption and shares CBL's vision to lead the maritime sector's transition towards net-zero emissions through diversification into biofuels, LNG and methanol.
REF: CBL IR page.

ABOUT VENUS: Venus Hui Zhao is the Director of Investor Relations and Public Relations of Banle Group. She is primarily responsible for investor relations, public relations and capital markets of the Group. She has more than 15 years of experience in investor relations, public relations, capital markets and ESG. Prior to joining the Group, she was the General Manager of Hong Kong Office, General Manager of Capital Markets & Corporate Communications at a Hong Kong listed company and assumed different management roles in Hong Kong and US listed companies and Fortune 500 MNCs. Ms Zhao obtained her master degree of Strategic Public Relations in Communications and Journalism School in University of Southern California, and her MBA degree concentrated in Finance in The Hong Kong University of Science & Technology. She is a certified FCMA, CGMA holder from Chartered Institute of Management Accountants (CIMA), associate member of CPA Australia (ASA) , Certified ESG Analyst (CESGA®) from The European Federation of Financial Analysts Societies (EFFAS), Executive Committee member and fellow of Hong Kong Investor Relations Association (HKIRA), and full member of HKIoD (The Hong Kong Institute of Directors).

HOST, PRODUCTION, ARTWORK: Joseph Jacobelli | MUSIC: Ep76 onward excerpts from Vivaldi’s La Follia, played by Luca Jacobelli.

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In this episode of the Asia Climate Finance Podcast, Joseph and Mark Hutchinson from the Global Wind Energy Council (GWEC) discuss the latest developments in the offshore wind industry, especially in Asia. Mark highlights GWEC's role in promoting wind energy through government-industry collaboration and expanding office presence in key Asian markets such as China, India, Vietnam, and the Philippines. He details the progress and challenges in specific countries, including Japan, South Korea, Vietnam, and the Philippines, and underscores the importance of policy stability and technological innovation in driving growth. The conversation also touches on the impact of geopolitical shifts, the rise of digital solutions, and the necessity of achieving net-zero targets. Despite recent challenges, Mark expresses optimism about the industry's future.

REF: GWEC's Global Wind Report 2025

ABOUT MARK: Mark is a Director in GWEC's Asia team, and a proven leader in the Energy Transition. Mark spent 16 years leading both Wood Mackenzie's and IHS Markit's (now S&P Global) APAC regional Gas & Power and Energy Transition consulting teams. He has worked with companies, governments and other stakeholders to enable the move to a carbon free future including advising on billions of dollars of renewable energy sector acquisitions, financings, IPOs and other types of capital raising. At GWEC Mark focuses on helping industry and governments transition to better enable the success of the wind industry, helping to meet various net zero carbon, energy security and other policy goals.

HOST, PRODUCTION, ARTWORK: Joseph Jacobelli | MUSIC: Ep76 onward excerpts from Vivaldi’s La Follia, played by Luca Jacobelli.