Cathay FHC Spotlights USD 1.1 Trillion Clean Energy Potential at London’s World Climate Investment Summit
Michael Wen (second from right), Executive Vice President of Cathay United Bank, represented Cathay FHC at the World Climate Investment Summit at the London Stock Exchange, joining a global leaders dialogue on clean energy investment opportunities.
Michael Wen (second from left) represented Taiwan as its sole delegate, highlighting Asia’s growing potential in the global energy transition.
Wen(left) joined Ricardo Mussa (right), Chair of the Sustainable Business COP in a WCIS session. This November, Cathay FHC will attend COP for the fifth consecutive year, bringing Taiwan’s voice to the global climate stage.
“Come to Asia!” Taiwan’s Cathay FHC Returns to LSEG as Asia’s Voice on Scalable Climate Investment
Taking the stage on behalf of Cathay FHC, Michael Wen, Executive Vice President of Cathay United Bank, participated in the high-level panel discussion, “Investing in the Clean Energy Transition – Where Are the Real Returns?” Wen emphasized the importance of de-risking clean energy investments, especially given intensifying physical climate risks such as floods, typhoons, and droughts. Creating safer, investable conditions is key to unlocking the capital needed for a resilient, net-zero future.
Wen joined an esteemed panel that included Jaakko Kooroshy, Global Head of Sustainable Investment Research at London Stock Exchange Group (LSEG); Peter Lindegaard, Chief Investment Officer of Industriens Pension; Kirsten Spalding, Vice President at Ceres Investor Network, a nonprofit advancing clean energy initiatives.
Organized by the World Climate Foundation, the summit brings together hundreds of global climate and finance leaders to align capital flows with net-zero and Paris Agreement goals. This year, Cathay FHC placed Asia’s clean energy potential in the global spotlight. “Come to Asia!” Wen urged, emphasizing the region’s vast investment opportunities. Referencing data from the Institute for Energy Economics and Financial Analysis (IEEFA), he noted that countries including Taiwan, Japan, South Korea, Vietnam, and Malaysia are setting ambitious goals for solar and offshore wind development. By 2050, Asia’s clean energy supply chains are projected to attract over USD 1.1 trillion in investment.
In Taiwan, the clean energy finance landscape is rapidly evolving. As of 2024, green energy lending by Taiwanese banks surpassed TWD 3 trillion (approximately USD 92.5 billion), marking a double-digit year-over-year increase. Globally, momentum is accelerating—the U.S. is expected to double its installed wind and solar capacity, while Southeast Asia’s surging electricity demand is further driving clean energy investments. According to the International Energy Agency (IEA), an additional USD 500 billion per year is needed worldwide to meet energy transition goals in renewables, grid development, and storage.
Wen also highlighted Cathay’s strong track record in climate-aligned investments. By the end of 2024, Cathay FHC had deployed TWD 73.3 billion (USD 2.2 billion) in clean energy financing—an 80% increase over three years—supporting more than 1,500 MW of solar and 1,900 MW of offshore wind capacity. Cathay United Bank pioneered Taiwan’s first solar project finance in 2011 and has since led major domestic and cross-border transactions, including Taiwan’s first offshore wind project finance and Vietnam’s largest onshore wind project, in collaboration with the Asian Development Bank (ADB). In 2024, Cathay Life Insurance set a national record for offshore wind investment by a life insurer, participating in Ørsted’s Greater Changhua Offshore Wind Farm.
At this pivotal moment for global energy systems, Wen reaffirmed Cathay FHC’s long-term commitment to building climate-resilient investment portfolios, supporting clean infrastructure innovation, and strengthening risk management to align with net-zero pathways. With a clear focus on Taiwan, Asia, and the global economy, Cathay FHC continues to play a leading role in advancing the energy transition toward a more sustainable future.
About Michael Wen
Michael Wen is Executive Vice President at Cathay United Bank, where he leads the Corporate Finance Division. His responsibilities include overseeing debt capital markets, syndicated, and leveraged finance, ESG-linked lending, and project finance advisory. He also manages strategic relationships with leading global private equity firms and financial institutions.
Wen oversees the bank’s expanding Sustainability-Linked Loan (SLL) portfolio, which exceeded TWD 80 billion (approximately USD 2.5 billion) by the end of 2024, supporting more than 70 corporate clients through tailored Key Performance Indicators (KPI) and Sustainability Performance Targets (SPT) frameworks. In parallel, he champions social impact lending, which funds critical infrastructure in underserved communities—from medical equipment upgrades for rural healthcare providers to educational support for low-income students abroad—with a total of USD 33.5 million disbursed in 2024.
Elaine Chen
Cathay Financial Holdings
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