Ex-Bank of England senior advisor joins SG green fintech firm

MetaVerse Green Exchange (MVGX), a Singapore-based digital green fintech firm, has appointed former Bank of England (BoE) senior advisor Michael Sheren as president and chief strategy officer.

Michael Sheren/Photo credit: MVGX

Sheren will help drive MVGX’s carbon-as-a-service (CaaS) services globally. He will also oversee the development of the company’s new climate and environmental advisory services, which will look to collaborate with businesses, government bodies, and policymakers to push sustainability initiatives.

During his decade-long stint at BoE as an advisor, Sheren led the bank’s efforts on sustainable finance and environmental risk management. Sheren has also co-founded BoE’s fintech accelerator program.

Before BoE, Sheren held leadership roles at firms such as JPMorgan Chase, GE Capital, and Credit Agricole CIB.

Between 2016 and 2019, Sheren was the co-chair of the G20 Sustainable finance study with China. He will continue to serve as a senior advisor to the United Nations Development Program Finance Hub.

“Home to some of the most vibrant cities and financial hubs, Southeast Asia has a thriving green sector set to become a US$1 trillion economic opportunity by 2030,” Sheren said in a statement.

See also: A watershed year for climate tech investing

Founded in 2018, MVGX operates a digital asset exchange. The company has also acquired multiple licenses from the Monetary Authority of Singapore — recognized market operator license, capital market service license for operating in securities and collective investment schemes and providing custodial services.

In April, the fintech firm announced a partnership with Singapore-based OCBC Bank to develop green financing solutions, including tokenised carbon credits.