MetaVerse Green Exchange (“MVGX”), a digital green exchange licensed and regulated by the Monetary Authority of Singapore (“MAS”), announced the appointment of former Bank of England Senior Advisor Michael Sheren as President and Chief Strategy Officer (CSO) as the firm strengthens its end-to-end suite of Carbon as a Service (CaaS) products to customers across the globe.
In his capacity as President and CSO, Michael will drive the promotion of MVGX’s CaaS offerings internationally amid growing calls for greater climate action. Based in Singapore and Europe, Michael will be responsible for developing MVGX’s new climate and environmental advisory services which will enable the firm to collaborate with businesses, government agencies, and policymakers to drive sustainability initiatives within the Southeast Asian region and beyond.
Michael’s appointment comes as Southeast Asia reaffirms its commitment to accelerate sustainable finance in one of the most at-risk regions from climate change. Most recently, the Asian Development Bank signed a memorandum of understanding with the Government of the United Kingdom to develop a US$134 million trust fund to scale green financing and adopt low-emission, climate-resilient development in ASEAN countries ahead of COP27.
Speaking on his appointment, Michael said, “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. I am thrilled to tap into the region’s sustainability opportunities and to join a company such as MVGX that is at the forefront of emerging sustainability solutions, working together with leaders that share a collective vision of realizing a greener tomorrow.”
Prior to joining MVGX, Michael was a Senior Advisor at the Bank of England (“BoE”) for nearly a decade, leading much of the Bank’s sustainable finance and environmental risk management work. Further, Michael co-founded the BoE’s fintech accelerator programme. On behalf of BoE and the UK government, Michael was also the Co-Chair of the G20 Sustainable Finance Study Group with China from 2016-2019, driving domestic and international green finance initiatives. In his twenty-five years of private sector banking before joining the BoE, Michael held leadership roles at JPMorgan Chase, GE Capital, and Credit Agricole CIB among other financial firms.
Bolstered by Michael’s extensive industry leadership, MVGX will be strengthening its suite of CaaS offerings which includes existing and upcoming products and services such as Carbon Neutrality Connect, Carbon Management System, climate and environmental consulting services, Carbon Neutrality Tokens (CNTsTM), and the Net Zero Card and Diary. MVGX is also leveraging its proprietary blockchain systems to build an end-to-end carbon Enterprise Resource Planning (“ERP”) system, strengthening opportunities for businesses to achieve carbon neutrality in a verified, compliant way.
With a prolific career championing sustainable finance and development across the world, Michael will continue his roles as Senior Advisor to the United Nations Development Program Finance Hub, shaping sustainable investment strategies to achieve the UN Sustainable Development Goals; Emeritus Governor at the London School of Economics; and a Price of Wales Fellow at Cambridge University’s Cambridge Institution for Sustainable Leadership. Michael has also had an accomplished academic career, holding Master’s degrees from the Harvard Kennedy School, the London School of Economics and Political Science, and New York University, and a Bachelor of Arts from George Washington University.
Welcoming Michael, Dr Bo Bai, Executive Chairman and Co-Founder of MetaVerse Green Exchange said, “We are excited to welcome Michael to join MVGX. With a wealth of experience from traditional financial services and portfolio management, to public policy and international finance, development, and economics, Michael’s multi-faceted background will bolster MVGX’s capabilities and contribute greatly to the still-nascent sustainability sector in Asia. As MVGX continues to grow, Michael will play an essential role in strengthening our position as a leader in green solutions, bringing us a step towards the global goal of reaching net zero, and championing a more climate-conscious future generation.”
Founded in 2018 and based in Singapore, MetaVerse Green Exchange (“MVGX”) is a leading FinTech company providing end-to-end Carbon-as-a-Service solutions, backed by its licensed digital asset exchange platform and patent-pending Metaverse technologies including Non-Fungible Digital Twin (NFDTTM) and Carbon Neutrality Token (CNTTM). MVGX has built a world-class digital exchange platform with the best-in-class Nasdaq engines, MVGX proprietary digital asset ledger with carbon footprint tag, and rigorous compliance processes. MVGX is committed to bridging carbon trading markets from different jurisdictions and bridging illiquid assets in the real economy with wider investor accessibility.
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