As ASEAN accelerates its energy transition, finance will shape how fast and how far the region can go. In this episode of SIEWCast, Money FM 89.3's Lynlee Foo speaks with Mr Nicholas Tan, Group Head, Global Energy, Infra & Utilities, Technology, Media & Telecom, Global Corporate Banking at OCBC Bank. He discusses how the bank is mobilising capital to scale renewables, advance carbon capture, and foster regional collaboration to build the energy systems of tomorrow.
Show Notes:
In this episode, we discuss…
- Where ASEAN's energy transition is gaining speed
- What OCBC learned from financing landmark UK carbon capture projects
- Why ASEAN can build tomorrow's energy systems today through regional connectivity and low-carbon fuels
- Why collaboration across governments and markets is key to accelerating cross-border energy projects
- The role of finance in setting new transition standards
Key takeaways
00:57 | Where ASEAN's energy transition is accelerating Mr Tan highlights strong momentum in renewable energy, with about 500GW added globally last year. China leads deployment, while ASEAN economies such as Vietnam, Indonesia, and the Philippines are expanding capacity alongside advances in digitalisation and grid technology. |
03:08 | Lessons from the UK CCS model Mr Tan shares that OCBC was the first Southeast Asian bank to finance two landmark carbon capture projects in the UK. He notes that policy clarity, carbon pricing, and risk-sharing frameworks are key to scaling such solutions regionally. This experience could help inform new frameworks in Asia. |
05:36 | Building systems for tomorrow He stresses that ASEAN must start developing future-ready systems today. Greater regional connectivity can unlock efficiency gains by enabling power to be shared across borders. New infrastructure must also accommodate low-carbon fuels such as hydrogen and ammonia, while meeting the region's growing energy needs. |
08:45 | Collaboration as ASEAN's catalyst Regional cooperation is essential for energy security and affordability. Cross-border grids and government partnerships can enhance system stability, cut emissions, and make large-scale projects more attractive to investors. |
10:43 | Mobilising finance and expertise Mr Tan outlines OCBC's role in advancing transition finance standards. This includes the bank's work with the Singapore Sustainable Finance Association initiatives, and the world's first Just Transition Guidelines for Banks. These frameworks help channel capital and expertise into the region's energy systems. |
11:57 | Defining success by 2030 By 2030, success means being a trusted partner in clients' transition journeys. The bank has already surpassed its S$50 billion sustainable finance goal, reaching S$74 billion in 2025. OCBC continues to fund renewables, green buildings, and low-carbon technologies across ASEAN. |
About our guest Mr Nicholas Tan joined OCBC Bank in 2005 and leads a client coverage team managing large corporate relationships across the Energy, Infrastructure & Utilities, and Technology, Media & Telecommunications sectors. Since 2022, he has been appointed Group Head to oversee three specialist relationship management teams. In this role, he formulates strategies to identify growth areas and geographical priorities, strengthen client relationships, and drive financing opportunities globally. Prior to joining OCBC Bank, Mr Tan spent eight years with another financial institution, including nearly five years in Vietnam, where he built up the bank's franchise and portfolio to support network clients' investments in the country. Earlier in his career, he spent five years in the telecommunications industry, where he was involved in acquisition, integration, and credit management processes. These experiences deepened his knowledge of the industry. Mr Tan holds a Bachelor of Science in Business Administration (Honours) from the
University of San Francisco, US.
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Additional Resources
- UK-Asia investment / cross-border capital flows
- Emerging CCUS hubs in ASEAN
- OCBC co-leads Taxonomy Working Group under the Singapore Sustainable Finance Association
- Facility-level Just Transition Guidelines for Banks
- OCBC's 2024 Sustainability Report
You can find the transcript of this episode here.
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