IAG CFO William McDonnell has been appointed chair of the Australian Sustainable Finance Institute, succeeding Cbus Super CEO Kristian Fok, who held the position since 2021.

Mr McDonnell joined IAG in 2023 from RSA Insurance in London, where he was group chief risk officer for more than 15 years.

He has experience advocating for climate risk and sustainability practices, having chaired RSA’s environmental, social and governance committee. Mr McDonnell was also a founding member of the Bank of England’s Climate Financial Risk Forum and played a key role in establishing the Integrity Council for the Voluntary Carbon Market as its COO from 2021 to 2023.

ASFI CEO Kristy Graham said: “Australia is placing greater emphasis on climate adaptation and resilience, and William’s background in the insurance sector will strengthen ASFI’s work as we continue to advance cross-sector responses to climate risk and build long-term resilience.”

Mr McDonnell says he will work to ensure financial systems are committed to supporting economies and communities as they adapt to Australia’s growing climate risk.  

“ASFI plays an important part as an independent institution working closely across the financial system and policy community to help translate emerging risks and opportunities into practical, co-ordinated action,” he said.

“I look forward to working with the board, members and stakeholders to build on the strong foundations already in place.”