The Australian Sustainable Finance Institute (ASFI) has appointed William McDonnell, Chief Financial Officer at IAG, as Chair of its Board. His appointment takes effect from 16 March 2026.
McDonnell succeeds Kristian Fok, Chief Executive Officer of Cbus Super, who has chaired the organisation since its establishment in 2021. During his tenure, Fok oversaw ASFI’s early development and initiatives aimed at mobilising capital towards climate, nature and social outcomes.
ASFI said McDonnell brings experience in financial services, climate risk and regulation, which will support the institute’s work on strengthening responses to climate risk and resilience across finance, policy and industry.
Before joining IAG, McDonnell was a founding member of the Bank of England’s Climate Financial Risk Forum. He also chaired the ESG Committee at insurer Royal & Sun Alliance, served on the University of Cambridge ClimateWise Council and led the Emerging Risk Initiative of the CRO Forum. He was also involved in establishing the Integrity Council for the Voluntary Carbon Market.
ASFI Chief Executive Officer Kristy Graham welcomed the appointment, noting McDonnell’s background in insurance, banking and regulation and his experience working on climate risk issues internationally.
Graham said Australia is placing increasing emphasis on climate adaptation and resilience, and that McDonnell’s experience in the insurance sector would support the organisation’s work on cross-sector responses to climate risk.
McDonnell said he was honoured to take on the role at a time when climate risks are increasing and the financial system has an important role in supporting communities and the economy to adapt.
ASFI also thanked outgoing Chair Kristian Fok for his leadership during the organisation’s first four and a half years. Graham said Fok helped establish the institute’s governance and strategic foundations and contributed to advancing Australia’s sustainable finance agenda.
