About us

Energy Shift Institute is an independent nonprofit energy finance think tank. We look at Asia’s energy transition from within the region.

We approach our work through the belief that a range of solutions are needed and those solutions need to be pragmatic and commercially viable within the local context for which they are being proposed.

Energy Shift Institute aims to help position Asia for its future economic leadership by facilitating a more aggressive energy transition. 

Our work heavily relies on an evidence base, and is built on reasoned, balanced, and market-relevant knowledge that adeptly addresses the intricate complexities of Asian markets. As thought leaders, we will drive innovation in strategic finance and policy, while also exploring technology opportunities and risks.

Energy Shift Institute does not believe that research alone can chart a path to net zero at early stages of the journey. Therefore, engagement with a wide range of stakeholders accompanies our research, and offers opportunity to understand all perspectives, show practical ways for implementation, and challenge them to aim higher.

Energy Shift Institute Ltd. is a registered company limited by guarantee in Victoria, Australia with personnel based across Asia.

Our leadership

Energy Shift Institute is led by our founders who are highly experienced in research, collaboration and team building.

Christina Ng

Managing Director

Christina was born and raised in Malaysia, and has lived and worked in Singapore, Hong Kong and Australia. Her most recent role at the Institute for Energy Economics and Financial Analysis has seen her focus on the Asia Pacific energy finance markets, and is regularly quoted by various media outlets including Bloomberg, FT and Reuters.

Christina has experience engaging and actively negotiating with regulators, policymakers, financial players and companies of all scales, across the emerging and developed global markets. She is well-versed in the nuances of each Asian market and understands the different expectations, challenges and mindsets of these stakeholders.

Christina’s strengths lie in her ability to lead and grow teams, and unravel complex problems. Her approach always involves stakeholder engagement, collaboration and evidence-based recommendations.

Before co-founding Energy Shift Institute, Christina spent over 20 years in strategic and executive roles in research, accounting standard-setting and risk management. This background uniquely equips her with the ability to connect the worlds of finance and policy, and unlock impactful change.

Christina was born and raised in Malaysia, and has lived and worked in Singapore, Hong Kong and Australia. Her most recent role at the Institute for Energy Economics and Financial Analysis has seen her focus on the Asia Pacific energy finance markets, and is regularly quoted by various media outlets including Bloomberg, FT and Reuters.

Christina has experience engaging and actively negotiating with regulators, policymakers, financial players and companies of all scales, across the emerging and developed global markets. She is well-versed in the nuances of each Asian market and understands the different expectations, challenges and mindsets of these stakeholders.

Christina’s strengths lie in her ability to lead and grow teams, and unravel complex problems. Her approach always involves stakeholder engagement, collaboration and evidence-based recommendations.

Before co-founding Energy Shift Institute, Christina spent over 20 years in strategic and executive roles in research, accounting standard-setting and risk management. This background uniquely equips her with the ability to connect the worlds of finance and policy, and unlock impactful change.

Putra Adhiguna

Managing Director

Putra has spent nearly twenty years across various leadership positions in the energy sector and recently as the Asia technology research lead at the Institute for Energy Economics and Financial Analysis.

His nuanced views on energy transition have been routinely featured in prominent outlets such as Straits Times, Reuters and WSJ. He is an active advisor for key stakeholders from both public and private sphere including corporations, financial institutions, and public officials.

Putra grew up in Indonesia and has garnered extensive international experience throughout his career. Prior to joining the think tank sector, he led a team of 300+ staff in a multinational Fortune 500 organization. His diverse experience enables him to analyze complex subjects through multiple lenses, identify critical levers of change, and communicate effectively with a wide set of stakeholders.

Putra holds an engineering degree from Institut Teknologi Bandung and a master’s in public policy from LSE.

Putra has spent nearly twenty years across various leadership positions in the energy sector and recently as the Asia technology research lead at the Institute for Energy Economics and Financial Analysis.

His nuanced views on energy transition have been routinely featured in prominent outlets such as Straits Times, Reuters and WSJ. He is an active advisor for key stakeholders from both public and private sphere including corporations, financial institutions, and public officials.

Putra grew up in Indonesia and has garnered extensive international experience throughout his career. Prior to joining the think tank sector, he led a team of 300+ staff in a multinational Fortune 500 organization. His diverse experience enables him to analyze complex subjects through multiple lenses, identify critical levers of change, and communicate effectively with a wide set of stakeholders.

Putra holds an engineering degree from Institut Teknologi Bandung and a master’s in public policy from LSE.

Our Team

Hazel Ilango

Principal
Coal Transition Lead

Hazel brings a deep understanding of the financial levers driving the energy transition to her role at the Energy Shift Institute. As Coal Transition Lead, she oversees research and market engagement to navigate coal transition pathways. In her role as Principal Researcher, Hazel drives major program initiatives, provides thought leadership and builds industry relationships to align financial systems with Asia’s energy transition goals.
 
Previously, Hazel led Asia-Pacific fixed income research at the Anthropocene Fixed Income Institute. Her focus on sustainability-linked, green, and transition bonds, as well as public-to-private transactions, helped investors integrate climate risk into fixed income strategies. At IEEFA, her research critiqued how credit rating agencies and ESG frameworks assess climate risks, highlighted gaps and offered recommendations for improvement. Hazel’s earlier work at Southeast Asia’s leading ratings agency RAM Ratings, where she specialized in corporate and credit risk analysis, equipped her with a strong foundation to assess the financial pathways of energy transition players.
 
Hazel’s reports and insights have been widely recognized, with coverage in Nikkei Asia, Bloomberg, and the International Financing Review. She holds a BSc in Mathematics from the University of Wisconsin-Eau Claire, along with qualifications in Sustainable Finance and Fixed Income Markets.
 
Hazel brings a deep understanding of the financial levers driving the energy transition to her role at the Energy Shift Institute. As Coal Transition Lead, she oversees research and market engagement to navigate coal transition pathways. In her role as Principal Researcher, Hazel drives major program initiatives, provides thought leadership and builds industry relationships to align financial systems with Asia’s energy transition goals.
 
Previously, Hazel led Asia-Pacific fixed income research at the Anthropocene Fixed Income Institute. Her focus on sustainability-linked, green, and transition bonds, as well as public-to-private transactions, helped investors integrate climate risk into fixed income strategies. At IEEFA, her research critiqued how credit rating agencies and ESG frameworks assess climate risks, highlighted gaps and offered recommendations for improvement. Hazel’s earlier work at Southeast Asia’s leading ratings agency RAM Ratings, where she specialized in corporate and credit risk analysis, equipped her with a strong foundation to assess the financial pathways of energy transition players.
 
Hazel’s reports and insights have been widely recognized, with coverage in Nikkei Asia, Bloomberg, and the International Financing Review. She holds a BSc in Mathematics from the University of Wisconsin-Eau Claire, along with qualifications in Sustainable Finance and Fixed Income Markets.

Ian Hiscock

Principal
Transition Minerals Lead

Ian is a mineral economist with a global profile. He started his career in London spending over 16 years in CRU’s consultancy division working for companies, banks and governments all over the world. Ian is familiar with all the major metal value-chains, including steel, aluminium and copper as well as many niche ones such as uranium, manganese and cobalt. 
 
After moving to Asia in 2017, he developed a leading nickel consultancy practice to support industry stakeholders with understanding issues at the intersection of economics, engineering and sustainability. Ian is one of the world’s leading experts on nickel value-in-use leading detailed studies for a Global Diversified Miner as well as giving evidence to a court in Latin America on the value of ferronickel. 
 
Ian’s broader experience with negotiation and arbitration include working with the World Bank to help a West African government to design its iron ore royalty formula and acting as an expert witness for a government in Central Asia. He is passionate about sustainable development, and well-placed to simplify jargon-heavy technical and commercial problems into language that can be understood by stakeholders across the public and private spheres.  

Ian is a mineral economist with a global profile. He started his career in London spending over 16 years in CRU’s consultancy division working for companies, banks and governments all over the world. Ian is familiar with all the major metal value-chains, including steel, aluminium and copper as well as many niche ones such as uranium, manganese and cobalt.

After moving to Asia in 2017, he developed a leading nickel consultancy practice to support industry stakeholders with understanding issues at the intersection of economics, engineering and sustainability. Ian is one of the world’s leading experts on nickel value-in-use leading detailed studies for a Global Diversified Miner as well as giving evidence to a court in Latin America on the value of ferronickel.

Ian’s broader experience with negotiation and arbitration include working with the World Bank to help a West African government to design its iron ore royalty formula and acting as an expert witness for a government in Central Asia. He is passionate about sustainable development, and well-placed to simplify jargon-heavy technical and commercial problems into language that can be understood by stakeholders across the public and private spheres.

Ahmad Zuhdi D K

Associate Principal

Ahmad Zuhdi Dwi Kusuma is a mining industry expert with a strong focus on energy and critical metals. He served as a Mining Industry Analyst at the Office of the Chief Economist, Bank Mandiri, where he developed in-depth economic analyses to support strategic decisions, particularly in commodity markets and industrial sector development. His work contributed to enhancing the quality of credit disbursement and improving sectoral insights across the banking system.
 
Zuhdi holds a Master’s degree in International and Development Economics from the Australian National University (ANU), earned through the Australian Awards Scholarship. With a robust background in economic policy, sectoral research, and econometric for data-driven forecasting, he brings deep expertise in addressing critical resource issues through rigorous economic thinking.
Ahmad Zuhdi Dwi Kusuma is a mining industry expert with a strong focus on energy and critical metals. He served as a Mining Industry Analyst at the Office of the Chief Economist, Bank Mandiri, where he developed in-depth economic analyses to support strategic decisions, particularly in commodity markets and industrial sector development. His work contributed to enhancing the quality of credit disbursement and improving sectoral insights across the banking system.
 
Zuhdi holds a Master’s degree in International and Development Economics from the Australian National University (ANU), earned through the Australian Awards Scholarship. With a robust background in economic policy, sectoral research, and econometric for data-driven forecasting, he brings deep expertise in addressing critical resource issues through rigorous economic thinking.

Nabilla Gunawan

Senior Analyst

Nabilla brings experience in sustainable finance and energy transition research to her role at the Energy Shift Institute. As Senior Analyst, she contributes to research and engagement on transition finance frameworks and practices across Asia, shaping credible pathways for capital to support the region’s decarbonisation.

Previously, at the Climate Bonds Initiative, Nabilla co-authored reports on Southeast Asia’s green investment opportunities and provided policy recommendations to regulators and investors on scaling sustainable finance. At Market Forces, she designed and delivered campaigns that focused on shifting investor capital towards cleaner energy investments in Indonesia.

With a background spanning research, policy, and advocacy, Nabilla is adept at engaging diverse stakeholders and translating complex financial and policy issues into clear, actionable insights. She holds a B.A. in International Political Economy from the University of Washington.

Nabilla brings experience in sustainable finance and energy transition research to her role at the Energy Shift Institute. As Senior Analyst, she contributes to research and engagement on transition finance frameworks and practices across Asia, shaping credible pathways for capital to support the region’s decarbonisation.

Previously, at the Climate Bonds Initiative, Nabilla co-authored reports on Southeast Asia’s green investment opportunities and provided policy recommendations to regulators and investors on scaling sustainable finance. At Market Forces, she designed and delivered campaigns that focused on shifting investor capital towards cleaner energy investments in Indonesia.

With a background spanning research, policy, and advocacy, Nabilla is adept at engaging diverse stakeholders and translating complex financial and policy issues into clear, actionable insights. She holds a B.A. in International Political Economy from the University of Washington.

Idham Muhammad Fachri

Senior Analyst

Idham is a former corporate banker specializing in structured and project finance, with deep exposure to the mining and energy sectors. He has led end-to-end project finance transactions, spanning financial, technical, market, legal, and environmental due diligence to structure commercially viable deals. He has also advised corporates on asset–liability management and capital structure optimisation.

Earlier in his career, Idham worked as an operations engineer at one of Indonesia’s largest coal mining companies, giving him practical insight into on-the-ground technical and operational aspects. He holds a Mining Engineering degree from Institut Teknologi Bandung. At ESI, he brings a multi-lens perspective and engages across financial institutions, corporates, government, and academics to strengthen research impact.

Idham is a former corporate banker specializing in structured and project finance, with deep exposure to the mining and energy sectors. He has led end-to-end project finance transactions, spanning financial, technical, market, legal, and environmental due diligence to structure commercially viable deals. He has also advised corporates on asset–liability management and capital structure optimisation.

Earlier in his career, Idham worked as an operations engineer at one of Indonesia’s largest coal mining companies, giving him practical insight into on-the-ground technical and operational aspects. He holds a Mining Engineering degree from Institut Teknologi Bandung. At ESI, he brings a multi-lens perspective and engages across financial institutions, corporates, government, and academics to strengthen research impact.

M Reza Rahmaditio

Analyst

Reza brings expertise in sustainability and policy to the transition minerals sector. He previously worked at the World Resources Institute, where he led the development of a decarbonization roadmap for Indonesia’s nickel industry and an equivalency benchmark on ESG standards for the minerals sector.

He works at the intersection of engineering and economics to help heavy industries develop manageable transition pathways towards sustainability. His experience spans low-carbon strategy, ESG performance, and policy analysis across mining and mineral value chains.

Reza applies a systems approach to unpack complex sustainability challenges and translate them into clear, practical options for decision-makers. He combines this analytical lens with strong communication and facilitation skills, helping diverse mining and policy stakeholders work together on effective sustainability strategies.

Reza brings expertise in sustainability and policy to the transition minerals sector. He previously worked at the World Resources Institute, where he led the development of a decarbonization roadmap for Indonesia’s nickel industry and an equivalency benchmark on ESG standards for the minerals sector.

He works at the intersection of engineering and economics to help heavy industries develop manageable transition pathways towards sustainability. His experience spans low-carbon strategy, ESG performance, and policy analysis across mining and mineral value chains.

Reza applies a systems approach to unpack complex sustainability challenges and translate them into clear, practical options for decision-makers. He combines this analytical lens with strong communication and facilitation skills, helping diverse mining and policy stakeholders work together on effective sustainability strategies.

Rizky Azhari Abietto

Jr. Analyst

Rizky Azhari Abietto brings a rigorous analytical perspective to the energy transition, holding a Bachelor’s degree in Physics. As a Co-Founder of the Society of Renewable Energy at the University of Indonesia, he has been instrumental in building a grassroots ecosystem for clean energy. Rizky’s diverse professional background spans driving digital transformation of a publicly listed bank, regional boutique consulting firm, and contributing to strategic initiatives at an NGO and Indonesia’s Ministry of Energy and Mineral Resources.

An awardee of McKinsey & Company’s Young Leaders for Indonesia, Rizky is recognized for his leadership and potential to drive large-scale change. At Energy Shift Institute, he leverages his cross-sector experience from finance to policy to develop integrated strategies that accelerate decarbonization and foster sustainable innovation across Southeast Asia.

Rizky Azhari Abietto brings a rigorous analytical perspective to the energy transition, holding a Bachelor’s degree in Physics. As a Co-Founder of the Society of Renewable Energy at the University of Indonesia, he has been instrumental in building a grassroots ecosystem for clean energy. Rizky’s diverse professional background spans driving digital transformation of a publicly listed bank, regional boutique consulting firm, and contributing to strategic initiatives at an NGO and Indonesia’s Ministry of Energy and Mineral Resources.

An awardee of McKinsey & Company’s Young Leaders for Indonesia, Rizky is recognized for his leadership and potential to drive large-scale change. At Energy Shift Institute, he leverages his cross-sector experience from finance to policy to develop integrated strategies that accelerate decarbonization and foster sustainable innovation across Southeast Asia.

Advisors

Wai-Shin Chan

Senior Advisor

Wai-Shin is Senior Advisor to the Energy Shift Institute’s Transition Finance programme, bringing deep capital markets expertise and long-standing experience at the intersection of climate, finance and regulation. Wai-Shin provides strategic guidance on investor perspectives and institutional frameworks, supporting the Institute’s work to strengthen the credibility and effectiveness of transition finance.
 
Wai-Shin previously led HSBC’s Climate Change Centre of Excellence and served as Global Head of ESG Research, shaping climate and sustainability insights for investors and financial institutions. Notably, his work informed investment strategy, risk management and policy engagement across Asia and beyond.
 
Wai-Shin’s earlier roles include fund management focussed on responsible investment and equity analysis at major financial firms. He holds a first-class honours degree in Mathematics and Physics from Durham University and is a CFA charterholder.
Wai-Shin is Senior Advisor to the Energy Shift Institute’s Transition Finance programme, bringing deep capital markets expertise and long-standing experience at the intersection of climate, finance and regulation. Wai-Shin provides strategic guidance on investor perspectives and institutional frameworks, supporting the Institute’s work to strengthen the credibility and effectiveness of transition finance.
 
Wai-Shin previously led HSBC’s Climate Change Centre of Excellence and served as Global Head of ESG Research, shaping climate and sustainability insights for investors and financial institutions. Notably, his work informed investment strategy, risk management and policy engagement across Asia and beyond.
 
Wai-Shin’s earlier roles include fund management focussed on responsible investment and equity analysis at major financial firms. He holds a first-class honours degree in Mathematics and Physics from Durham University and is a CFA charterholder.

Contributors

Yi Shi

China Sustainable Investment Expert

Yi brings over a decade of experience in portfolio management, ESG and sustainable investment, with a focus on Greater China. 
 
Previously, Yi served at Neuberger Berman, where she led China-focused ESG research and co-managed ESG-integrated investment strategies, including the Neuberger Berman Active China Equity ETF. She also contributed to the NB China A UCITS Fund, recognized for its strong performance with Mercer’s top-tier rating. Yi developed a China-specific ESG materiality matrix and an independent ESG rating system, tools that brought greater clarity to sustainable investment in the region.
 
Her career started at JP Morgan Chase and spans asset management roles across Hong Kong, Shanghai and the U.S. Yi holds an MBA from the University of Dayton and the CFA Certificate in ESG Investing.
 
Yi’s combination of practical investment expertise and deep understanding of sustainability issues will strengthen the Institute’s work in shaping a low-emission investment future for China and beyond.
 
Yi brings over a decade of experience in portfolio management, ESG and sustainable investment, with a focus on Greater China. As China Sustainable Investment Lead, Yi will drive Energy Shift Institute’s research and engagement initiatives to advancing Asia’s energy transition.
 
Previously, Yi served at Neuberger Berman, where she led China-focused ESG research and co-managed ESG-integrated investment strategies, including the Neuberger Berman Active China Equity ETF. She also contributed to the NB China A UCITS Fund, recognized for its strong performance with Mercer’s top-tier rating. Yi developed a China-specific ESG materiality matrix and an independent ESG rating system, tools that brought greater clarity to sustainable investment in the region.
 
Her career started at JP Morgan Chase and spans asset management roles across Hong Kong, Shanghai and the U.S. Yi holds an MBA from the University of Dayton and the CFA Certificate in ESG Investing.
 
Yi’s combination of practical investment expertise and deep understanding of sustainability issues will strengthen the Institute’s work in shaping a low-emission investment future for China and beyond.

Hans W Sutikno

Transition Finance Research Intern

Hans is a graduate student at Columbia University, pursuing a Master’s degree in the Sustainability Management Program, Class of 2026. He supports ESI’s research in both the transition finance and transition minerals programmes.

His academic interests center on sustainable finance, with a particular focus on energy transition finance. 

Before graduate school, Hans served as an ESG Associate and Relationship Manager at Indonesia’s largest privately owned commercial bank, a publicly listed institution. In these roles, he played a key part in shaping the bank’s sustainable finance strategy and supporting the implementation of national sustainability policies. He also has experience engaging directly with regulators, international organizations, NGOs, and peer financial institutions at both national and regional levels.

Hans’ passion for navigating the complexities of energy transition is rooted in his entrepreneurial upbringing in Indonesia. He brings forward a bias for action, a sharp analytical approach, and a collaborative mindset to drive meaningful change

Hans is a graduate student at Columbia University, pursuing a Master’s degree in the Sustainability Management Program, Class of 2026. He supports ESI’s research in both the transition finance and transition minerals programmes.

His academic interests center on sustainable finance, with a particular focus on energy transition finance. 

Before graduate school, Hans served as an ESG Associate and Relationship Manager at Indonesia’s largest privately owned commercial bank, a publicly listed institution. In these roles, he played a key part in shaping the bank’s sustainable finance strategy and supporting the implementation of national sustainability policies. He also has experience engaging directly with regulators, international organizations, NGOs, and peer financial institutions at both national and regional levels.

Hans’ passion for navigating the complexities of energy transition is rooted in his entrepreneurial upbringing in Indonesia. He brings forward a bias for action, a sharp analytical approach, and a collaborative mindset to drive meaningful change.

Energy Shift Institute is building its research and operational teams. Get in touch if you have an interest in our work at jobs@energyshift.institute