Sustainable Finance Leadership: Interview with Ravi Suri, Global Head of Sustainable Finance – KPMG

| Article | Leadership

Sustainable finance is no longer a buzzword… it's the future of investment. In this exclusive interview, Ravi Suri, Global Head of Sustainable Finance at KPMG, shares his journey from engineering to impact investing, and how the GCC is becoming a powerhouse in private capital, green innovation, and talent mobility. From structuring India’s first LNG project to advising on the world's largest waste-to-energy initiatives, Ravi offers rare insights into the evolution of finance and infrastructure in emerging markets, and what it takes to lead this transformation.

With a career spanning decades and continents, Ravi Suri is widely regarded as a pioneer in project financing and infrastructure development. Recently named Infrastructure Finance Individual of the Year by IJGlobal, Ravi’s track record includes leading landmark projects across energy, transportation, telecommunications, and renewable sectors.

Known for his expertise in risk mitigation and structuring complex public-private partnerships, he has played a critical role in delivering some of the world’s largest and most impactful infrastructure deals. His global influence stretching from North America to Africa and the GCC, has helped unlock capital in emerging markets and catalyse sustainable development, particularly through financing renewable energy projects and innovative green solutions.

Hays: How has your career evolved over the years and what has led you to where you are today, as Global Head of Sustainable Finance?

Ravi: Driven by a deep passion and interest stemming from my background as a Chemical Engineer, I've always aspired to combine engineering with finance. My career began in engineering, but I soon transitioned into project finance and investment banking, creating a classic blend of engineering and finance. This unique combination is what led me into this field.

Additionally, my drive is fuelled by a community perspective. Recognising the need for private capital in emerging markets, I have been involved in developing infrastructure through public-private partnerships (PPP) structures and limited recourse project finance. My work has spanned North America, Latin America, and Africa, helping these regions grow and develop vital infrastructure projects.

The last decade has been particularly fascinating due to the global fight against climate change. Addressing this challenge requires substantial investment in infrastructure and sustainability, which aligns perfectly with my passion.

Hays: How do you see the Credit market advancing/or shifting over the next few years? And how important is the role of skilled finance professionals in this development?

Ravi: When examining various sources of capital—government funds, sovereign wealth funds (SWFs), commercial banks, bonds, and recently, the private credit market—it's clear that there is ample capital available globally, including for sustainability initiatives. However, capital flow is often hindered by inadequate risk mitigation. Proper risk allocation is crucial to ensure that this capital is effectively utilised.

Sustainable finance introduces the new risk associated with emerging technologies. Financing these technologies to combat climate change requires collaboration with insurance providers to mitigate risks. Private debt, a new source of capital, is agile and sits at the intersection of credit and equity, pricing risk accurately. For private credit to thrive in the GCC, fundamental risk mitigations must be in place.

The GCC has executed a commendable privatisation program, correctly unbundling sectors and regulating monopolistic parts. Over the past 20 years, the region has successfully attracted long-term capital, making it one of the most successful stories in the Middle East. However, technology risk still needs to be addressed.

The talent pool in the GCC is expanding, with more professionals relocating to the region. Initially, the standard for project finance was not available here, with London being the hub for top talent. This is no longer the case. The best law firms and banking talent are now present in the GCC, growing rapidly. The region, particularly Riyadh, Dubai, Abu Dhabi, and Doha, is poised to become a global epicentre for finance and investment.

Hays: We have seen a significant rise in Private Debt and Private Equity across the GCC region, what are the key factors contributing to this?

Ravi: There are abundant opportunities in the region, with favourable risk-return trade-offs. The default ratios for the infrastructure sector have been very low, indicating that risks are correctly priced. Government policies have been supportive, creating significant opportunities in areas such as data centres and green hydrogen (ammonia). This is why there is a strong push in these sectors.

Capital availability is not a constraint, as the fundraising environment is very favourable. There are good pockets of liquidity from sovereign wealth funds (SWFs). Additionally, venture capital and innovation have been growing rapidly here. Similar to Silicon Valley, entrepreneurs and capital are closely mingling, which is a trend expected to continue.

The UAE offers some of the best living conditions, making it an attractive destination for talent and investment.

Hays: What was the most interesting, non-confidential, transaction you’ve worked on?

Ravi: One of the most thrilling experiences was structuring the first LNG project in India. I was responsible for this groundbreaking initiative. Additionally, I worked on the largest waste-to-energy project in the world. I've managed projects larger than a country's GDP, I thoroughly enjoyed working on them and am now looking to replicate these ventures.

Ravi Suri’s perspective underscores a powerful truth: sustainable finance thrives where innovation, risk mitigation, and talent converge. As the GCC accelerates toward a greener and more financially agile future, leaders like Ravi are paving the way.

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