China ESG - Weekly News: China's First Net-Zero Venture Capital Fund Established

TEESS closes first energy company green loan in China

TEESS, a 50/50 joint venture company established by TotalEnergies and Envision, has reached financial close of a first part of a total US$80 million non-recourse debt from BNP Paribas, Société Générale, Natixis, and Crédit Agricole Corporate and Investment Bank (CIB) for a 170 megawatts (MW) portfolio in China.

This is the first international non-recourse project financing in China’s renewable sector, and the first green financing project in the country’s industrial and commercial (I&C) solar industry. It is also the first to be certified by a third party, Sustainalytics, the world's leading environmental, social and governance (ESG) rating company.

TEESS has currently 140 MW in operation, supporting 65 I&C customers in China, including leading worldwide companies, and is targeting a portfolio of over 500MW of projects in operation in the next two years.

Source: The Asset

Haitong International Debuts the World's First Asia High Yield Corporate USD Bond ESG ETF in Tie-In with Tabula

Haitong International Asset Management (HK) Limited ("Haitong International Asset Management"), a subsidiary of Haitong International Securities Group Limited ("Haitong International" or "the Group"; 665.HK), today announced the launch of the world's first ESG focused Asia ex Japan high yield corporate USD bond ETF. This ETF was jointly developed by Haitong International Asset Management and Tabula Investment Management Limited ("Tabula"), a UK-based asset manager and ETF provider.

This ETF is also Haitong International's first listed fund in Europe. The ETF tracks an Asia high yield USD bond index jointly developed by Haitong International Asset Management, Tabula and IHS Markit, and also utilizes MSCI ESG data which allows the ETF to provide professional investors with broad exposure to Asia ex Japan USD High Yield bonds while aiming to deliver enhanced liquidity and ESG profile. The ETF will be managed by Haitong International Asset Management, whose deep market expertise in Asia bond market and rich understanding in sustainable investing in emerging markets will aid in trade execution and optimizing portfolio construction.

Source: Yahoo

China's First Net-Zero Venture Capital Fund

The Envision Sequoia Carbon Net-Zero Fund was established in Wuxi High-tech Zone on September 6. The first phase is to raise 5 billion yuan. Through Envision Zero Carbon Digital Innovation Center and Sequoia Low Carbon Technology Industry Incubation Center, Wuxi will be empowered from the technological innovation and accelerate the construction of a zero-carbon industrial system.

Source: Sina

Dutch fund firm Aegon scores QDLP licence qualification in China

Netherlands-based Aegon Asset Management has completed its registration as a qualified domestic limited partner manager in China, enabling it to offer investment products to onshore institutions and high-net-worth individuals.

The Dutch fund firm has registered with the Asset Management Association of China as a QDLP manager two years after setting up a wholly foreign-owned enterprise unit in Shanghai. The newly licensed unit is set to roll out a QDLP fund for Chinese investors soon, according to a company statement.

With a QDLP licence, foreign firms are allowed to raise money from institutions and HNWIs in China to invest in global markets, mostly in alternative assets.

Source: Ignites Asia

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