China ESG - Weekly news update May 2020 / 02

Government welcomes HKQAA's Green Finance Certification Scheme - ESG Fund

The Hong Kong Quality Assurance Agency (HKQAA) today (May 14) announced the launch of its Green Finance Certification Scheme - ESG Fund to provide third-party conformity assessments on the environmental, social and governance (ESG) fund and further promote ESG initiatives with a view to directing capital flows towards green and sustainable uses.

The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, "We welcome the HKQAA's launch of its Green Finance Certification Scheme - ESG Fund. Building on the success of the certification scheme for green debt instruments and the green fund introduced in 2018 and 2019 respectively, the extension to the ESG fund will promote more disclosure and strengthen market confidence in green financial products as we continue to develop and consolidate Hong Kong as the leading hub for green finance in the region.

"We are pleased to note the increasing market awareness of ESG efforts in Hong Kong. The Government will continue to support the certification scheme and encourage more local, Mainland and overseas entities to make use of the scheme and Hong Kong's capital markets for ESG investments and financing."

source from HK Gov

Noah Holdings and Gopher Asset Management Join PRI to further its ESG practices

SHANGHAI, May 7, 2020 /PRNewswire/ -- Noah Holdings Limited (NYSE: NOAH, Noah), a leading wealth and asset management service provider in China with a focus on global investment and asset allocation services for high net worth individuals and enterprises, has officially become a signatory of the UN-supported Principles for Responsible Investment (PRI) investor initiative on April 28, 2020. Noah's asset management business, Gopher Asset Management (Gopher), a leading alternative multi-asset manager in China with overseas offices in Hong Kong, United States and Canada, also joined PRI as a signatory on the same day. Noah is the first independent wealth management firm from China to participate in this initiative.

The participation of Noah and Gopher aims to promote responsible investment from both wealth management and asset management end, to promote an environmental, social and governance (ESG) platform that practices sustainable development, and delivers long-term social momentum. Both parties are signed as service providers and asset managers at the same time.

This year marks the 15th anniversary of Noah's independent operation, the 10th anniversary of its listing on the NYSE, and the 10th anniversary of Gopher's establishment. Membership of the PRI marks Noah's solid step towards sustainable development and responsible investment in line with international standards. As the leading brand of China's market-oriented Fund of Funds(FoF), joining PRI urges Gopher to apply the concept of responsible investment to its investment management and decision-making process, to improve its risk management, and strive to create long-term and sustainable returns for investors.

source from Yahoo Finance

Deutsche Bank hires Kamran Khan as first Asia Pacific head of ESG

Deutsche Bank has appointed the company’s first head of ESG (environmental, social and governance) for Asia Pacific. Taking on the role is former World Bank, JP Morgan and Obama adminstration executive Kamran Khan, who joins the multinational bank from sustainable investment firm Infra-Tech, where he was chief executive and managing partner.

Souce from