China ESG - Weekly news update Sep 2020 / 04

Truvalue Labs and Solactive Launch a New Generation of AI-Powered ESG Indexes

SAN FRANCISCO, CA / ACCESSWIRE / September 9, 2020 / Truvalue Labs, the pioneer in AI-driven environmental, social, and governance (ESG) data, along with Solactive, the German index engineering firm, today announced the launch of the Solactive Truvalue ESG Index Series. These indices are designed to provide investors with diversified exposure to global large- and mid-cap equities with strong ESG characteristics.

Source: Yahoo

Moody’s Launches Comprehensive ESG Solutions Group

LONDON--(BUSINESS WIRE)--Moody’s Corporation (NYSE: MCO) announced today the formation of an Environmental, Social, and Governance (ESG) Solutions Group to serve the growing global demand for ESG insights. The group leverages Moody’s data and expertise across ESG, climate risk, and sustainable finance, and aligns with Moody's Investors Service (MIS) and Moody's Analytics (MA) to deliver a comprehensive, integrated suite of ESG customer solutions.

Source: Business wire

Nikko AM debuts Japan's first ESG-focused REIT ETF

Japanese fund house Nikko Asset Management has launched Japan's first real estate investment trust exchange-traded fund focused on environmental, social and governance factors.

Nikko AM launched the Listed Index Fund Nikkei ESG-REIT on September 3, before listing the new ETF on the Tokyo Stock Exchange on September 7, the firm says in a statement released last month. This is the fifth REIT ETF launched by the firm in Japan, information on the Tokyo Stock Exchange’s website shows.

Source: Ignite Asia

BlackRock, Fidelity shutter China onshore private funds: sources

BlackRock and Fidelity have moved to close their respective onshore China funds, sources with knowledge of the matter tell Ignites Asia, marking the first-ever closures of local private funds by global managers.

The private fund terminations come as the two firms are making inroads into China’s retail public funds market, with BlackRock receiving initial approval in late August for a new retail fund unit and Fidelity lodging its application in May.

The fund closures are part of a bigger plan by the two U.S. managers to clear the way for their retail fund management businesses, as local regulations require existing private securities investment products run by retail fund applicants to either be terminated or converted into discretionary products under the new unit, two Shanghai-based sources tell Ignites Asia.

Fidelity plans to liquidate at least one of its private funds as it prepares to set up its public fund unit, a source with first-hand information says, but it is not clear which of its four products in China will be phased out.

Source: Ignite Asia

China stocks rise as STAR Market shines on regulatory nod to launch ETFs

SHANGHAI, Sept 14 (Reuters) - Chinese shares rose on Monday, with Shanghai’s Nasdaq-style STAR Market leading gains after securities regulator approved the first batch of exchange-traded funds (ETFs), which are expected to draw fresh funds into the market.

** Shanghai’s tech-focused STAR50 index was up 3.31%, while the start-up board ChiNext Composite index was higher by 1.8%. ** China Asset Management Co (ChinaAMC), E Fund Management Co and Huatai-PineBridge Fund Management Co said separately on Friday they had received regulatory approval to launch ETFs tracking the benchmark STAR50 index.

Source: Reuters

Hong Kong, Singapore in race to be Asia’s sustainability centre

judging from developments in the wake of the Covid-19 pandemic, the race between Hong Kong and Singapore to become the centre for sustainable investing in Asia has intensified.

In a period of two months, regulators in both financial centres launched initiatives to strengthen guidelines for sustainable investing that are expected to be implemented quickly. The fact that these stricter rules are coming as the financial sectors in both cities are still coping with the impact of the pandemic seems to be academic.

In June, the powerful Monetary Authority of Singapore (MAS) – which has always been a step ahead of most of its Asian counterparts when it comes to paving the way for new regulatory developments – launched a consultation with the local financial sector that focused on stricter environmental risk management guidelines for asset managers, insurers and banks.

The proposed MAS guidelines are intended to drive the transition to an environmentally sustainable economy by enhancing the integration of environmental risk considerations in financial institutions’ investment decisions and promoting new opportunities for green financing. The consultation, which began June 29 and ended August 7, will be followed by a 12-month transition period that will begin once the guidelines are finalized.

Source: The Asset

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