China ESG - Weekly news update: China aims for 'carbon neutrality by 2060' 

Updated: Oct 8, 2020

Climate change: China aims for 'carbon neutrality by 2060' 

China will aim to hit peak emissions before 2030 and for carbon neutrality by 2060, President Xi has announced, who outlined the steps when speaking via videolink to the UN General Assembly in New York.The announcement is being seen as a significant step in the fight against climate change. China is the world's biggest source of carbon dioxide, responsible for around 28% of global emissions.


Source: BBC

IGF issues ESG ratings for Chinese mutual funds

In order to further apply the localized ESG indicator system to conduct ESG ratings and conduct ESG ratings for fund products in the Chinese market and comprehensive coverage to provide investors with a decision-making basis, and for identifying high-quality investment targets, The China Finance University Green Finance Institute conducts research on the ESG ratings of localized funds.

Professor Wang Yao said that ESG integrates the performance of companies in the three dimensions of environment, social and governance, and can comprehensively evaluate the sustainable development capabilities of fund products. To this end, IIGF has developed the country's first localized, systematic and universal ESG mutual fund rating system, and has completed the latest ESG rating of China's mutual fund, with a view to filling the gap in the ESG rating of mutual funds in the domestic market.

Source: IIGF

BOC brings blue bonds to Asia

Bank of China priced the world's first blue bonds from a commercial bank with a US$942m-equivalent dual-currency deal to support ocean conservation.

Through its Paris branch, the A1/A/A rated Chinese lender priced US$500m of 0.950% three-year blue bonds last Monday at 99.694 to yield 1.054%, or Treasuries plus 90bp, the tight end of final guidance of 90bp–93bp and well inside initial 130bp area guidance.BOC's Macau branch also priced Rmb3bn (US$442m) of two-year blue bonds in the Dim Sum market at par to yield 3.15%, 35bp tighter than initial 3.5% area guidance.

Source: Refinitiv

Manulife Investment Management launches Asia-focused ESG fixed-income fund 

Manulife Investment Management has launched the Manulife Global Fund - Sustainable Asia Bond, its dedicated environmental, social and governance (ESG) strategy, focused-on-Asian credit. The fund aims to generate the best possible risk-adjusted returns by primarily investing in Asian bond issuers that demonstrate superior sustainability attributes, offering investors an alternative Asian fixed-income solution that can provide enhanced financial and social values. 

Source: The Asset

OpenInvest launches ESG reporting software

OpenInvest, a digital advice fintech focused on impact investing, announced Wednesday the roll out of a new subscription-based service designed for independent advisers to deliver reports that visualize the ESG impact on an investor’s holdings.Portfolio Diagnosis, which has been in development during the last three years, is a system that analyzes billions of data points from in-house research to sustainability experts, like the Carbon Disclosure Project, to illustrate to investors the impact of their environmental, social and governance investments.Advisers can even show investors that their investments translate into a number of trees planted or an amount of carbon not emitted into the atmosphere, according Josh Levin, co-founder of OpenInvest.

Source: Investment News

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