PAAMC HK's Fund Once Again Awarded ESG Fixed Income Fund of the Year (Asia) by Environmental Finance

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Launched in 2019, the Fund is one of the few Asia-focused green bond funds that has a track record longer than three years.

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Provider: 
PR NewswirePR Newswire
Retrieved on: 
Monday, July 3, 2023
Information
Tags: 
Environmental finance, Green bond, International Capital Market Association, Partnership, Task force, Socially responsible investing, Capital market, UNPRI, TCFD, ICMA, FSB, United Nations Principles of Medical Ethics, China Asset Management, CBI, G20, CIO, ESG, Seemabaddha, Strategic sustainable investing, Fund, Cryptocurrency, Security (finance)
Geotags: 
HONG KONG, CHINA, UNITED KINGDOM, GERMANY, PORTUGAL, NETHERLANDS, POLAND, FRANCE, SWEDEN, LUXEMBOURG, NORWAY, SPAIN
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Organisation: 
PING AN OF CHINA ASSET MANAGEMENT (HONG KONG), PING AN OF CHINA ASSET MANAGEMENT (HONG KONG) COMPANY LIMITED
Summary
Key Points: 
  • Launched in 2019, the Fund is one of the few Asia-focused green bond funds that has a track record longer than three years.
  • At least 80% of the Fund is fixed income instruments that CBI has deemed "eligible green".
  • The Fund also received the same award in 2021, making this year's win a testament to its continued excellence.
  • At the fund level, PAAMC HK collects and tracks environmental data meticulously.


PAAMC HK's Fund Once Again Awarded ESG Fixed Income Fund of the Year (Asia) by Environmental Finance

HONG KONG, July 3, 2023 /PRNewswire/ -- Ping An of China Asset Management (Hong Kong) Company Limited ("PAAMC HK") the offshore asset management platform of Ping An Group, is delighted to announce that Ping An of China Asset Management Fund - China Green Bond Fund (the "Fund"), has been honored once again with "ESG Fixed Income Fund of the Year (Asia)[1]" at Environmental Finance's Sustainable Investment Awards 2023.

Launched in 2019, the Fund is one of the few Asia-focused green bond funds that has a track record longer than three years. PAAMC HK has maintained a consistent partnership with Climate Bonds Initiative ("CBI") since fund inception and has applied their rigorous set of green taxonomy standards - in line with the International Capital Markets Association (ICMA) Green Bond Principles[2] - in the evaluation and selection of green bonds. At least 80% of the Fund is fixed income instruments that CBI has deemed "eligible green". The remainder are bonds that are being reviewed or have been classified green under other standards.

The Fund also received the same award in 2021, making this year's win a testament to its continued excellence. It tracks environmental data from issuers at the project level rather than at the company level to better target green projects that will deliver greater impact. According to the judging panel, it was this focus on impact that helped it win the award.

At the fund level, PAAMC HK collects and tracks environmental data meticulously. The results are published in the annual green impact report of the Fund, which has been available since 2021[3].

Mr. Albert Wang, Head of Capital Markets and CIO of PAAMC HK, commented,

"We are honored to receive this award again, which recognizes our unwavering commitment to ESG investing, and our dedication to selecting the best-quality green bonds with both favorable yields and solid fundamentals. Particularly, Chinese green bonds provide the much-desired diversification to global bond portfolios. We believe that investing in green projects is not only good for our planet but also makes good business sense."

Ping An Group has been a pioneer in ESG investing in China. In 2019, it became the first China asset owner to sign the United Nations Principles for Responsible Investment (UNPRI) and the first financial institution in China to disclose environmental information in accordance with the framework proposed by the Taskforce on Climate-Related Financial Disclosure (TCFD) of the G20 Financial Stability Board (FSB) [4].

The 2023 Sustainable Investment Awards, organized by Environmental Finance, are global and seek to recognize asset managers, analysts and data providers incorporating ESG across all asset classes - fixed income, listed and private equity, debt funds, multi asset funds, infrastructure funds and fund of funds.

 

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