Skip to main content

After 1,700% Asset Growth, China Poised to Lead ESG Push in Asia

(Bloomberg) -- China is set to post the fastest growth in Asia for environmental, social and governance investments after the country boosted exchange-traded fund assets 18-fold in the past two years, according to estimates from Bloomberg Intelligence.China's push for renewable energy and electric vehicles will spark more fund flows into ESG-related ETFs, contributing to a 20% growth in assets across Asia this year, according to BI analyst Esther Tsang."We are seeing a surge there," Tsang said. "China is going to dominate."Even with the asset growth in the past two years, China only accounts for a little over 10% of Asian ESG ETF assets under management. Japan leads the pack, accounting for about 80% of the $40 billion in ESG funds that trade on exchanges. Asia lags behind North America and Europe, accounting for less than a fifth of the $218 billion in global ETFs in this sector, according to Bloomberg Intelligence estimates from Tsang and Adeline Diab.Strong performance is adding to China's asset growth, along with fresh investment inflows. The KraneShares MSCI China Environment Index ETF that trades in New York jumped 132% in the past 12 months, lifted by its holdings of electric vehicle makers Nio Inc. and Byd Co., along with Xinyi Solar Holdings Ltd. The Global X China Clean Energy ETF in Hong Kong has also more than doubled in the past year. Read More

from Financial Post https://ift.tt/2XZ0jPT
Labels:

Comments

Post a Comment

Popular posts from this blog

Photo finish: Crashing sales force Olympus to sell iconic camera business

Sometimes, the vicissitudes of capitalism force companies to exit the businesses for which they’re best known. Olympus, once a leading light in the photography industry, is now joining that list. On Wednesday, the company said it planned to quit its 84-year-old camera business. The imaging giant, known for its once-pervasive digital cameras, agreed to sell off the declining unit by year’s end. Japan Industrial Partners, a private equity firm best known for buying Sony’s struggling Vaio computer line in 2014, agreed to purchase the business. Terms of the deal were not disclosed. A glance at Olympus’s financial statements provides all the rationale for the divestiture; as at rival manufacturers, camera sales have plummeted over the past decade. For the fiscal year ended March 31, Olympus’s camera unit declined 10% versus the year prior to  ¥43.6 billion, or $407 million. The unit’s sales have collapsed by three-quarters from a decade ago, when the company brought in ¥175 billion, or $
Post a Comment
Read more

WHO says common steroids can slash death risk for the sickest coronavirus patients

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism,  subscribe today . An old drug can learn new tricks during the coronavirus pandemic. That’s the main takeaway from the World Health Organization (WHO) in a new analysis of corticosteroids—a class of drugs which have existed for dozens of years and are far cheaper than new, experimental COVID treatments in development—suggesting that drugs like dexamethasone can slash the chances of COVID-19 related deaths by as much as 35% in the sickest patients. The WHO analysis of coronavirus drugs encompassed seven separate studies. And while an analysis of this sort—what’s called a “meta-analysis”—isn’t as rigorous as other types of trials like a randomized controlled study, the data are compelling. Corticosteroids have a very different action mechanism from many of the other coronavirus drugs in development. COVID-19 is a peculiar disease. Some who have been infected may be
Post a Comment
Read more