BNP Paribas promises quota-led ESG investment in China

Green_bondsBNP Paribas Asset Management says it is the first global fund manager to possess a quota from the Chinese authorities that will be used to channel money into an environmental, social and governance (ESG) fund. The firm’s wholly foreign-owned enterprise (WFOE), a subsidiary based in Shanghai, attained the quota under the qualified domestic limited partner (QDLP) programme. “Through this programme, qualified high-net-worth and institutional investors in China seeking to diversify their investments across an expanding range of asset classes and geographies can now access our global expertise as an investment solutions provider,” said Ligia Torres, chief executive of BNP Paribas Asset Management in Asia-Pacific. QDLP is a mechanism to allow international asset managers to raise money from onshore Chinese investors for investment in overseas assets. BNP Paribas Asset Management said it would use its QDLP quota to channel Chinese investors’ money into an ESG fund, hoping to benefit from a nascent demand in the country for responsible investment. ©2018 funds global asia

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