A major Chinese asset manager has signed up to a United Nations-backed global charter on responsible investment.
The decision by Harvest Fund Management to support the Principles of Responsible Investment (PRI) is notable because, to date, relatively few Chinese companies have joined the scheme. The website of the PRI currently lists just nine China-based signatories, including Harvest. Other Chinese signatories include E Fund Management and Jade Invest.
“The Chinese asset management industry has entered into a new stage of development, and responsible investment has become an inevitable trend in China,” said Henry Zhao, Harvest group chairman.
The PRI works to popularise methods of investment that promote good outcomes on environmental, social and governance (ESG) measures. Although well established in the US and Europe, ESG investing has yet to become a mainstream investment trend in Asia.
Harvest Fund Management had the equivalent of $124 billion under management at the end of last year.
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