Bank of China (Hong Kong), in collaboration with Pictet Asset Management, has launched a global environmental fund for retail investors. The fund invests in companies that offer attractive solutions in areas such as environmental protection, renewable energy and energy efficiency enhancement.
In an effort to preserve Hong Kong's marine ecosystem, BOCHK and Pictet AM have also joined forces to support the coral restoration programme of WWF-Hong Kong.
Arnold Chow, BOCHK deputy general manager of the personal digital banking product department, says: “BOCHK has constantly strived to foster the economy's transition to a low-carbon and sustainable model that can effectively address climate change.”
The bank introduced green deposits at the end of last year, with the funds being used to support green architecture and renewable energy projects.
“Though the demand for sustainable investments among Asian investors is still in a formative stage compared to that among their US and European counterparts, it is gathering momentum and the potential is massive. Investors currently prefer investing in areas that can protect the environment and provide returns at the same time. With growing public awareness of green finance and enhanced investor education, green investment products are expected to enter the mainstream and drive the demand further,” Chow notes.
BOCHK currently offers over 10 environmental, social and governance (ESG) funds approved by the Securities and Futures Commission, and plans to introduce more green investment products to enhance investment product offerings for its customers, he adds.