THIS MATERIAL IS A MARKETING COMMUNICATION.
ESG Monthly (January 2023)
We are delighted to announce that we have converted 4 more UCITS funds to comply with the SFDR1
Article 8. We now have 7 UCITS funds that comply with the SFDR Article 8, as well as 3 ETFs that are SFC-authorised green and ESG funds. The firm’s ESG product offerings now represent 29% of the firm’s total AUM (as of 30 December 2022)2.
Our SFDR Article 8 funds aim to promote environmental and social characteristics. In addition to adopting ESG exclusions, we select best-in-class companies based on their ESG performance.
Commentary on ESG news and developments:
Globally…
- The European Union (EU) Commission launched the Green Deal Industrial Plan at the World Economic Forum in Davos to boost investment and financing of clean tech production (EU Commission, January 2023).
- The United States Department of Energy announced US$118 million in funding for 17 projects to accelerate the production of sustainable biofuels for America’s transportation and manufacturing needs (ESG News, January 2023).
- The European Central Bank announced a series of new climate-related statistical indicators for analyzing and monitoring the sustainable finance market (European Central Bank, January 2023).
- The EU released draft proposals that require companies in EU countries to provide scientific evidence to support any environmental claims made about their products (Reuters, January 2023).
- The United Kingdom will ban single-use plastic cutlery and plates starting October this year to reduce plastic pollution (Bloomberg, January 2023).
In Asia Pacific Markets…
- Taiwan passed the (renamed) Climate Change Response Act introducing a carbon pricing mechanism for high-emitting companies (Environmental Protection Administration, January 2023).
- Singapore finalised listing rules to limit the tenure of independent directors to nine years after which directors will not be deemed independent (Singapore Exchange Regulation, January 2023).
- The Government of India issued its first-ever green bond aiming to raise approximately US$2 billion to support green infrastructure projects (Reserve Bank of India, January 2023).
- India set green hydrogen consumption targets for some industries, such as shipping and steel, to encourage higher demand for cleaner fuel (Reuters, January 2023).
- South Korea published evaluation guidelines for environmental, social and governance (ESG) bonds to apply to credit rating agencies effective from February 1 (Korea Economic Daily, January 2023).
1. SFDR stands for Sustainable Finance Disclosure Regulation
2. Source: Mirae Asset HK, January 2023
Disclaimer & Information for Investors
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The views and information discussed or referred in this document are as of the date of publication. Certain of the statements contained in this document are statements of future expectations and other forward-looking statements. Views, opinions and estimates may change without notice and are based on a number of assumptions which may or may not eventuate or prove to be accurate. Actual results, performance or events may differ materially from those in such statements. In addition, the opinions expressed may differ from those of other Mirae Asset Global Investments’ investment professionals.
Investment involves risk: Past performance is not indicative of future performance. It cannot be guaranteed that the performance of the Fund will generate a return and there may be circumstances where no return is generated or the amount invested is lost. It may not be suitable for persons unfamiliar with the underlying securities or who are unwilling or unable to bear the risk of loss and ownership of such investment. Before making any investment decision, investors should read the Prospectus for details and the risk factors. Investors should ensure they fully understand the risks associated with the Fund and should also consider their own investment objective and risk tolerance level. Investors are advised to seek independent professional advice before making any investment.
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Information for EU investors pursuant to Regulation (EU) 2019/1156: This document is a marketing communication and is intended for Professional Investors only. A Prospectus is available for the Mirae Asset Global Discovery Fund (the “Company”) a société d'investissement à capital variable (SICAV) domiciled in Luxembourg structured as an umbrella with a number of sub-funds. Key Investor Information Documents (“KIIDs”) are available for each share class of each of the sub-funds of the Company.
The Company’s Prospectus and the KIIDs can be obtained from www.am.miraeasset.eu/fund-literature . The Prospectus is available in English, French, German, and Danish, while the KIIDs are available in one of the official languages of each of the EU Member States into which each sub-fund has been notified for marketing under the Directive 2009/65/EC (the “UCITS Directive”). Please refer to the Prospectus and the KIID before making any final investment decisions.
A summary of investor rights is available in English from www.am.miraeasset.eu/investor-rights-summary.
The sub-funds of the Company are currently notified for marketing into a number of EU Member States under the UCITS Directive. FundRock Management Company can terminate such notifications for any share class and/or sub-fund of the Company at any time using the process contained in Article 93a of the UCITS Directive.
Hong Kong: This document is intended for Hong Kong investors. Before making any investment decision to invest in the Fund, Investors should read the Fund’s Prospectus and the information for Hong Kong investors (of applicable) of the Fund for details and the risk factors. The individual and Mirae Asset Global Investments (Hong Kong) Limited may hold the individual securities mentioned. This document is issued by Mirae Asset Global Investments (HK) Limited and has not been reviewed by the Securities and Futures Commission.
Copyright 2023. All rights reserved. No part of this document may be reproduced in any form, or referred to in any other publication, without express written permission of Mirae Asset Global Investments (Hong Kong) Limited.