THIS MATERIAL IS A MARKETING COMMUNICATION.
ESG Monthly (September 2022)
This month’s highlights:
The European Union (EU) proposed a regulation to ban the placement of products made by forced labour on the EU market.
The Proposal Includes:
- All products, including EU domestic products, imports and exports, made using forced labour, covering all industries and companies from all areas.
- No blanket or rebuttable presumption ban against any particular industry or geographic origin.
- National authorities to be enforcement agents, and to “bear the burden of proof”.
- The proposal is to be discussed and agreed upon by Parliament and Council and then to be applied 24 months afterwards.
The EU’s Imports and Exports by its Top 5 Trading Partners in 2021
Source: Eurostat, March 2021
Commentary on ESG News and Developments:
Globally…
- The European Union (EU) proposed a regulation to ban the placement of products made by forced labour on the EU market.
- In the United States (US), California is planning to set a 2035 deadline for all new cars, trucks and SUVs sold in the state to be powered by electricity or hydrogen (National Public Radio, September 2022).
- The US White House announced plans to reduce climate impacts of crypto assets by setting energy-efficiency standards and potentially imposing rules at the federal-level (Bloomberg, September 2022).
- The United Nations-led Race to Zero campaign plans to introduce new criteria on ending coal financing and phasing out fossil fuels from portfolios for signatories of the Glasgow Financial Alliance for Net Zero (The Financial Times, September 2022).
- France is preparing a subsidised electric-car leasing plan, to make EVs more affordable with subsidies to make EVs available at 100 euros a month (Business Standard, September 2022).
In Asian Pacific markets…
- Thailand plans to introduce its own carbon tax so it can bargain in export markets to exempt tariffs on Thai products considering the EU’s plans to impose a carbon border tax on carbon-intensive imports from 2026 (Bangkok Post, September 2022).
- India revealed in the draft National Electricity Plan that the country will add another 28 gigawatts of coal-fired power capacity by 2032 to meet power demand that is expected to more than double over the next decade (The Economic Times, September 2022).
- Australian Senate approved the Climate Change Bill 2022, passing the country’s emissions reduction targets (to reduce greenhouse gas emissions by 43% by 2030 compared to 2005 level and to achieve net zero by 2050) into law (The Guardian, September 2022).
- China issued a 131-page response, denying human rights abuses in Xinjiang, in response to the Assessment Report on Xinjiang human rights concerns by the United Nations Human Rights Office of the High Commissioner (Reuters, September 2022).
Disclaimer & Information for Investors
No distribution, solicitation or advice: This document is provided for information and illustrative purposes and is intended for your use only. It is not a solicitation, offer or recommendation to buy or sell any security or other financial instrument. The information contained in this document has been provided as a general market commentary only and does not constitute any form of regulated financial advice, legal, tax or other regulated service.
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.
Sources: Information and opinions presented in this document have been obtained or derived from sources which in the opinion of Mirae Asset Global Investments (“MAGI”) are reliable, but we make no representation as to their accuracy or completeness. We accept no liability for a loss arising from the use of this document.
Products, services and information may not be available in your jurisdiction and may be offered by affiliates, subsidiaries and/or distributors of MAGI as stipulated by local laws and regulations. Please consult with your professional adviser for further information on the availability of products and services within your jurisdiction. This document is issued by Mirae Asset Global Investments (HK) Limited and has not been reviewed by the Securities and Futures Commission.
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.