BEIJING, March 21, 2017 /PRNewswire/ -- China Asset Management Co., Ltd. (ChinaAMC) has joined the United Nations-supported Principles for Responsible Investment (PRI), becoming the first full service asset manager in China to join the organization. The PRI is recognized as the leading international network of investors who are committed to integrating environmental, social and governance (ESG) considerations into their investment process and ownership practices. ChinaAMC is committed to implement and promote the principles in its investment activities in China.
"This is an opportune time to implement responsible investing in China. It creates a win-win situation where we can fulfill our corporate social responsibility while generating returns for our investors. As the Chinese economy develops, there has been an increased focus on environmental, sustainable, and ethical investment practices," said Xiaodong Tang, Chief Executive Officer of ChinaAMC. "PRI's principles are aligned with our commitment to sustainable investment practices. It is also consistent with our fiduciary duty on maximizing returns of our clients. We will embark on the ESG endeavor by first developing clean energy strategies and fund. As an industry leader, ChinaAMC will continue to play an active role at the forefront of China's asset management sector."
"We are delighted to welcome China Asset Management Company to the PRI," said managing director Fiona Reynolds. "Investors worldwide are increasingly recognising that ESG issues present material risks to their investments while at the same time, presenting new opportunities in areas such as renewable energy. We look forward to working with China Asset Management and hope that other Chinese investment managers will follow their lead."
About China Asset Management Company
Founded in 1998, China Asset Management Company is a leading Chinese asset management firm providing investment management, advisory and related services to retail and institutional clients. As of December 2016, the company has over $173 billion in assets under management.
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SOURCE China Asset Management Co., Ltd. (ChinaAMC)