摘要： Harvest Global Investments is a fully owned subsidiary of Harvest Fund Management, one of the largest asset management companies in China with almost USD 140 billion in secondary market assets under management. As the international arm of the Harvest Group, Harvest Global Investments has been serving as the global gateway for global investors to access to China’s capital markets and the opportunity to participate in its rapid growth since 2008. As the CIO of Harvest Global Investments, I oversee all investment activities conducted by Harvest Global Investments and lead ESG initiatives for the Harvest Group.

▲圖片標題(來源： Thomas Kwan, Harvest Global Investments )

How does a firm build an ESG investment framework?

Harvest combines the strengths of international ESG standards and local factors that could weigh on a Chinese company’s growth sustainability. We developed our proprietary ESG investment framework based on extensive research of global frameworks, and applying local expertise and understanding of material ESG issues and trends in the local market. There are a few key considerations for us to take this approach: first and foremost, we want to improve the overall ESG data accessibility and quality in China to gain insights in a company’s capacity for long-term sustainable development. Second, we want to leverage the ESG framework to generate alpha returns for the portfolios we manage and mitigate market downside risks in China. Last but not least, with a team of seven dedicated ESG specialists in Beijing and Hong Kong, the most among Chinese asset managers, Harvest has demonstrated that insufficient ESG data quality in the market can be supplemented by rigorous,in-depth research performed by in-house ESG data scientists and investment analysts.

How does the Harvest Investment team utilize ESG?

At Harvest, the investment team is a critical component of our ESG research and integration program. Our analysts contribute to our ESG research via inputs into our proprietary ESG model. The model’s output – in the form of ESG scores and insights – is then utilized by sector analysts and portfolio managers in their investment decisions. Our ESG model evaluates non-financial aspects of companies to assess their ability to conduct businesses against various tail risks, including environmental, social, and corporate governance, as well as physical and transitional risks arising from changes in regulations and policy. We also analyze ESG performance from a portfolio perspective, and consider underweighting or divesting significant laggards in order to maintain a relative portfolio ESG level.

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