HONG KONG : The fund management arms of HSBC and Morgan Stanley were among three others to win a mandate from Taiwan's largest pension manager to run Asia's first climate change-focused fund worth a total $2.3 billion in assets.
The selection of HSBC for the climate change-focused fund comes weeks after a senior banker at the lender downplayed the climate risks which drew queries from staff and customers about its commitment to fight climate change. The Taiwanese pension fund, however, engaged an independent consultant to assess whether the Asia-focussed bank was still qualified for a possible role after Kirk's controversial comments.
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