Taiwan fund to issue $2.3 bln climate change pension mandate, Asia’s first -official
Taiwan’s largest pension fund is set to issue what a top official said is Asia’s first climate change-focused stock mandate, worth $2.3 billion, amid mounting pressure for the global financial sector to support green investing.
The open-tender bidding process for asset managers seeking to be involved in the Bureau of Labor Funds mandate will commence in the first quarter of the year, Liu Liju, deputy director general at the fund, told Reuters in an interview.
The fund has Taiwanese $5.5 trillion ($199 billion) worth of assets, with around half of it invested in offshore markets, and currently global asset managers including BlackRock Inc (BLK.N), Fidelity Investments, and PIMCO manage the assets.
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