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Clifford Chance

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Clifford Chance advises Hang Seng Investment Management on first low-carbon themed A-share ETF in Hong Kong 

31 March 2023

Clifford Chance advises Hang Seng Investment Management on first low-carbon themed A-share ETF in Hong Kong 

Leading international law firm Clifford Chance has advised Hang Seng Investment Management Limited (HSVM), Hong Kong's No. 1 ETF manager in terms of assets under management, on the launch and listing on the Hong Kong Stock Exchange (HKSE) of the Hang Seng Stock Connect China A Low Carbon Index ETF (RMB counter stock code: 83038 / HKD counter stock code: 03038).

The new ETF is an index-tracking fund which aims to invest in China A-shares with low carbon exposures, and is the first low-carbon themed A-share ETF in Hong Kong. Providing investors with access to low carbon- and ESG-themed securities, constituents of the fund are included based on their compliance with the United Nations Global Compact principles and weighted based on Carbon Emission Intensity data provided by ISS ESG.

Partner Rocky Mui and team members Matthew Wan, Wynne Chan, Winni Choi and Connie Fung advised on the establishment of the ETF, preparation of the offering documents, assisted with the authorisation process with the Securities and Futures Commission (SFC) and the listing process with the HKSE.

Rocky said, "We are delighted to advise HSVM on the launch and listing of this ETF, which highlights the importance of ESG as an investment theme in Hong Kong and Mainland China. By tracking companies with low or lower carbon emissions, the ETF will help finance and accelerate the transition to a low carbon economy."