TEMASEK Trust agreed to invest US$50 million in an HSBC Asset Management-owned Japanese solar energy company.
ABC Impact, a unit of the Singapore firm, will acquire a stake in Tokyo-based Tekoma Energy, spokespeople for ABC Impact and HSBC confirmed. Tekoma will use the new fund to develop and upscale solar photovoltaics projects.
Impact investing has been one of the most talked strategies among global funds. While in Asia managers are trying to expand their impact investing portfolio, funds in Europe and the US are dealing with stricter rules regarding standards and disclosure practices.
Tekoma started in Japan in 2013 and expanded to Taiwan in 2018. HSBC’s energy transition infrastructure team first acquired the firm in 2023.
ABC Impact manages more than US$850 million. It secured some US$550 million for its second impact fund in January. Temasek Trust receives its funding primarily from Temasek Holdings.
HSBC Asset Management has US$765 billion in portfolio as at the end of September. It manages US$70 billion in strategies on environmental, social and governance, as well as sustainability in 2023. BLOOMBERG
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