Environmental stock: LG Chem lithium-ion batteries, designed and integrated by NEC Corp, inside the LS Power Group Gateway Energy Storage project in Otay Mesa, California. Shares of the Korean electric-vehicle battery producer are up 163% this year. — Bloomberg
SINGAPORE: A top-performing environmental fund is buying more Asian stocks as governments in the region become more climate conscious and embrace renewable energy.
The BNP Paribas Energy Transition fund’s Asia allocation has increased to 18% from 11% in September, co-manager Ulrik Fugmann said in an interview. The fund, which has climbed 131% this year to beat most peers in the environmental, social and governance category, is exploring investments in China, Hong Kong, India and South Korea.
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