Caixin
May 10, 2022 07:44 PM
FINANCE

China’s Climate-Focused Funds Surpass U.S. With $47 Billion in Assets

Investors in China added $11.3 billion into climate-focused funds last year, almost double their 2020 level. Photo: Bloomberg
Investors in China added $11.3 billion into climate-focused funds last year, almost double their 2020 level. Photo: Bloomberg

(Bloomberg) — Chinese funds with a climate focus more than doubled their assets last year, passing the U.S. as the second-largest global market and bolstering Beijing’s push to meet its net-zero targets.

China’s fund assets grew to $47 billion in 2021, a 149% increase from the previous year sparked by record inflows and outperformance by the domestic clean energy sector, according to data from research firm Morningstar Inc. In the U.S., climate funds rose to $31 billion, while Europe, by far the biggest market, almost doubled to $325 billion.

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