每经记者｜黄宗彦 每经编辑｜魏官红 2022年10月，每经品牌价值研究院构建ESG公募基金数据库，并自此推出"ESG公募基金周榜"，通过追 踪ESG基金表现、分析排名及变动背后可能的原因，帮助投资者更好地了解、识别、筛选更具投资价值 的ESG基金。 本期ESG公募基金周榜的观察周期为8月11日至8月15日，最新净值以8月15日为准。统计结果显示，本 期上榜基金延续强势表现，其中泛ESG主题产品依然领涨：主动型平均收益率最高，达11.25%；指数型 平均收益率为7.77%。 纯ESG主题方面，主动型表现优于指数型：前者平均收益率为5.82%；后者为2.22%。 ESG基金收益率周榜TOP10 | 基金代码 | 基金名称 | 最新净值 | 近一周收益率 | 近三月收益率 | 成立以来收益率 | 成立时间 | | --- | --- | --- | --- | --- | --- | --- | | | | (元) | (%) | (%) | (%) | | | 007689 | 国投瑞银新能源A | 1.8211 | 17.29 | 40.73 | 94.16 | 2019-11-18 | | 012102 | ...

Group 1 - The core idea emphasizes that listed companies are leveraging innovative practices to build both economic and ecological "gold mountains," injecting strong momentum into sustainable development through green technology innovation, circular economy practices, and green financial tools [1] - Nearly 2,700 listed companies mentioned energy conservation and emission reduction in their 2024 annual reports, showcasing a trend towards green and efficient industrial practices [1] - Companies like Jun Ding Da, Yanjing Beer, Longlide, and Pulit have reported significant reductions in waste emissions and resource consumption through technological upgrades, highlighting a shift towards greener production methods [1] Group 2 - The new energy industry is identified as a core driver of green development, with companies like CATL and BYD reporting substantial profit growth, indicating a robust market for electric vehicles [2] - Green finance is becoming a key engine for driving economic green transformation, with financial institutions incorporating environmental risks into their credit processes, thus facilitating lower financing costs for companies pursuing green development [2] - The rapid growth of ESG investments is projected to exceed $50 trillion by 2025, positioning green transformation as a fundamental pillar for attracting long-term capital [2]

Market Performance - The A-share market showed overall recovery from August 4 to August 8, 2025, with the CSI 300 index rising by 1.23%, the ESG 300 index increasing by 1.06%, and the STAR Market ESG index up by 1.31%[5] - The average daily trading volume across the A-share market was approximately 1.70 trillion RMB, indicating a contraction in liquidity compared to previous periods[5] ESG Fund Issuance - No new ESG fund products were issued in August 2025; however, a total of 241 ESG public funds were launched in the past year, with a total issuance of 171.41 billion units[7] - As of August 10, 2025, there are 910 existing ESG fund products, with the largest share being ESG strategy funds at 50.33% of the total net asset value of 1,022.06 billion RMB[9] Fund Performance - The top-performing fund for the week of August 4 to August 10, 2025, was the Zhonghai Charm Yangtze River fund, achieving a weekly return of 6.14% and a year-to-date return of 29.00%[10] - Other notable funds included the Robeco Resource Selection and Yongying New Energy Selection, which also performed well during the same period[10] Green Bond Issuance - A total of 23 new green bonds were issued in the interbank and exchange markets from August 4 to August 8, 2025, with a planned issuance scale of approximately 18.64 billion RMB[13] - In August 2025, 33 ESG bonds were issued, amounting to 15.3 billion RMB, with a total of 1,034 ESG bonds issued in the past year, totaling 1,227.7 billion RMB[13] Green Bond Trading - The total trading volume of ESG green bonds for the week was 562.58 billion RMB, with the interbank market accounting for 77.45% of the total trading volume[17] - Repo transactions dominated the trading methods, comprising 94.96% of the total trading volume, while cash transactions accounted for only 0.07%[20] Bank Wealth Management Products - In August 2025, 30 ESG bank wealth management products were issued, with a total of 1,049 existing products in the market as of August 10, 2025[18] - The largest share of existing products is pure ESG-themed products, which account for 54.53% of the total[18] Risk Factors - Potential risks include insufficient policy support for ESG initiatives, lack of standardized data reporting, and lower-than-expected product issuance scales[19]

Core Viewpoint - ABC Wealth Management Co., Ltd. emphasizes its commitment to providing flexible and secure wealth management products that cater to diverse customer needs, while also focusing on sustainable and responsible investment practices. Group 1: Product Offerings - The "农银时时付" series has expanded to over 20 products with a total fundraising scale exceeding 700 billion [5][6] - The "农银天天利" series, launched in 2021, has raised nearly 270 billion, offering daily liquidity and flexible access to funds [6][7] - The ESG series, introduced in 2019, reached a peak scale of over 800 billion, prioritizing investments in clean energy and environmental protection [9][10] Group 2: Performance Metrics - The "农银天天利" series has a recent annualized return of 2.01% and a cumulative annualized return since inception of 3.44% [7] - The "农银匠心·灵动" ESG product has an annualized return of 5.00% for 2024, with over 80% of assets in fixed income [10] - The "低波悦享" series, launched in 2023, has a scale exceeding 400 billion and aims for zero drawdown in its investment strategy [14] Group 3: Target Audience - The "农银时时付" products are designed for individual investors, providing a cash management solution [5] - The "农银天天利" series caters to both individual and corporate clients, enhancing liquidity and investment flexibility [7] - The "乡村振兴" series targets county-level clients, focusing on rural revitalization and agricultural support [11][12]

Group 1 - The issuance of green bonds in China has declined significantly, with a 14.96% decrease in quantity and a 46.75% decrease in amount in the first half of 2024 compared to the previous year, marking a consecutive decline since 2023 [1][3] - The total number of green bonds issued in China in 2023 was 479, reflecting a year-on-year decrease of 15.67% [1] - Green credit remains the dominant channel for ESG investment by banks, accounting for over 80% of the total ESG investment scale of 33.06 trillion yuan as of Q3 2023 [2][3] Group 2 - The structure of green bond issuance is heavily skewed towards state-owned enterprises, with only 21 out of 142 issuers being non-state-owned in the first half of 2024 [3] - The scale of green credit in China has expanded from 8.23 trillion yuan at the end of 2018 to 28.58 trillion yuan by Q3 2023, maintaining the largest global share [2] - ESG-themed wealth management products in banks are still in the experimental stage, with a total balance of approximately 188 billion yuan as of June 2024, compared to over 500 billion yuan for public funds [4] Group 3 - The lack of standardized ESG information disclosure and regulatory frameworks poses challenges for banks in diversifying their ESG investment offerings [6][7] - The current market environment has led banks to be more cautious regarding their capital status, limiting the channels and supply of ESG investments [6] - The phenomenon of "greenwashing" is prevalent, with 50% of surveyed institutions acknowledging its common occurrence, highlighting the need for improved transparency in ESG products [8] Group 4 - Recent policies aim to enhance support for transition finance and green financing costs, encouraging banks to guide credit resources towards green projects [9] - Innovations in ESG credit services are being introduced by some banks, such as unique loan products for carbon credits and environmental projects [11] - The potential for direct financing in the green sector is expected to rise from 10% to 40% as the industry evolves, indicating a promising outlook for green finance investments [11]

Core Viewpoint - The article emphasizes the importance of enhancing the diverse social value of listed companies, focusing on integrity, green transformation, and cultural leadership as key components of their societal impact [6][7]. Group 1: Diverse Social Value of Listed Companies - Listed companies play a significant role as influential social entities, with their social behavior being a focal point of market attention [7]. - The evaluation of listed companies' social value is multi-dimensional, involving various stakeholders such as financial investors, employees, consumers, and non-profit organizations [7][8]. - The social value of listed companies is interconnected, with credit value serving as the foundation, green value guiding sustainable practices, cultural value shaping product and service orientation, and strategic value aligning with national development goals [9][6]. Group 2: Enhancing Credit Value - Credit value reflects a company's ability and willingness to fulfill commitments, impacting its reputation and operational stability [11]. - Companies should prioritize integrity in their operations, recognizing the importance of credit management and establishing systems to enhance credit ratings [12][13]. - High-quality information disclosure is crucial for improving credit value, with companies encouraged to adopt transparent practices and utilize various communication channels [14][15]. Group 3: Promoting Green Value - Green value is defined as the ability of listed companies to transform ecological responsibilities into sustainable competitive advantages through green technologies [16]. - The relationship between green ecological value and market performance is significant, with compliance to environmental standards becoming a prerequisite for market participation [17][18]. - Companies are encouraged to integrate green technology innovations into their strategies, balancing short-term costs with long-term benefits [19][20]. Group 4: Cultural Value Enhancement - Cultural value encompasses a company's ability to guide social cultural development and meet the high-quality living demands of residents [23]. - Companies face challenges in aligning their products and services with consumer needs, often lacking in high-quality offerings and cultural integration [24][26]. - To enhance cultural value, companies should focus on innovative supply strategies that resonate with consumer aspirations and cultural identity [27][28]. Group 5: Strategic Value Integration - Strategic value involves aligning company operations with national development goals, leveraging core technologies and regional resources [30][31]. - Companies are urged to proactively integrate their strategies with national initiatives, identifying new opportunities for growth [32][33]. - The strategic value of companies is linked to their ability to access and utilize government resources and support for development [33].

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Group 1: Core Insights - China has become a significant force in the global economic landscape, influencing business and investment decisions amid complex market conditions [1][2] - Tim Campbell, CEO of Baillie Gifford, emphasizes the importance of long-term investment strategies and the need to focus on long-term trends rather than short-term noise [1][2][9] Group 2: ESG Investment Perspective - ESG factors are critical in the investment process, especially for long-term holdings, as companies with poor ESG practices struggle to succeed over time [2][12] - Baillie Gifford engages with portfolio companies to ensure adherence to the highest industry standards for sustainable development [2][12] Group 3: Emerging Market Opportunities - Tim Campbell expresses optimism about the investment potential in emerging markets, particularly China, highlighting rapid developments in electric vehicles, e-commerce, and solar energy [2][15] - The resilience of China's consumer market and technological innovation capabilities position it well to navigate tariff policies and geopolitical uncertainties [2][11] Group 4: Investment Decision Factors - Successful investment relies on a well-structured investment team culture and incentive mechanisms, with a focus on long-term performance [6][9] - Unique and valuable research inputs are essential for making differentiated investment decisions, as demonstrated by Baillie Gifford's early investments in companies like Tesla [7][9] Group 5: China's Competitive Edge - Chinese companies exhibit remarkable efficiency and competitiveness, which are crucial for their success in the global market [18][19] - The intense competition in sectors like electric vehicles and solar energy drives Chinese firms to excel and innovate [19][20] Group 6: Future Economic Trends - Despite current economic challenges, the long-term growth trajectory of the Chinese economy remains positive, with significant achievements in poverty alleviation and GDP growth [20][21] - Key sectors for future growth in China include healthcare, e-commerce, and renewable energy, with a focus on identifying valuable investment opportunities [21][22]

Group 1 - The core viewpoint is that China's foreign investment policies are yielding positive results, with significant foreign investment projects showing progress and improving the quality of investment in the country [1][2] - Foreign investment is crucial for promoting high-level opening-up, with many foreign enterprises reinvesting profits earned in China, indicating strong confidence in the Chinese market [1] - Key sectors attracting foreign equity investment include new energy vehicles, healthcare, and green economy, with a notable increase in ESG investments [1] Group 2 - China is accelerating institutional opening-up, with a series of policies introduced to facilitate foreign equity investment [2] - The "2025 Action Plan for Stabilizing Foreign Investment" encourages foreign investment in equity and provides operational guidelines for strategic investments [2] - Measures to optimize the foreign equity investment policy system are being explored through pilot programs in free trade zones and service industry expansion, aimed at attracting more global capital [2]

Core Viewpoint - The issuance of the "Green Finance Support Project Directory (2025 Edition)" by the People's Bank of China and other regulatory bodies marks a significant step in unifying standards for green financial products, expanding the scope of green finance to include green trade and consumption, thereby enhancing support for environmental improvement and industrial transformation [1][2][3]. Summary by Relevant Categories Green Finance Product Standards - The new directory includes nine categories such as energy-saving and carbon reduction industries, environmental protection industries, resource recycling industries, and green consumption, establishing a unified standard for green financial products [2][3]. - The directory addresses the previous inconsistencies in green finance standards, facilitating better integration of various green financial products and reducing management costs for banks [3]. Expansion of Green Finance Scope - The addition of green trade and green consumption categories broadens the support range of green finance, creating new growth points by linking production, trade, and consumption [4][5]. - Green trade encompasses efficient energy-saving equipment and green certified products, while green consumption includes electric vehicles and energy-efficient buildings, promoting a virtuous cycle of "consumption supporting production" [4][5]. Market Impact and Growth Potential - The directory is expected to enhance the liquidity of green financial markets and improve asset management efficiency, as it allows banks and financial institutions to better identify and manage green projects [6][7]. - As of the first quarter of 2025, green bonds have accumulated to 4.3 trillion yuan, with green loans reaching a balance of 42.39 trillion yuan, reflecting a 14.4% increase since the beginning of the year [6][7].