BNP Paribas Asset Management (BNPP AM) announced that its wholly foreign-owned enterprise, BNP Paribas Overseas Investment Fund Management (Shanghai), has been granted a qualified domestic limited partner (QDLP) qualification. The company says it is going to be the first fund manager in the world with QDLP license to offer environmental, social and governance (ESG) investments to onshore clients.

The Shanghai-based QDLP programme allows global fund managers to raise funds from Chinese investors to purchase overseas traditional and alternative assets. The company said that the initiative to launch a ESG-related product corresponds to the increased attention of the mainland investors to sustainable investment, which is partly because of the increased validation of the approach of the government and industry organizations of China.

QDLP qualification programme gives the qualified Chinese investors an access to the global expertise and opportunity for them to be investment solutions providers. Those who search to diversify the funds across the range of numerous assets will be able to do that on Chinese market.

BNP Paribas AM has been giving the opportunity for its global clients to access the Chinese market as one of the biggest Qualified Foreign Institutional Investor managers since 2004. The company was granted one of the first RMB Qualified Foreign Institutional Investors licenses in France and Eurozone in September 2014. Since then, the firm has obtained the licences in Hong Kong and Korea. On the way to getting the QDPL license, BNP Paribas AM established its Wholly Foreign-Owned Enterprise (WFOE) in December 2014. The company is one of the first group of global asset management operating in the Shanghai Pilot Free Trade Zone.