Taking the judges' votes for this year's Environmental fund of the year award for the APAC category is the BNP Paribas Emerging Markets Environmental Solutions fund, overseen by veteran fund managers Edward Lees and Ulrik Fugmann, and investment analyst Jason Leung.

Since its launch in 2022, the $42.9 million fund invests more than 80% of its portfolio in developing Asia, targeting companies deriving more than 20% of their revenues, capital expenditure (CAPEX), or operating expenditure (OPEX) from recognised sustainability frameworks, such as the EU Taxonomy or UN Sustainable Development Goals (SDGs). 

The fund is particularly exposed to themes of power production, energy efficiency, and energy security, including how those relate to AI and data centres. 

According to BNP Paribas, 59% of the fund is also aligned with the EU Taxonomy, which it says demonstrates a high allocation to "genuinely sustainable activities, translating into measurable real-world impact". The fund is active in IPOs and other primary transactions.

Last year, it delivered strong performance to investors with a net total return of 29%, in US dollars