Seagate Global has had a privileged behind the scenes seat in Asia as senior financial advisor to China's central bank starting in the early 1990's.
China's implementation of a market based financial system helped China to greatly reduce poverty and grow their economy.
Now, capital markets are helping China to raise funds for projects that reduce pollution and other ESG related projects.
Seagate Global was selected by China in the 1990’s to assist in modernizing its central bank and financial system. The goal was to reduce poverty and spur economic prosperity. By focusing on developing and then improving the financial system, among other key moves, China accomplished the largest and fastest economic development in world history. As one of China’s key advisors, Seagate learned what worked for their meteoric development, and is spreading that knowledge to SE Asia and beyond.
Financial System Key to Poverty Alleviation
The first steps in poverty alleviation often result in environmental degradation. Once economic growth started to take off, Seagate started looking for ways to invest in environmental improvement. Seagate entered a JV with China Everbright to create Seabright Asset Management, Ltd., HK. SeaBright targeted clean energy companies, and produced over $400 million of green profits by taking companies such as GoldWind Technologies public in what was termed China’s most successful IPO.
Improving the Environment