Key Takeaways
- • Taiwan's Bureau of Labor Funds (BLF) awarded five asset managers a combined $3 billion in passive mandates for overseas investment in global climate transition infrastructure, with each manager receiving $600 million over five years.
- • The selected managers are Amundi, BNP Paribas Asset Management, Geode Capital Management, Northern Trust Asset Management Australia, and State Street Global Advisors Singapore.
- • Funding is drawn from three Taiwanese pools per manager: $400 million from the Labor Pension Fund, $100 million from the Labor Insurance Fund, and $100 million from the National Pension Insurance Fund.
- • The mandate benchmarks against the FTSE Global Core Infrastructure ex China TPI Climate Transition Index, which the BLF says targets companies with forward-looking climate transition management capabilities.
Summary
Taiwan's Bureau of Labor Funds (BLF) has selected a group of global asset managers to deliver USD$3 billion in passive mandates for overseas investment in global climate transition infrastructure, according to a report published by ESG Today on July 20, 2026. The five selected managers are Amundi, BNP Paribas Asset Management, Geode Capital Management, Northern Trust Asset Management Australia, and State Street Global Advisors Singapore. Each will manage a $600 million, five-year mandate.
The capital is split across three of Taiwan's public pension and insurance pools. Each manager receives $400 million from the Labor Pension Fund, $100 million from the Labor Insurance Fund, and $100 million from the National Pension Insurance Fund.
According to the BLF, the passive structure is intended to give Taiwan exposure to the global infrastructure market at relatively lower cost, while supporting companies advancing structural transition and capturing investment growth. The BLF cited the rapid growth of artificial intelligence, cloud computing and the digital economy as drivers of demand for related infrastructure, noting that such assets often feature stable cash flow, rigid demand and resilience to economic cycles. It also pointed to the global energy transition, with electricity and related infrastructure gradually moving toward low-carbon development.
The mandate will track the FTSE Global Core Infrastructure ex China TPI Climate Transition Index, which the BLF says targets companies with forward-looking climate transition management capabilities. The award followed a public solicitation for bids that the BLF launched earlier in 2026.
The capital is split across three of Taiwan's public pension and insurance pools. Each manager receives $400 million from the Labor Pension Fund, $100 million from the Labor Insurance Fund, and $100 million from the National Pension Insurance Fund.
According to the BLF, the passive structure is intended to give Taiwan exposure to the global infrastructure market at relatively lower cost, while supporting companies advancing structural transition and capturing investment growth. The BLF cited the rapid growth of artificial intelligence, cloud computing and the digital economy as drivers of demand for related infrastructure, noting that such assets often feature stable cash flow, rigid demand and resilience to economic cycles. It also pointed to the global energy transition, with electricity and related infrastructure gradually moving toward low-carbon development.
The mandate will track the FTSE Global Core Infrastructure ex China TPI Climate Transition Index, which the BLF says targets companies with forward-looking climate transition management capabilities. The award followed a public solicitation for bids that the BLF launched earlier in 2026.
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