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【Green Finance】ICBC Wins the First Place in the 2020 Evaluation of Green Banks

The China Banking Association recently announced the evaluation results of green banks in 2020. Among the 21 banks participating in the evaluation, ICBC obtained the highest score and won the honorary title of “Advanced Unit in the Evaluation of Green Banks”.

ICBC has always been attaching great importance to green finance related work and has promoted the development of green finance from the perspectives of development planning, policies and regulations, management process, business innovation, self-conduct, etc. In strengthening the top-level design and system development for green finance, ICBC has held the Green Finance Committee meeting periodically and formulated the development planning for green finance. In pushing for carbon peak and carbon neutrality in a holistic and orderly manner, ICBC has developed the work plan for carbon peak and carbon neutrality and actively promoted the implementation of carbon emission reduction supporting tools. In conducting innovation in green finance products and services, ICBC has successfully issued the first global multi-currency “carbon neutrality” themed overseas green bonds, as well as the first RMB10 billion green finance bonds domestically. In improving environmental risk management, ICBC has fully implemented classified management of green investment and financing projects, embedded environmental risk factors into investment and financing policies and the whole business process, originated the intelligent environmental risk management system in the industry, and conducted the climate risk stress test.

Next, regarding the weak areas found in the evaluation, ICBC will put forward remediation measures based on regulators’ opinions, further refine green finance related policies and management measures, improve self-conduct, and keep pushing for the building of a green bank.