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ICBC Hosts the International Symposium on Environmental Risk Analysis

On July 17th, under the guidance of the Green Finance Committee of China Society for Finance and Banking, the International Symposium on Environmental Risk Analysis was successfully held in Beijing by ICBC. More than 20 experts and scholars across the world including the People’s Bank of China, China Banking Regulatory Commission, Ministry of Environmental Protection, Insurance Institute of China, Bank of England, Credit Suisse, BNP Paribas, University of Zurich, Bloomberg, MSCI, Standard & Poor’s, and the Energy Foundation shared the latest research findings to explore the latest tools and future developments in environmental risk analysis. More than 100 experts and representatives in the field of environmental risk analysis from domestic and foreign government departments, financial institutions, and third-party agencies attended this conference, with the Energy Foundation (China), B20 China Business Council and China Urban Financial Society providing support for the conference.

Environment protection and green development has currently become a global issue, with environmental risks attracting more attention from financial institutions. Quantitative analysis on environmental risks could provide an important basis for financial regulators and commercial banks to develop green financial policies, and implement green credit policy. On August 31, 2016, the People’s Bank of China and other six ministries issued the Guidance on Building a Green Financial System, escalating Green Finance to a national strategy. In 2016, the People’s Bank of China and the Bank of England jointly established the G20 Green Finance Research Group, and as a member of the group, ICBC submitted an Environmental Risk Stress Test Report, which has led the process of global environmental risks quantification. In 2017, on the G20 Hamburg Summit, the G20 green finance research group continued to regard the quantification of environmental risks as one of the core issues, and listed it as an achievement of green finance into the G20 Hamburg Action Plan.

As the first large Chinese commercial bank to join the Energy Efficiency Financial Institutions Group (EEFIG), ICBC has seen implementing green-credit policy and building the green bank as a long-term development strategy. It has set up a long-term mechanism for green development, with achievements in areas such as real economy transformation via green-credit service, green industry support as well as prospective research. By the end of 2016, the loan balance that ICBC invested in green project reached RMB 978.561 billion, which accounted for 14.2% of the company’s loans at the same period, and increased by 7% compared to 2015,or 6.8 percentage points higher than the growth rate of the company’s loan balance at the same period. ICBC’s preceding researches on green finance such as Stress Test of Environmental Risks’ Influences on the Credit Risks of Commercial Banks, are at a pioneering position among the global commercial banks. In addition, as the co-chair of the 2016 B20 (G20 Business Summit) financial growth taskforce, the issue of green finance raised by ICBC on behalf of China’s business community, was incorporated into the G20 issues for the first time.

On this symposium, ICBC also issued its latest research results of the ESG Green Rating and Green Index Research Report and Stress Test Report on Environmental Policies’ Influences on the Credit Risks in Steel Industry of Commercial Banks, suggesting that ICBC has formed a series of hit think-tank products in the field of environmental risk quantification, and is at a leading position in the world.