China Minsheng Bank Actively Promotes Business Development of Green Finance

#Green Finance#

China Minsheng Bank actively implements the Green Finance Guidelines for Banking and Insurance Sectors (the “Guidelines”) issued by China Banking and Insurance Regulatory Commission, clarifies duty division for green finance management in accordance with the Guidelines and makes arrangements for information integration, achievement publicity and coordinated promotion of green finance, so as to ensure the compliance of its green finance management with regulatory regulations.

On 17 June, the Development Planning Department of the Head Office, acting as the secretariat of the Green Finance Committee, organized the member departments to discuss the implementation plans for the Guidelines. Middle-level managers and business backbones from 20 departments of the Head Office exchanged views on the progress of implementing the Five-Year Plan for Green Finance of China Minsheng Bank and proposed plans and suggestions for implementing the Guidelines.

According to the participants, the Guidelines proposed for the first time the full-process and full-chain ESG supervision, and clarified responsibilities for green finance governance at various organizational levels. It required the banking and insurance sectors to promote green finance from a strategic standpoint, which facilitated the operation and implementation of relevant works. It also provided guidance for China Minsheng Bank on developing green finance, actively serving various economic activities with both environmental and social benefits, better helping pollution prevention and control, and promoting carbon peaking and carbon neutrality in an orderly manner.

All participants agreed to further study the regulations in the Guidelines, combine the efforts in implementing the Guidelines and the Five-Year Plan for Green Finance, establish and continuously improve relevant internal management rules and processes within one year, and fully, accurately and thoroughly implement the new development philosophy, so as to improve the Bank’s ESG performance and promote the all-around green transformation of economic and social development.

China Minsheng Bank has always been attaching great importance to the development of green finance business. In 2021, the Board of Directors reviewed and approved the Five-Year Plan for Green Finance of China Minsheng Bank (2021-2025), which clarified the development direction and business layout of green finance, coordinated the green finance business for the next five years, and planned to establish a green finance committee headed by President of the Bank to guide and supervise the green finance work of the whole Bank. Looking forward, China Minsheng Bank will shoulder its political responsibility and historical mission of providing financial support for green and low-carbon development, strive to build a green and low-carbon bank with leading green financial products and services, strong environmental risk management capabilities and sound environmental and social performance, so as to contribute to the all-around green transformation of economic and social development and the harmonization between the economic and social development and the ecological and environmental protection.