China Minsheng Bank Establishes Carbon Peak and Carbon Neutrality Office

On September 25, China Minsheng Bank established the Carbon Peak and Carbon Neutrality Office, in order to implement the major strategic decisions of the CPC Central Committee and the State Council on carbon peak and carbon neutrality, support green, low-carbon and circular economy, strengthen ESG risk management, implement the new development philosophy in a complete, accurate and all-round manner, and further strengthen the organizational leadership and the overall coordination of the works in relation to carbon peak and carbon neutrality. The Office will work in integration with the Green Finance Committee of the Bank.

The Carbon Peak and Carbon Neutrality Office has set up an organizational structure with President as the director, followed by deputy directors, permanent members and non-permanent members. It is responsible for coordinating the implementation of the requirements of carbon emission and carbon intensity policies throughout the Bank within the framework of the Bank's green finance development plan in accordance with the decisions of the Board of Directors. The Office will establish new models before abolishing the old ones, make overall planning, take differentiated approaches and adopt classified policies to ensure the achievement of relevant strategic measures and goals.

In recent years, China Minsheng Bank has implemented green concept, coordinated and promoted the development of green finance and the layout of relevant investment and financing. The Bank has clarified the direction and path, coordination mechanisms and supporting guarantees of the development of green finance business in terms of environment analysis, vision and objectives, strategies and measures, risk management, low-carbon operation and systems and mechanisms of green finance development. It continuously improves the quality and efficiency of green financial services, in a bid to constantly inject financial strength into the green development and low-carbon transformation of the whole society.