Sustainable Development Goals
The Industrial Bank (IB) has deeply understood the social and environmental responsibilities of commercial banks, who promotes the ESG to the height of IB Group’s strategy and planning, formulates corresponding strategic development goals, and leads high-quality development with the ESG management. On the basis of green financial products, the Bank strengthened the S (society) and G (corporate governance) exploration and practice, and integrated the three value factors of ESG into its various products and services so as to form a three-dimensional and multi-dimensional ESG product system.
In 2021, IB issued the Action Plan of Industrial Bank for Building a Green Bank (2021-2022), which serves as its “road map and construction drawing” for developing a green bank business card, and specifies the main goals of green bank construction and serving the key task of carbon peaking and carbon neutrality in the next two years .
By the end of 2025, it is expected to be realized
RMB 2 trillion ▏IB Group’s green financial financing balance
55,000 enterprises ▏Number of corporate customers of green finance
Scientifically Planning, Formulating and Implementing the “Carbon Neutrality” Goal
In 2022, IB conducted such special work as carbon-related checks and verifications. Based on the comprehensive understanding of the current status of its carbon emissions, IB has formulated the carbon neutrality goals and phased schedules, which adhered to the principle of “prioritizing direct carbon reduction and following carbon elimination and offset”, and actively grasped the trend of green and low-carbon transformation and strived to achieve the “carbon neutrality” goal.
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“Carbon neutrality” goal |
Measures |
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A 20% reduction in its own carbon intensity to be achieved in 2025 compared with the data in 2020 |
By implementing such energy conservation and emission reduction measures as energy conservation and carbon reduction in the building operation and the Data Center as well as the green transportation, IB will achieve a 20% reduction in carbon intensity from its own operation in 2025 compared with the data in 2020. |
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Carbon neutrality to be achieved in IB’s operation activities before 2030 (including carbon emissions in Scope 1 and Scope 2) |
By further promoting the work related to energy conservation and emission reduction, IB will basically realize comprehensive electrification of energy equipment and facilities, gradual increase on the proportion of renewable energy, intelligent operation of buildings and digitalization of its offices, and achieve carbon neutrality of the remaining carbon emissions through the participation in high-quality ecological and carbon sink projects, purchase of green power and green electricity certificates. |
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Carbon neutrality of the upstream and downstream activities across IB to be achieved before 2035 (including carbon emissions in Scope 1, Scope 2 and Scope 3*) |
IB will take capacity-building measures such as strongly strengthening the carbon-related management, carbon inclusion, publicities related to carbon neutrality and carbon reduction, and vigorously developing green financial services to promote carbon reduction in external industries, so as to realize the carbon neutrality goal set out in Scope 3 in 2035. |
*Note: The Scope 3 here includes such categories as carbon emissions in business travel, employee commuting, waste management, transportation and distribution (across the upstream and downstream).
Note: Overall Roadmap of IB’s Overall Plan for Carbon Neutrality
IB has been consistently improving its carbon emission management system, and completed its carbon-related checks and verifications in the past five years, covering a total of more than 2,000 institutions at all levels, including the Head Office. Such checks and verifications have sorted out its current status of carbon emission management and its potential for emission reduction, and provided the decision-making support in setting the green operation goals. Moreover, the relevant reports on carbon-related checks and verifications have been verified and certified by third-party organizations. In the meanwhile, IB has launched the construction of “IB Carbon Peaking and Carbon Neutrality Management Platform” and “Smart Park Platform” to promote the systematic and intelligent management of its own operating data on carbon emissions and realize real-time collection and monitoring of its data on energy consumption and carbon emission.
Based on the carbon footprint of investment and financing activities, IB closely followed up the research on related topics, and its Branches explored the methods of measuring the carbon footprint of loans and carried out such a measurement in accordance with the Guideline for Carbon Accounting Technology of the Investment and Financing Business in Financial Institutions (for Trial Implementation) issued by the People’s Bank of China (PBOC) and with reference to The Global GHG Accounting and Reporting Standard for the Financial Industry released by the Partnership for Carbon Accounting Financials (PCAF) in 2020 and the suggestions proposed by the Task Force on Climate-related Financial Disclosure (TCFD).