Date: March 18 Source: Tianfu Morning Paper
Over the past six years, China has held the Beijing Olympics and Shanghai World Expo, etc. The country has been confronted with challenges but has also harvested glories. What remains unchanged is the heart that will never give up.
Sichuan was struck by the “5.12 magnitude Earthquake” six years ago, but over these six years Sichuan still managed to complete the energy conservation and emissions reduction tasks set by the “11th Five-year Plan” and blew the trumpet of the Chengdu-Chongqing Economic Region…. What remains unchanged are the bold and generous characteristics of the Sichuan People.
In the past six years, your daughter has been born, and now she has reached the age to go to school. This year is also the sixth year after the Kyoto Protocol was implemented.
What other things might have been done over the past six years? What can we focus on for six years? Over the past six years, Industrial Bank (IB) Chengdu Branch and the Sichuan people have walked together, witnessing the courage and vitality of the Sichuan people whilst demonstrating to the Sichuan people its accountability and perseverance in constructing green finance.
Energy conservation and emissions reduction start in the “11th Five-year Plan” and shall accelerate in the “12th Five-year Plan”
20% - it is the target for energy conservation and emissions reduction specified in the Outline of the “11th Five-year Plan”, which requires the energy consumption per unit of GDP to drop by 20% and the total emissions of major pollutants to decrease by 10%. Now five years have passed, and both targets were achieved.
As a branch of IB (the first “Equator bank” in China ), IB Chengdu Branch began to explore financial innovations to support energy conservation and emissions reduction as early as in 2005. Depending on the cooperation between the Head Office and the International Finance Corporation (IFC), it launched the energy-efficiency project financing in Sichuan for the first time. At the 2009 West China Expo, IB Chengdu Branch was the only participant from the commercial banking industry. At the Expo, it presented an image of the “green bank”, showcased businesses relating to “energy conservation & emissions reduction and the Equator Bank” expressing its determination to commit to energy conservation and emissions reduction.
During the “11th Five-year Plan” period, IB Chengdu Branch allocated a total amount of RMB 2.4 billion in energy conservation and emissions reduction loans in Sichuan. By September 30, 2010, the total amount of credit approved by IB reached RMB 2.88 billion.
17% - it is the target for the emission of carbon dioxide per unit of GPD stipulated in the Outline of the “12th Five-year Plan” in 2011. Compared with the target of the “11th Five-year Plan”, this target is “greener”. IB Chengdu Brach will strictly follow the spirit of the “12th Five-year Plan” and employ the functions of financial measures in energy conservation and emissions reduction to carry low carbon through to the end.
For the IB Chengdu Branch to develop green finance, shows both accountability and opportunity
What color will Sichuan be in the 21st century? If we say it is green, many people will surely agree. It has become a common view of the Sichuan People to accelerate the construction of a resource-conserving and environment-friendly society.
From its own standpoint and based in Chengdu , IB Chengdu Branch has brought a green storm to the Sichuan people across the whole province.
Let's cast our eyes back to January 18, 2010.
On this day, IB Chengdu Branch signed the Strategic Cooperation Framework Agreement for Energy Conservation and Emission Reduction Loans jointly with the Sichuan Provincial Commission of Economy and Information Technology. According to the Agreement, the bank will provide RMB 5 billion over the coming five years to support financing services for the construction of key energy conservation and emissions reduction projects carried out in key industries by key enterprises across the Sichuan Province .
The first company benefiting from the Agreement is Sichuan Neijiang Lishan Chemical Co., Ltd.. With the professional assistance of IB Chengdu Branch, the company signed a Purchase Agreement on Emissions Reduction with ARREON CARBON UK LTD. The client will receive the annual proceeds of about RMB 3.5 to 4.0 million from the carbon agency business. If it continues to abide by the Kyoto Protocol system, it can receive such proceeds for a total of 21 years. This is the first CDM carbon finance business in the Sichuan banking industry and it provides Lishan Chemical with a substantial “bonus” of green financing. Thereafter, in order to cooperate with the urban sewage treatment and post-disaster reconstruction in Chengdu , IB Chengdu Branch also provided a 9-year project loan of RMB 350 million to Chengdu Quanyu Water Utilities Investment Co., Ltd. It is expected that the project will reduce COD emission by 8,264 tons per year after reaching its full-capacity operation.
Under the influence of the green storm, a large number of enterprises, such as Ebian Jinguang Baxi Power Development Co., Ltd., Sichuan Wawushan Electricity Industry Co., Ltd. and Sichuan Bashu Electricity Development Co., Ltd., have been granted green credit by the IB Chengdu Branch in a comprehensive way. In order to support the sewage treatment of Shuangliu County , on November 1, 2010, IB Chengdu Branch signed a loan agreement with Shuangliu County Water Utilities Investment Co., Ltd.. IB will provide a credit line of RMB 2 billion in loans to the Energy Conservation and Emissions reduction Project for the Overall Control of the Water Environment in Shuangliu County , currently the total amount of the loan released so far has reached RMB 1.474 billion. When the whole project has been completed, Shuangliu County will convert 318,600m 3 of sewage into clean water each day, to be used in the city environment construction and irrigation. “As the leading green bank in China, IB has played a pioneering role in promulgating and promoting the concept of sustainable finance in the province”, commented Shao Rong, CFO of Shuangliu County Water Utilities Investment Co., Ltd., regarding IB Chengdu Branch's support of energy conservation and emissions reduction.
For individuals a lamp or a credit card may also help conserve energy and reduce emission.
Stepping into the Rennan Sub-branch of the IB Chengdu Branch, you will find that the entire hall is surrounded by a soft and even light. Citizens coming here to carry out business seem to be walk in a gentle, white garden. It has been introduced that this light is emitted by a group of LED lights, which can save 55%-60% of the energy in comparison with energy-saving lights, and 90%-95% in comparison with incandescent lights. Such lamps may save energy and reduce emission while a bringing comfortable light to people.
This is only one change made by the IB Chengdu Branch in carrying out the low carbon mission. What is more surprising is that, led by the Head Office, IB Chengdu Branch took lead in releasing the “low-carbon” credit card in Sichuan, opening the payment channel of purchasing low-carbon emissions reduction for individuals. The card provides a practical and feasible new method for individual customers to be “carbon neutral”.
Of the two low-carbon credit cards in the hands of a writer, one is dominantly blue, with groups of vigorous windmills running under a blue sky. Holding the card in their hand, the writer seems to sense a breeze touching the face; the other presents a white sky and green trees, which communicate the breath of life to people. These are the two versions of the credit cards in the series – “windmill version” and “green leaf version”. Whichever version a customer chooses, it will represent his or her recognition and support for environmental protection.
The credit card has won full recognition from all corners of society over the one year since its release, and a number of white collar and enterprise executives have shown great interest in it. In 2010, the card was, in succession, honored with a number of prizes, such as the “Top 10 Brands with the Greatest Industrial Influence” and “Credit Card with Outstanding Contributions”.
The relevant person-in-charge of the IB Chengdu Branch told the author: “It does not matter whether we win prizes or not. By releasing such credit card, we hope to call the public to sincerely support the low-carbon undertaking. With the increasing awareness of environmental protection among the people, “Low Carbon” will become a life style and a living concept. When you use the card, you are also lessening the load of the earth.