Date: April 11, 2011 Source: Financial News
In recent years, “Corporate Social Responsibility” has become a hot topic. It's regarded as the highest possible stage of an enterprise in fulfilling its social responsibilities in implement innovations in products, services, technologies and processes, etc. in the value chain with a view to reconciling its own commercial interests with social interests, and to seek business opportunities and promote its own sustainable growth as IB is dedicated to the sustainable development of the environment and the society. Based on this understanding, for years IB has been exploring sustainable business models and social responsibility practice models from which both the bank and the society can benefit. As one of the major businesses in the process of a strategic transformation, IB is dedicated to differentiated competition, precise marketing and specialized operation in its credit card business. While striving to improve its profit-making ability in the credit card business, IB has followed the principle of combining the fulfillment of social responsibilities with business development, and has implemented the principle in each and every link of its operations and management.
By initiating the energy-saving and emission reduction loan projects in China and becoming the first domestic bank to adopt “the Equator Principles”, IB has gradually identified itself as the pioneer and initiator of green finance over recent years. The success has made IB determined to explore green finance in depth, introduce the green development concept to corporate banking and personal banking, exploit corporate social responsibility and influence, promote green consumption and set the trend for low-carbon life. On January 28, 2010, 40 days after the Copenhagen Climate Conference was concluded, IB joined hands with the China Beijing Environment Exchange to issue the first low-carbon-themed credit card in China - the China Low-Carbon Credit Card. In June 2010, in association with the Shanghai Environment and Energy Exchange, IB issued the China Low-Carbon Credit Card and introduced the concept of Low-Carbon Consumption to the “Wise Platinum” credit card for premier clients. This series of products is positively recognized by the public as it corresponds with the mainstream value of developing a low-carbon economy and attracts the public to get involved in green consumption with a view to substantially reducing the emissions of green house gases and bring about environmental and social benefits.
By the end of February 2011, IB had issued more than 130,000 low-carbon credit cards, purchased nearly 20,000 tons of carbon emission reductions and supported the construction of carbon emission reduction projects, including the Hunan Dongping 72MW Hydroelectricity and Carbon Emission Reduction Project and Guangdong Xiaping Waste Landfill Gas Collection & Utilization & Carbon Emission Reduction Project. The aforesaid efforts have neutralized the carbon emissions produced by 143,000 people traveling by air over 1,000 kilometers and effectively realized the concepts of green, environment-friendly and low carbon - upheld by the credit card.
After the disastrous May 12th earthquake in Sichuan in 2008, IB immediately came up with the first patriotic-themed credit card in China - Chinese Heart Credit Card - and together launched the Chinese Heart public welfare program. If a customer successfully applied for a Chinese Heart credit card before December 31st 2010, IB would donate RMB 1 for public welfare. If a customer uses the Chinese Heart credit card for consumption, cash installment payment or cash advance transaction, IB will donate RMB 0,01 for public welfare. All donations are channeled by IB via the China Foundation for Poverty Alleviation to various public welfare programs, including poverty alleviation, disaster relief and education, etc. So far, IB has issued more than 250,000 Chinese Heart credit cards, donating RMB 280,000 in total to the China Foundation for Poverty Alleviation.
IB boasts a tremendous credit card customer base of 5 million. Supported by such a large customer group, IB has always adhered to the business development model of integrating charity with profit-making, and endeavored to realize the integration of corporate development with the fulfillment of social responsibilities, the unity between social values and corporate values and sustainable development by providing high-quality products and services to meet social demand.