Jiangsu, a big player in the economic arena in China, received a great boost for its development of green economy. On November 6, 2013, the “Beautiful Jiangsu – Green Finance Promotion” of the “Beautiful China Tour of Industrial Bank (IB) was held at the 2 nd China (Nanjing) International Environmental Protection Industry Expo and Seminar on New Technologies of Environmental Protection Industry. IB Nanjing Branch entered into the strategic cooperation agreement with the Environmental Protection Department of Jiangsu Province, Nanjing Metro Group and Nanjing Chemical Industry Park. Under such agreements, IB Nanjing Branch will provide special green financing no less than RMB 50 billion to the province in the coming three years.
According to the strategic cooperation agreement executed with the Environmental Protection Department of Jiangsu Province, IB will, in the coming three years, provide the province with special funds of no less than RMB 50 billion, focusing on support for the construction of key environmental protection works across the province, such as desulfurization and denitration, control of drainage area, and comprehensive control of urban riveryway. And it will also give priority to arrange the loan scale for key green projects meeting the given requirements and give preferential loan terms. As a part of cooperation, IB will, relying on its rich experience in providing financial services in the area of pollution control and emission reduction, also provide trade consulting and brokerage services as well as support financial products and services for the trading of emission rights in the province. Moreover, according to the progress of Jiangsu in the emission right trading, it will carry out emission right pledge-based financing for key industries and key projects, so as to facilitate the system for paid use of emission rights to be implemented across the province. In order to have closer cooperation, both parties will also establish the joint conference system and the working mechanism for day-to-day communication.
As indicated by the person-in-charge of IB Nanjing Branch, the construction of ecological civilization in Jiangsu now stays in the ascending channel of development and remains at a critical period for its overall construction. There are a large number of projects of high quality in the areas including control of atmospheric pollution and integrated utilization of water resources, which require the support of a great amount of funds and contains great opportunities for the development of the finance industry. The cooperation agreement signed by and between IB Nanjing Branch and the Environmental Protection Department of Jiangsu Province is another chance for the green credit of the bank to support local energy conservation, environmental protection, and economic transformation, and it will further bring into play the active role of green credit during the construction of ecological civilization.
Over years, IB Nanjing Branch has, taking root in the province, actively got involved in the area of financial services for the province's construction of ecological civilization, and provided financing support for key works of the province for environmental control for many times. By the end of this September, IB Nanjing Branch has extended a total of funds exceeding RMB 24.5 billion for the environmental protection industry across Jiangsu Province. Meanwhile, the branch has kept making innovation in the field of green finance. In recent years, focusing on front-line areas including energy performance contracting (EPC), carbon emission right trading, and emission right trading, it has released products and services tailored to the needs of different customers and built a green financial service system matching the industry of energy conservation and environmental protection, lending vigorous support for the building of “Beautiful Jiangsu”.