“By the end of 2020, Industrial Bank (IB) will try to double the cumulative amount and balance of its green finance business in Fujian Province, that is, the cumulative volume will be more than RMB 130 billion and the balance will exceed RMB 60 billion.” On June 9, Tao Yiping, the president of IB, declared seriously in Fujian Green Finance Development Thematic Conference that IB will give full play to its advantages in the field of green finance focusing on Fujian scientific spanning development action program, ecology province construction and other major strategies, so as to promote Fujian Province to become the innovative base of national green finance products and assist it to apply for the qualification of the pilot work of national green finance comprehensive reform & innovation.
On the same day, IB signed strategic cooperation agreements with Fujian Long King Environmental Protection Co., Ltd. and Fujian Long Ma Sanitation Equipment Co., Ltd. with the contract amount of RMB 10 billion and RMB 8 billion respectively. The agreements are designed to support their fund demands in the field of energy conservation & environment protection and environmental sanitation equipment manufacturing. According to the reporter, Long King Environmental Protection is a domestic leading enterprise and one of the few global enterprises in the environmental protection industry, which can provide integrated products of dust extraction, desulfurization & denitration and pneumatic transmission. Long Ma Environmental Sanitation is the first domestic listed company specializing in the sanitation industry and integrating the planning & design of urban and rural environmental health system, environmental sanitation equipment development, manufacturing and marketing, environmental sanitation operation and investment.
Fujian province is an important ecological barrier in the south of China, and one of China's first experimental zones of ecological civilization. In recent years, Fujian has conscientiously implemented the green development concept and actively built a green financial system, and has successively enacted the Action Plan of Fujian Banking Industry to Support the Construction of National Ecological Civilization Pilot Zone of Fujian (2017-2020) and Fujian Implementation Program of Green Financial System Construction, providing financial drive for the construction of civilization pilot zone and promoting the development of green finance in Fujian that leads the whole nation.
"Fujian is the birthplace and the holy place of IB's green finance." Tao Yiping said in his speech that IB, as the only national shareholding bank headquartered in Fujian, started the business from Fujian, expanded to the nation and now becomes the leader of green finance in China. As early as in 2005, IB set up a professional team of energy efficiency finance in Fuzhou to carry out energy efficiency finance. Rooted in Fujian and greening its native place for more than a decade, IB has been developing on the base of the demands of financial services in energy conservation and emissions reduction, environmental protection in Fujian province and utilizing diversified financing tools such as credit & loan, leasing and so on to offer financing services to an array of green finance projects in the province, including Xiamen Pumped Storage Power Station, Fujian Refining Ethylene Integration Project, Fuzhou Public Traffic System of Environmental Production Bus, the Garbage Incineration Power Generation Project in Beicuo Town of Pingtan. It plays an important role in the construction of "Fresh Fujian" and "Beautiful Fujian" initiatives.
By the end of May this year, IB has accumulatively released 2,024 green finance projects in Fujian Province with the total amount of RMB 67.3 billion and the balance of RMB 30.6 billion. The projects supported could save 45.2 million tons of standard coal each year and reduce 11.6 million tons of carbon dioxide, which is equivalent to the same amount saved by closing 27 100MW coal-fired power stations, or stopping driving 10,000 taxis for 56 years.
Not only does IB provide financing services for Fujian green development, but also provides intelligent services. In 2016, IB assisted in the drafting of the National General Plan for Pilot Zone (Fujian) of Green Finance Comprehensive Reform & Innovation at the invitation of Fujian Provincial Office of Finance. In the same year, it also supported the establishment of the trial site of carbon emissions permit trading in Fujian province, provided a package of financial services including transaction structure and system design, preliminary training, fund depository and management and clearing. At the end of 2016, after Fujian Carbon Emission Permit Exchange was officially launched, IB signed a strategic cooperation agreement with Haixia Equity Exchange Center, providing specialized financing services and technical support to players of carbon emission permit transaction and giving assistance to training for corporations in emission control, capacity building and account opening, etc by virtue of its technological and service advantages in carbon emission permits.
Developed from single energy efficiency financing to the current abundant and complete range of collectivize green product and service portfolio covering green financing, green leasing, green trust and green fund, IB takes the lead and makes successive progress in exploration and innovation, thus growing into the benchmark of China in green finance innovation.
“We will take Fujian province as the innovation base of IB green finance products and services, enhance the strength of support for carrying out innovative products in Fujian province and promote it to become the birthplace of innovation in national green finance products.” Tao Yiping said that next step is to give full play to the role of professional team and fully assist the province to apply for the qualification of experimental zone of national green finance comprehensive reform & innovation.