Home >>About IB >>About Us >>What's New >>2017
Green Finance “Ignites” Belt and Road, Industrial Bank Cooperates with Expo 2017 Astana
The eye-catching Expo 2017 is now in full swing in Astana, the capital city of Kazakhstan. As the only financial service provider of the China Pavilion and the pioneer of green finance in China, Industrial Bank (IB) premiered the exhibition. With the outstanding practice and outcome of green finance for the past 11 years and a future plan of green development for countries along the “Belt and Road” initiative, IB became a highlight of the China Pavilion and aroused international attentions.
The theme of China Pavilion of the Expo is “Future Energy, Green Silk Road”, which is highly compatible with the green development and sustainable development concept of IB. As the first initiator of “Belt and Road”, Kazakhstan, including most countries along the route of “Belt and Road” initiative, are developing countries, in which green finance is indispensable for achieving economic growth, protecting ecological balance and boosting sustainable development.
IB has led the industry in supporting and constructing the “Belt and Road” initiative by settling the first equator principle project in Fujian, the core area of the Marine Silk Road, as early as in 2009. As the collective green finance product system is being improved, now IB can provide manifold financing services, including green loan, green bond, green leasing, green trust and green fund, for clients along the route of the “Belt and Road” initiative. Take the example of green fund, by now IB has participated in 40 green funds and offered a large amount of long-term and low-cost funds for an array of green projects.
As the “Belt and Road” strategy proceeds, it will be more common for Chinese enterprises to go global and the overseas investment scale will bump up. The environmental and social risks of enterprises will also increase. In that case, it is urgent to put green finance into the “Belt and Road” investment. As the China's first equator bank, IB strictly applies the equator principles to review standards, recognize, screen and support more green projects when participating in and supporting the overseas investment and trading projects of China, so as to reduce the environmental and social risks of project implementation. It is more important to lead the financing and investment funds from the “Belt and Road” initiative to more environmentally-friendly and green industries with universal tools and standards such as the equator principles. By the end of May, 2017, IB has accumulatively provided green financing fund of RMB 1.2371 trillion for more than 12 thousand energy saving enterprises or projects, formed the sustainable business mode featuring “showing obligations in profits”, and accumulated solid expertise and extensive practical experience after many years of practice.
Since most economies along the route of “Belt and Road” initiative are in the same development stage as we are, the experience of China in green finance is more referable. Not willing be the “Lone Ranger” in green finance, IB has always been active in participating, promoting and organizing international exchange and cooperation in green finance. IB fully participated in the revision of the third edition of the Equator Principles, making the voice of China's banking industry heard in global green finance field. Meanwhile, IB is also actively exchanging and sharing the experience of developing green finance with Vietnam, Mongolia, Indonesia and other major countries along the route of “Belt and Road” initiative, driving the popularity and deepening of the green finance ideology.
“Belt and Road” is not only a way of win-win cooperation and responsibility sharing, but also a way of green development. By taking the opportunity of “Belt and Road”, IB will extend the global exchange and cooperation along the route of “Belt and Road” initiative in terms of green finance; boost the green finance instruments to be widely spread and applied in the districts along the “Belt and Road” initiative; set an example for financial institutions in the districts along the line to focus on clean energy, ecological restoration, environmental harnessing, ecological agriculture, green building, green traffic and other green projects. Meanwhile, IB will establish a set of standards for green finance that are suitable for the “Belt and Road” initiative and comply with international norms by referring to the Equator Principles, and export relevant standards, technologies and experience by virtue of the Interbank Platform or other means.
The Expo 2017 Astana with the theme of “Future Energy” was opened on June 10 and will be closed on September 10. This is the first time that the Expo is held in a Middle Asian country and the representatives of more than 100 countries and international organizations attended the expo. With a coverage of 1000 square meters, the China Pavilion is one of the largest national pavilions and completely demonstrates the practice of China in the development, utilization and protection of new energy as well as the thinking for the future of new energy while profoundly delivering the green development ideology proposed by the “Belt and Road” initiative.TOP