Recently, at the 5th Chengfang Fintech Forum in Beijing, hosted by the Beijing Municipal Government and the People’s Bank of China, Industrial Bank(IB)’s implementation of green finance standards and technology development case studies were selected for the conference proceedings and released on-site.
As a pioneer in green finance in China, IB has been deeply involved in green finance for 17 years, actively participating in the formulation of various green finance standards domestically and internationally. It is a member of the People’s Bank of China Green Finance Standard Working Group. The bank has contributed to the development of green finance-related standards, covering environmental equity financing tools, environmental information disclosure by financial institutions, environmental and social risk management, enterprise carbon accounts, and satellite monitoring carbon sink applications. These standards have been implemented at various levels, including international, national, industry, group, and enterprise standards.
In addition to its core operations, IB actively contributes to the development of green finance standards in China. The bank has been involved in formulating over twenty key policy standards, including the Green Industry Guidance Catalog, Green Bond Supported Projects Catalog, and regulations on green finance supervision, statistics, and assessment. These contributions have significantly advanced China’s green finance standards.
To better implement green finance standards and reduce the costs of identifying green finance operations and risk management, IB has been at the forefront of digitalizing green finance. In 2018, IB launched China’s first bank-developed professional green finance support system, “Turning Green into Gold,” which received the second prize in the People’s Bank of China’s “Banking Technology Development Award.” In 2023, aligning with the national “Dual Carbon” strategy, IB introduced the “Dual Carbon Management Platform,” encompassing corporate carbon accounts, personal carbon accounts, and group operation carbon management. This platform supports both the bank and its client enterprises in their green and low-carbon transformation.