China's Industrial Bank (CIB) has been named one of the Top 30 ESG Listed Companies in China's Financial Industry for the second consecutive year, as announced by China Media Group in its Financial Industry ESG Action Report (2024). This recognition underscores CIB's outstanding performance in environmental, social and governance (ESG) practices.
Since 2023, China Media Group has collaborated with leading organizations, including the State-owned Assets Supervision and Administration Commission of the State Council, the All-China Federation of Industry and Commerce, the State-owned Economy Research Think Tank of the Chinese Academy of Social Sciences, and the China Enterprise Reform and Development Society, to launch the China ESG (Corporate Social Responsibility) Release series. The Financial Industry ESG Action Report (2024) is a thematic report that identifies the Top 30 ESG Listed Companies in China's Financial Industry based on an ESG evaluation system that aligns with international standards while being tailored to China's unique national context. The report highlights the achievements of leading financial institutions in key areas, including green finance, the Belt and Road Initiative, inclusive finance, rural revitalization, pension finance, and philanthropy, all of which are central to China's ESG-focused financial practices.
As an ESG pioneer within China's banking sector, CIB has been spearheading sustainability in corporate governance and enhancing the effectiveness of its ESG governance. By integrating ESG principles into its strategic planning, key decision-making frameworks, and day-to-day operations, CIB has established an industry-leading ESG decision-making and management framework, continuously enhancing its ESG management standards and forging a path that combines China's unique characteristics with global best practices. It is the only Chinese bank to have maintained the highest ESG rating for five consecutive years.
Committed to supporting China's carbon peaking and carbon neutrality targets, CIB has positioned itself as a leader in green banking, delivering significant economic, environmental, and social benefits while contributing to the Beautiful China initiative. CIB has focused on reducing carbon emissions by financing green businesses and aligning its support for the green transition of traditional industries with the growth of emerging green sectors. CIB has also strengthened its carbon financial service system by incorporating an innovative ESG risk assessment framework into its credit approval processes for companies in relevant industries. As of June 30, 2024, CIB's green finance balance reached RMB 2.13 trillion, with green loans totaling RMB 915.1 billion, an increase of 13.11% from the end of 2023. These loans support projects that contribute to the annual savings of 10.16 million tons of standard coal, 24.09 million tons of CO2, and 10.47 million tons of water.
In line with its "Finance for the People" service philosophy, CIB has continuously worked to improve the accessibility, reach, and precision of financial services. To better support small and micro enterprises (SMEs), CIB has introduced incentive measures in terms of evaluation metrics, loan pricing, and due diligence. Meanwhile, CIB operates the "CIB Inclusive" open service platform, which offers a comprehensive range of "finance + non-finance" services tailored to SMEs. As of June 30, 2024, the balance of inclusive loans to SMEs was RMB 548.5 billion, an increase of 9.49% from the end of 2023. This has effectively eased the financing challenges and reduced costs for SMEs. To better support rural revitalization, CIB has developed a new model of financial services in rural areas, where financial advisors work closely with local residents and extend the reach of services through technologies such as the Internet of Things and satellite remote sensing. As of June 30, 2024, the balance of agricultural loans was RMB 727.1 billion, an increase of 9.38% from the end of 2023. To better promote common prosperity, CIB has deepened its partnerships with small and medium-sized financial institutions through its "bank-to-bank platform". To date, over 500 small and medium-sized banks have entered into wealth management distribution agreements with CIB, thereby increasing the availability of modern financial services and products in less-developed regions.
CIB has been integrating people's well-being into its financial services for more than a decade through a long-term investment in pension finance. It has built a "Joyful Ages" pension finance ecosystem, providing exclusive services, compensation planning, value-added benefits and activity platforms for seniors. Currently, CIB serves more than 26 million senior customers. CIB has also established a network of "Joyful Ages" senior service model outlets across China, with major sub-branches in urban core areas as service centers and community sub-branches as service stations, cultivating a culture of caring for and respecting the elderly in daily services and providing more tailored the services for the elderly.
CIB's commitment to social responsibility extends beyond financial services. With the support of the Fujian Provincial Department of Civil Affairs and other relevant departments, CIB has established a charitable foundation that has donated more than RMB 650 million over the past ten years. In addition, CIB has established a "CIB Public Welfare" volunteer service program with 13,000 registered volunteers on its bank-wide volunteer service platform and over 2,000 "CIB Public Welfare People's Stations". These stations serve as community hubs for charity sales, free medical services, and free tea, providing invaluable support to local communities.