Recently, China's Industrial Bank (CIB) issued a RMB 200 million loan to an aluminum company in Binzhou, Shandong, to support its green transition operations. This marks the bank's first transition finance loan in the aluminum sector, featuring third-party evaluation of the company's transition roadmap.
This project qualifies under the Transition Finance Supported Projects Catalog. By linking preferential interest rates to the energy performance of the company's primary products such as alumina and electrolytic aluminum, it not only meets the enterprise's funding needs but also reduces financing costs, incentivizing independent carbon reduction and pollutant emission mitigation.
"This transaction employs an innovative "transition assessment + interest rate linkage" model, delivering a replicable and scalable financial solution for the green and low-carbon transformation of China's aluminum industry," stated a representative from CIB's Green Finance Department.
In recent years, China has persistently advanced green and low-carbon transition initiatives. As a domestic green finance pioneer, CIB has established a policy framework to support transition finance development, steadily increasing financial backing for low-carbon transitions in high-emission sectors like steel, chemicals, non-ferrous metals, and building materials. By the end of 2024, CIB's green financing allocated to transition fields reached RMB 192.7 billion.