IB Receives 2008 Best Green Bank Award

The Industrial Bank has won the 2008 Best Green Bank Award, a special accolade of the 2008 China Best Bank Awards. The award was presented to the Industrial Bank by the Economic Observer newspaper in recognition of the Industrial Bank's initiatives in green finance, an area where the Industrial Bank has outshone all other Chinese and foreign banks based in China.

The China Best Green Bank Award is sponsored by the Economic Observer newspaper in collaboration with nine well-known non-governmental organizations (NGOs) dedicated to environmental protection. Candidates for the Award are independently evaluated by the NGOs, making the Award highly prestigious and influential. The Industrial Bank received the Green Bank Innovation Award, China's first special award for green banking and finance, in last year's China's Best Bank Awards. The presentation of the 2008 Best Green Bank Award to the Industrial Bank is a recognition of its initiative in introducing advanced models to strengthen its management of environmental and social risks and its leading status and exemplary role among domestic commercial banks in promoting scientific and sustainable development through green finance. In October 2008, the Industrial Bank officially endorsed the Equator Principles, becoming China's first and only “Equator Bank”. To demonstrate its exemplary role in this area, the Industrial Bank has recently opened a column on sustainable finance on its official website at www.cib.com.cn. The column is aimed at sharing the Industrial Bank's experiences and achievements in energy conservation, emission reduction, green credit, and fulfillment of social responsibilities, promoting sustainable finance concepts, and advancing China's sustainable finance industry.