Hua Bing, GM of the Industrial Bank Legal and Compliance Department Attends the Annual Meeting of the Equator Principles and IFC Annual Learning Meeting in the U.S.

In early June, 2010, Hua Bing, the general manager of the Industrial Bank Legal and Compliance Department, attended the Annual Meeting of the Equator Principles organized by the Equator Principles Secretarial Bureau and the IFC Annual Learning Meeting in Washington D.C.

The theme of this year’s Annual Meeting of the Equator Principles and IFC Annual Learning Meeting was the review and discussion of the IFC’s Sustainability Performance Standards on Society and Environment (hereinafter referred to as “Performance Standards”). Equator institution representatives from five continents presented suggestions for the revision and improvement of the Performance Standards, and engaged in active discussions over the possible impacts that the modification of the Performance Standards will have on the Equator Banks. Hua Bing, the general manager of the Industrial Bank Legal and Compliance Department, offered suggestions on the modification of the Performance Standards based on the Industrial Bank's experiences in the implementation of the Equator Principles for over a year. These included properly addressing the issue of the application of the Equator Principles for syndicated loans and capital combination, consideration of the different national conditions in different nations by the Performance Standards, and increasing the outreach of the Equator Principles in emerging markets.

“Performance Standards” is a tool for the management of environmental and social risks and impacts provided by the IFC to its investment and financing clients. It also constitutes an important applicable standard for the Equator Principles. Currently, the Performance Standards applied by the Equator Banks was last revised in April 2006. With the increasing influence of the Equator Principles internationally, calls for the improvement of the “Performance Standards” are becoming increasingly strong. This meeting provided a platform on which the Equator Banks were able to exchange their views on the “Performance Standards” face to face and on the basis of their own experiences.

In addition, presided over by Sean Miller, the chairman of Equator Principles Financial Institutions, the “Equator Principles Working Groups” gave briefings on their recent work. At the meeting, guests from BBOP introduced the issue of biodiversity compensation encountered in the planning of the financial institutions that they assist.

Attending the annual meeting of the Equator Banks helps the Industrial Bank to fully absorb the experiences and results of other banks in the practice of the Equator Principles, boost its environmental and social risk management capacity and at the same time deepen the exchanges between the Industrial Bank and international banks.