The Legal and Compliance Department of Industrial Bank was Invited to Attend the “Seminar on Green Credit Policies”

From November 16 to 17, 2011, the Legal and Compliance Department of Industrial Bank (IB) was invited to attend the “Seminar on Green Credit Policies” held by the Statistics Department of China Banking Regulatory Commission in Beijing, and proposed suggestions on the Guidelines of Green Credit (draft for comments).

Sponsored by the Statistics Department of the China Banking Regulatory Commission and co-sponsored by Agricultural Bank of China (ABC), this forum aimed to discuss and revise the Guidelines of Green Credit (draft for comments) (hereinafter referred to as the “Guidelines”). Lasting for two days, the seminar was joined by representatives from regulatory authorities and finance institutions in the banking industry, such as the China Banking Regulatory Commission (CBRC), National Development and Reform Commission (NDRC), Ministry of Environmental Protection, Ministry of Industry and Information Technology, Shanxi Banking Regulatory Bureau, Shandong Banking Regulatory Bureau, Fujian Banking Regulatory Bureau, Hubei Banking Regulatory Bureau, Yunnan Banking Regulatory Bureau, Guizhou Banking Regulatory Bureau, Chongqing Banking Regulatory Bureau, China Development Bank, Export-Import Bank of China, Agricultural Bank of China (ABC), Industrial and Commercial Bank of China (ICBC), Bank of China (BOC), China Construction Bank (CCB), Bank of Communications, China Everbright Bank, Shanghai Pudong Development Bank, and IB. Ye Yanfei, Vice Director of the Statistics Department of CBRC, presided over the seminar and pointed out that the formulation of Guidelines could be traced back to the stress put by the state on energy conservation and emissions reduction and the release of green credit policies during the “11th Five-year Plan”. The National Comprehensive Implementation Plan for Energy Conservation and Emissions Reduction During the Period of the“12th Five-year Plan” put forward higher requirements for the banking industry. Meanwhile, the pressure from both home and abroad and that of the living environment of individuals also forced the industry to lay stress on environmental protection, energy conservation, and emissions reduction, and on the basis of summarizing previous experiences issued documents that are more operable and instructive.

At the seminar, the National Development and Reform Commission (NDRC), Ministry of Environmental Protection and Ministry of Industry and Information Technology expressed agreement with the CBRC and issued the Guidelines and proposed relevant opinions. Later on, the banking regulatory bureaus and banks attending the seminar proposed specific suggestions on the definition of relevant terms and the operability and applicable scope of the Guidelines. The representatives of IB also proposed relevant suggestions with regard to the releasing intention, implementation goals, specific clauses and other contents of the Guidelines. Additionally, upon the request of the CBRC, the representatives of IB gave an introduction to the compilation of supporting KPI of the Guidelines for which IB took the lead. In the next stage, IB will, in line with the spirit of the meeting, cooperate in revising and refining the Guidelines, make further adjustments to the supporting KPI of the Guidelines for which IB took the lead in the compilation of, and assist the CBRC to solicit opinions from all sides, so as to form the supporting tools for the Guidelines.

The release of the Guidelines by the CBRC is a significant milestone, and will guide and drive the sustainable development of the whole banking industry. In addition, the seminar will also help IB to timely learn the national policies and relevant arrangement and consideration regarding energy conservation, emissions reduction, and green credit, etc. at a strategic level, facilitating relevant work inside IB. In this way, IB can follow the situation outside in a timely and effective way and be more forward-looking.