Environmental and Social Policies of IB
Spurred on by scientific and rational approaches to development, sustainable development has become a mainstream concept for the new era. Sustainable finance is an extension of the concept of sustainable development in the financial industry. Sustainable finance safeguards the long-term interests of financial institutions, helps to prevent financial risks brought about by ecological and environmental deterioration (including direct ecological environmental risks, implicative supervisory regulation and policy risks and risks threatening the social image of financial institutions), and even encourages banks to take countermeasures that will allow them to benefit from the challenges evoked by the present and ever changing financial market. Moreover, sustainable finance encourages the growth of an entrepreneurial spirit that promotes harmony with the environment and society and creates an aspiring social image.
As a nationwide joint-stock commercial bank, the Industrial Bank believes that the Chinese banking industry has been given the mission of fulfilling corporate social responsibilities and promoting sustainable financial development by the age that are currently in. This is an important step in complying with laws and requirements, and something that is unavoidable if we are to adapt to the completion of the future. Social responsibilities and sustainable finance are core philosophies and values of the Industrial Bank. These values guide the bank in its commercial operations.
On that basis, in order to unify all concepts, regulations and measures of environmental and social policies of the bank and advance the long-acting development of sustainable finance of the bank, IB has established relevant environmental and social policies, mainly including the following basic contents: guidelines, statements and commitments, departments and responsibilities, internal and external measures, and credit procedure. By establishing and implementing policies, IB hopes to fulfill the bank’s commitments in sustainable environmental and social development and build the environmental and social policy system of the bank into a scientific, close and ordered whole under the guiding of the policy, and serve as a solid foundation for the bank’s sustainable finance.TOP