Recently, Industrial Bank, ZIBS, CJBS and Honor Device Co. Ltd（HONOR）co-hosted a Global Consulting Project (GCP) named “The Selection Competition of ESG Innovation and Cooperation Results” in Fuzhou, Fujian Province. On the same day, Industrial Bank formally signed a strategic cooperation agreement with HONOR. Wuhui, Director of HONOR and Zeng Xiaoyang, Vice President of Industrial Bank attended and witnessed.
For improving international communication, promoting innovation on practicing ESG (Environmental, Social, and Governance) with Chinese characters, telling Chinese stories of sustainable development well, supporting the rise of national brands, this March, in the GCP co-hosted by Zhejiang University and the University of Cambridge, a subject named “Against the Background of the Green Transformation of EU, What Can Banks Do to Support Enterprises to Go Abroad by Providing Services to the Establishment of ESG of Enterprises?”, made by Industrial Bank, became one of two final selected subjects of China, attracting 12 masters of finance from Zhejiang University and the University of Cambridge to participate in. At the same time, this project absorbed the “5+N” training system case library, forming a circle by the subject research and financial innovations and the application of enterprises.
For one month’s research and demonstration, the subject entered into the result selection period. On April 19th, experts in and out of the industry and from many fields including the State-owned Assets Supervision and Administration Commission of Fujian Province, Industrial Bank and HONOR formed a selection committee. Finally, CJBS won the Best Research Achievement Award. By deeply analyzing the China-Europe ESG policies and the opportunities and difficulties confronted by the “going aboard” of Chinese enterprises, CJBS provided an ESG package deal including financing and non-financing ESG toolboxes to support enterprises to go aboard and become “greener, cleaner, and more transparent” by banks. ZIBS won the Best Team Collaboration Award. Focusing on the China-Europe ESG analysis and excellent foreign banks’ practice, ZIBS deeply discussed the transformation and optimization of ESG of the electronic industry and the establishment of the financial ecosystem of the green supply chain, providing a reshaped roadmap leading enterprises from “comparative recognition” to “industry leading”, with banks’ help.
April 22nd marked the 55th World Earth Day. It was reported that to practice the concept of sustainable development, this selection competition was carried out paperlessly. It was estimated that paper saved in this competition amounted to reducing the emission of 50.06 kg of carbon dioxide. This competition protected the ecology of Earth through real practice.
A principal from Industrial Bank said: “Combining diverse sides including the bank, the university, and the enterprise in China and aboard, this subject is a conductive trail for promoting the going abroad of Chinese enterprises. Focusing on discrepant needs of customers and based on support from universities and thinktanks, this subject aims to improve “financing and non-financing” combination services of banks, provide support to customers to promote the ESG more effectively, improve the ability of sustainable development, and enhance international competitiveness and influence of the national brands.”
After the competition, Industrial Bank signed a strategic cooperation agreement with HONOR. According to the agreement, based on the cooperation principles of “mutual preference, long-term cooperation and a mutual benefit and win-win situation”, the two sides would take respective advantages, absorbing resources including customers, markets, channels, data, and technologies to deepen all-round strategic cooperation including sustainable development of enterprises, Techfin, supply chain finance, sustainable finance. During its efforts to support to change “China HONOR” into “World HONOR”, Industrial Bank utilized creative service methods including ESG-themed bonds, sustainability linked loans, ESG advisory services, and co-construction of abilities and provided international and diverse “financing and non-financing” services to support the national enterprises to “go aboard”.
As a pioneer in the domestic ESG field, Industrial Bank insists on promoting sustainable development concept, making creations on the “benefit with righteousness” business model, actively exploring the practice road of ESG with Chinese characters, measuring up international standards. Meanwhile, Industrial Bank put ESG elements into its development and operating strategy and promoted its ESG management from the corporate governance level. In 2023, in the ESG evaluation by MSCI, the largest index company, Industrial Bank was one of the first batch of AA level domestic banks and is the only domestic bank that had ranked first within the industry for five successive years. Industrial Bank was awarded the “Partnership for Early Awareness of Sustainability-Disclosure Today” (P4EAST) by ISSB and is the first joint-stock bank member of the ESG Committee of the China Association for Publish Companies.