On November 22, the International Finance Forum (IFF) held its 21st Global Annual Meeting (F20 Summit) in Hong Kong, China. China's Industrial Bank (CIB) was awarded the "IFF Global Green Finance Award – Innovation Award" for its pioneering work on the Dual-Carbon Management Platform project.
Independently developed by CIB, the Dual-Carbon Management Platform is the first in the domestic banking industry to integrate corporate and individual carbon accounts. It provides digital components to support carbon finance innovation, carbon neutrality services, carbon tariff management, and ESG management system development, enriching business scenarios and product innovation. Leveraging this "carbon brain", CIB continues to explore the development of the "1+N" digitalized dual-carbon management system for green finance, advancing the application of digitalized green finance scenarios centered around carbon accounts. To date, CIB has established 1.456 million individual carbon accounts and 8,107 corporate carbon accounts on its Dual-Carbon Management Platform, effectively promoting services for green and low-carbon development.
Focusing on the key objectives and initiatives of the Beautiful China construction, CIB has prioritized carbon reduction and pollution mitigation as key business areas, and comprehensively upgraded its green financial products and service systems, achieving steady growth in the scale of green finance business. As of the end of September, CIB's green financing balance is nearly RMB 2.2 trillion, representing a 15.34% increase from the end of last year. According to the People's Bank of China metrics, the green loan balance was RMB 943.8 billion, a 16.66% increase compared to the end of last year. These loans support green projects that contribute to the annual savings of 10.16 million tons of standard coal, 24.13 million tons of carbon dioxide emissions, and 10.5 million tons of water, delivering significant economic, social, and environmental benefits. Meanwhile, as a member of the Belt and Road Green Development Alliance and the Green Finance Specialized Committee of the Asian Financial Cooperation Association, CIB has been actively engaged in international exchanges and cooperation in the green finance sector, receiving honors such as Outstanding Contribution Award and Best Practice Award of the Green Investment Principles for the Belt and Road.
The International Finance Forum (IFF) is a non-profit, non-governmental independent international organization established in October 2003 by G20 countries and regions, emerging economies, and related international organizations such as the United Nations, the World Bank, and the International Monetary Fund. It serves as a high-level permanent dialogue mechanism and multilateral cooperation institution in the global financial field, known as the "F20 (Finance 20)" of the sector.