Bank of Changsha Issues First Ever Environmental Disclosure Report

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A leading regional lender has issued its first ever environmental disclosure report, amidst a concerted push for the development of green finance from the Chinese central government.

Bank of Changsha released its “2020 Environmental Information Disclosure Report” (环境信息披露报告(2020年度)) on 13 December, becoming the first legal person financial institution in Hunan province to publicly issue a disclosure of this kind.

The report was issued with the guidance and support of the Changsha branch of the Chinese central bank, as part of the first round of trials in Hunan province for regional financial institutions to make public environmental disclosures.

Bank of Changsha prepared the report in accordance with the requirements of the Chinese central bank’s “Financial Institution Environmental Information Disclosure Guidelines” (金融机构环境信息披露指南), as well as with reference to the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD).

The report provides detailed information on areas including green financing, corporate governance, policy systems, environmental risk and opportunities, the environmental impact of business activities and investment and financing activities, green financial innovation and research results.

The Chinese central government has pushed for greater growth in green finance ever since the start of 2021, after last year unveiling of the ambitious emissions mitigation targets of achieving peak carbon by 2030 and carbon neutrality by 2060.