CCB Becomes First Big Chinese Bank to Issue Environmental Disclosure Report

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Big state-owned lender China Construction Bank (CCB) has become the first large-scale bank in China to issue an environmental disclosure report, following a push for growth in green finance from the People’s Bank of China (PBOC).

CCB recently issued the “Environmental Information Disclosure Report” (环境信息披露报告), which was drafted in accordance with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), as well as the “Financial Institution Environmental Information Disclosure Guidelines” released by PBOC.

CCB said that the move “fully exemplifies the progressive green thinking and outstanding results of CCB in terms of strategic planning, operational development and product innovation.”

According to the report CCB’s green loan balance was 1.96 trillion yuan as of the end of 2021, for a 35.61% increase compared to 2020. In 2021 CCB also underwrote 41.4 billion yuan in non-financial company green bonds, including the Chinese market’s first carbon neutrality bonds, as well as sustainable development-linked bonds and the interbank market’s first green REIT’s.

CCB has also established a peak carbon and carbon neutrality leadership team and green finance committee, responsible for the formulation and implementation of the “Green Finance Development Strategic Plan (2022 – 2025)” (绿色金融发展战略规划(2022-2025年)) and the “Action Plan for Servicing Peak Carbon and Carbon Neutrality” (服务碳达峰碳中和行动方案).