Postal Savings Bank of China Commits to Development of Green Finance

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One of China’s big six state-owned banks has reiterated its commitment to green finance in 2023.

Du Chunye (杜春野), vice-president of Postal Savings Bank of China (PSBC), said the big state-owned lender would vigorously develop green finance, and expedite its more rapid and effective development.

“In our vigorous development of green finance, [we] will uphold systemic concepts, incorporate it into our own strategic positioning, and engage in coordinated advance across multiple fronts including corporate governance, innovation drivers, incentives and restraints, risk management and cooperation and exchange,” Du said.

Du made the remarks on 23 December at the “2023 Green Finance International Summit” (2022绿色金融国际峰会).

As of the end of September 2022, PSBC’s green loan balance stood at 465.771 billion yuan for year-on-year (YoY) growth of 34.33%.

Over the past two years PSBC has obtained an MSCI ESG rating of A.