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PSBC inaugurates its first carbon neutrality subbranch
PSBC inaugurates its first carbon neutrality subbranch
| China News |2021-11-18

Recently, Postal Savings Bank of China (hereinafter referred to as PSBC) inaugurated its first carbon neutrality subbranch in Changpo Town, Gaozhou City, Guangdong Province in South China. This is an important measure for PSBC to thoroughly apply the new development philosophy and implement green and low-carbon circular development.

Located in Gaozhou City, Guangdong Province, Changpo Town is rich in natural resources and is a famous "forest town". The Gaozhou Reservoir hydropower station and other hydropower stations in the region continue to supply green energy to the local area. PSBC innovatively established the carbon neutrality subbranch in Changpo Town based on local conditions, and made active explorations for the development of green finance and the realization of the dual carbon goals.

The Changpo carbon neutrality subbranch prioritizes the development of green and low-carbon industries, and focuses on local investment and financing needs for green and low-carbon technologies, green production, green consumption, and promotion of rural revitalization. The subbranch also helps to coordinate the development of the economy, society and the environment by means of establishing a green financial experience center, optimizing the allocation of green credit resources, and actively exploring and optimizing innovative green financial products and services such as pledged loans for carbon emission rights, pledged loans for carbon sinks, pledged financing of energy-saving and emission reduction income rights, etc. At the same time, the subbranch has also launched a dual-carbon policy publicity platform to promote the concept of green, low-carbon and eco-friendly development, and to engage more social sectors to participate in the low-carbon environmental protection. In addition, the subbranch has been actively exploring new ways such as energy-saving transformation to further strengthen green operations and strive for carbon neutrality in its own operations.

Up till now, PSBC has initially built the subbranch into a model project for its carbon neutrality network nationwide. In the next step, PSBC will continue to vigorously develop sustainable finance, green finance and climate financing, support green and low-carbon development, striving to build a green inclusive bank and climate-friendly bank, and utilize financial resources to help achieve the dual carbon goals.

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