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PSBC wins “IFF Global Green Finance Innovation Award”
PSBC wins “IFF Global Green Finance Innovation Award”
| China Post |2021-12-14

Recently, the International Financial Forum (hereinafter referred to as IFF) announced the results of the second “IFF Global Green Finance Award”, and the Postal Savings Bank of China (hereinafter referred to as PSBC) won the “IFF Global Green Finance Innovation Award”.

In recent years, PSBC has thoroughly implemented the new development concept, vigorously developed sustainable finance, green finance and climate financing from the aspects of corporate governance, policy system and product innovation, and actively built a first-class green inclusive bank and climate friendly bank. It has been recognized as the outstanding organization in the overall evaluation of green banks by China Banking Association for many consecutive years. In 2021, PSBC was rated “A” on MSCI ESG ratings assessment, taking a lead in China's banking industry. By the end of October this year, the balance of green loans of PSBC has reached 357.5 billion yuan (about 56.1 billion US dollars), an increase of 27% over the end of the previous year. And the balance of green financing is 404.7 billion yuan (about 63.5 billion US dollars), up 27% over the end of last year.

The IFF, founded in October 2003, is an independent, non-profit, non-governmental international organization headquartered in Beijing. The IFF awards have global influence. PSBC’s winning this award reflects the recognition and affirmation of the international community for its innovation and achievements in the field of green finance.

It is understood that PSBC will continue to thoroughly implement the major decisions and arrangements of the CPC Central Committee and the State Council on actively addressing climate change and strengthening biodiversity protection in the future, implement the 2030 Sustainable Development Goals of the United Nations and the Paris Agreement, promote the construction of green inclusive banks and climate friendly banks, help achieve the goals of carbon peaking and carbon neutralization, and support the construction of ecological civilization.

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