In recent years, global financial markets have placed increasing importance on the efforts and contributions of listed entities to promote global sustainable development. Not only are their measures focused on mitigating climate change and improving the environment increasingly attracting attention, but their performance in protecting the rights and interests of customers, shareholders, employees, of society and other stakeholders is also gaining in importance. The focus of all parties involved, especially institutional investors, is gradually shifting from short-term financial performance to long-term value creation.
With the resulting acceleration in the growth of the green financial market, financial institutions should actively respond to sustainable development initiatives, participate in the formulation of international standards for green finance and infrastructure building, and promote the principles of green investment to stimulate the development of the global market. green finance through innovation and development and contribute directly to social progress and common prosperity.
As one of the largest banks in the world, China Construction Bank Corporation (CCB) has actively explored new concepts in the development of the global green finance industry.
With the aim of becoming a sustainable, low-carbon, environmentally friendly bank that serves the public and improves the livelihoods of people around the world, the CCB has used a combination of financial instruments, including credits green bonds, green bonds, green leases, and green trusts to continually increase support in areas such as energy conservation and emission reduction, clean energy, clean transportation, and pollution prevention and control. pollution, to proactively support and foster green industries globally.
In 2020, CCB issued $1.2 billion of senior green bonds under the theme of “fighting global climate change” and received the award for the best offshore green bond 2020 by The asset – Hong Kong. At the end of the same year, the CWB’s overall “green loan” portfolio stood at $215 billion, an increase of $26 billion or 14.20% over the previous year.
Our bank is currently assigned an environmental, social and governance rating of “A” by Morgan Stanley Capital International.
In line with our Group’s global initiative to promote net zero emissions, CCB Australia has emphasized low carbon operations and a priority on receiving green energy. As a direct result of the introduction of a set of specific emissions reduction and carbon offsetting programs into the day-to-day operations of each of our Australian offices, CCB Australia has been certified Carbon Neutral by the federal government agency Climate Active in the calendar year 2020. We are proud to say that we were the first Chinese organization in Australia to receive this certification and the first entity within the CCB Group in the world to receive such recognition outside of our home market in China.
At the same time, as part of our green-themed business activities in Australia, since the establishment of our branch and our first office in Sydney, we have financed and supported the investments of our Chinese customers in the renewable energy sector in Australia. Over time and with the subsequent establishment of our offices in Melbourne, Brisbane and Perth, our servicing and lending activities in this sector have expanded to include several Australian and international project sponsors.
Following the introduction of the Green Lending Principles in 2018, CCB Australia was one of the world’s first-ever green loan lenders, and in 2019 CCB Australia participated in the first sustainability-related loan taken out by an energy company in the Asia-Pacific region.
Over the past 11 years of doing business in Australia, CCB has developed and supported a diverse portfolio of clients in the renewable energy sector and in the provision of green and sustainability-related loans, currently supporting over AUD 1 billion in facilities credit committed.
CCB Australia is committed to continuing to support green and net zero energy initiatives and programs. Our team in Perth, supported by green finance specialists around the world, are ready to combine our efforts with those of Western Australian businesses to ensure a green and sustainable future, not just for our great state, but for the world. .