China Industrial Bank has formally released its annual sustainability report for 2009.
The report consists of eight parts: overview, management, development, environmentally-friendliness, returning to the society, globalization, practice, and an appendix. It documents Industrial Bank's CSR practice and achievement in 2009 focusing on the concept of sustainable development. In particular, it interprets Industrial Bank's social responsibility from the perspective of the environment and sustainability.
There is also a special part, Equator Principles-Green Manifesto of Banks, in the report. This part systematically introduces the basic concept of Equator principles, Industrial Bank's strategy in implementing the principles, its achievement as well as the comments made by external parties on the practice.
It is learned that Industrial Bank will also publish its first Equator Principle Annual Report based on the IBSR in the hope of drawing more attention from foreign stakeholders to sustainable development and green credit in China's banking industry.
As the first equator bank in China, Industrial Bank has extended its sustainable finance services to such fields as the environment, social risk management, green loans, energy saving and emission reduction loans and low-carbon products. In addition to carrying out due diligence inspection and post-loan management on projects applicable to the Equator Principles, it has established an environment and social risk management system for developing its finance service.
