Postal Savings Bank of China attaches great importance to
green credit business, and therefore actively implements the regulatory requirements, including Guidance Opinions on Building of a Green Finance System and Green Credit Guidelines. PSBC strictly implements the environmental standards and norms, including administrative permissions for environmental protection and regulations on environmental safety, and firmly prohibits marketing, admission and acceptance of the customers and businesses out of compliance with industry policies and standard requirements on energy consumption, environmental protection, quality and safety, etc. The bank conducts classified management and dynamically evaluates the environmental and social risks of enterprises and projects, insisting on a “one-vote veto system for environmental protection” and implementing “zero tolerance” policies for enterprises and projects failing to meet the environmental protection requirements.
In 2016, the bank continued to enhance the building of green credit policies and systems and has defined the key directions and areas of green credit development. While further intensifying efforts for supporting environment-friendly industries and projects, the bank strengthened the management and control over credit projects for high environmental risk industries and strictly restricted credit extension to borrowers and loan projects in industries with “high pollution, high energy consumption and over-capacity”. As at the end of 2016, the balance of green credit (mainly including projects in green transport, renewable and clean energy, and energy conservation and environmental protection) of the bank amounted to RMB 75,231 million. In 2016, Postal Savings Bank of China won multiple honours including “Excellent Green Finance Brand”, “Annual Outstanding Inclusive Financial Bank” and “Outstanding Social Responsibility Practice Enterprise in 2016”.
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