China News Service, Beijing, June 2 (Reporter Wang Enbo) The "Green Finance Guidelines for Banking and Insurance Industry" issued by the China Banking and Insurance Regulatory Commission was released on the 2nd.
This document requires banking and insurance institutions to gradually and orderly reduce the carbon intensity of their asset portfolios while ensuring energy security, industrial chain and supply chain security, and ultimately achieve carbon neutrality in their asset portfolios.
According to the person in charge of the relevant departments of the China Banking and Insurance Regulatory Commission, the "Guidelines" require banking and insurance institutions to thoroughly implement the new development concept, promote green finance from a strategic perspective, increase support for green, low-carbon and circular economy, and prevent environmental, social and governance risks. Improve its own environmental, social and governance performance, and promote a comprehensive green transformation of economic and social development.
At the same time, banking and insurance institutions should incorporate environmental, social and governance requirements into their management processes and comprehensive risk management systems, strengthen environmental, social and governance information disclosure and exchanges and interactions with stakeholders, and improve relevant policy systems and process management.
The Guidelines emphasize that banking and insurance institutions should adhere to making progress while maintaining stability, adjust and improve credit policies and investment policies, actively support the construction of a clean and low-carbon energy system, and support key industries and fields in energy conservation, pollution reduction, carbon reduction, greening, and disaster prevention. Implement cleaner production, promote the promotion and application of green and low-carbon technologies, implement carbon emission and carbon intensity policy requirements, establish first and then break down, make comprehensive plans, maintain pressure, and implement classified policies to prevent "one size fits all" and campaign-style carbon reduction.
The Guidelines require banking and insurance institutions to strengthen investment and financing process management, conduct credit and investment due diligence, strengthen credit and investment approval management, urge customers to strengthen environmental, social and governance risk management by improving contract terms, and improve post-lending and post-investment management. .
Banking and insurance institutions are encouraged to improve their green financial management level, adopt differentiated and convenient management measures, and optimize environmental, social and governance risk management for small and micro enterprise financing, online financing and other businesses.
The Guidelines also require banking and insurance institutions to strengthen internal control management and information disclosure, establish a green finance assessment and evaluation system, implement incentive and restraint measures, and improve the due diligence and exemption mechanism to ensure the sustainable and effective development of green finance.
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