Addressing
Climate Change
In recent years, climate change has increased climate anomalies around the world and become one of the world’s most pressing sustainability concerns. We take the impact of climate change seriously and have put various measures in place to manage climate-related risks. We are a TCFD signatory since 2021 and we have begun to progressively disclose climate-related information with reference to the TCFD recommendations. We released our first standalone TCFD Report in 2023.
We will continue to enhance our resilience to climate change over the long term.
Strengthening our Resilience to Climate Change
To demonstrate the Group's commitment to sustainability and enhance the resilience of our portfolios in response to climate change, the Group has committed to ceasing financing for new coal mining and coal-fired power projects outside of the Chinese mainland since the fourth quarter of 2021 and further expanded the restrictive scope to projects in the Chinese mainland and for the development of infrastructure dedicated to support the operation of new coal related projects since Oct 2023 and Nov 2024 respectively. In addition, the Group has formulated the ESG Sensitive Sector Strategy Statement, which clearly outlines the Group’s mid-term strategies towards ESG sensitive sectors. While considering the needs for securing stable energy supply, the Group will promote the low-carbon transition of customers in high-emitting industries in an orderly manner, and encourage customers to pay more attention to biodiversity and environmental protection.
Strategy Statement
Driving Customers in Green Transition
By embracing a strategic approach to green and sustainable finance, we are actively playing a leading role as a financial institution to direct capital flows towards areas in climate change mitigation and adaptation, and to support customers in low-carbon transition and to seize climate opportunities.
