Potential offtaker

Industrial Bank Co.,Ltd.

www.cib.com.cn

Estimated electricity consumption

N/A

Countries of production presence

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Industrial Bank Co., Ltd. is one of the leading commercial banks in China, with headquarters in Fuzhou, Fujian Province. The bank operates in the banking sector, providing a range of financial services to individuals and businesses, including corporate and investment banking, wealth management, and insurance. Industrial Bank has a strong commitment to sustainability and has been actively involved in decarbonisation efforts in recent years.

Decarbonisation is a critical issue for China, as the country is the world's largest emitter of greenhouse gases. Industrial Bank recognises the importance of reducing its carbon footprint and has taken several steps to achieve this goal. The bank has implemented energy-saving measures in its branches and offices, such as using energy-efficient lighting and HVAC systems. It has also invested in renewable energy projects, such as wind and solar power, to reduce its reliance on fossil fuels.

Corporate energy is another area where Industrial Bank is making significant progress. The bank has implemented a corporate energy management system to monitor and control its energy use. This system has helped the bank identify areas where it can reduce energy consumption and has resulted in significant cost savings. Industrial Bank has also implemented a corporate power purchase agreement (PPA) to purchase renewable energy directly from generators. This has helped the bank reduce its carbon footprint and support the development of renewable energy in China.

Renewable energy is a key focus area for Industrial Bank. The bank has invested in several renewable energy projects, including wind and solar power, and has provided financing for these projects. Industrial Bank has also launched several green finance products, such as green bonds and green loans, to support the development of renewable energy and other sustainable projects. The bank has set a target to increase its green finance portfolio to RMB 500 billion by 2025.

In addition to its sustainability efforts, Industrial Bank has a strong commitment to corporate social responsibility (CSR). The bank has implemented several CSR initiatives, such as providing financial education to underserved communities and supporting disaster relief efforts. Industrial Bank has also established a foundation to support social welfare and environmental protection projects.

Industrial Bank has received several awards and recognitions for its sustainability efforts. In 2020, the bank was included in the Dow Jones Sustainability Index (DJSI) for the fourth consecutive year. The DJSI is a global benchmark for sustainability performance and recognises companies that demonstrate leadership in environmental, social, and governance (ESG) issues. Industrial Bank was also included in the FTSE4Good Index for the third consecutive year in 2020. The FTSE4Good Index is a global benchmark for ESG performance and recognises companies that meet certain sustainability criteria.

In conclusion, Industrial Bank Co., Ltd. is a leading commercial bank in China that is committed to sustainability and decarbonisation. The bank has implemented several energy-saving measures, invested in renewable energy projects, and launched green finance products to support sustainable development. Industrial Bank has also demonstrated a strong commitment to CSR and has received several awards and recognitions for its sustainability efforts. As China continues to focus on decarbonisation and sustainable development, Industrial Bank is well-positioned to play a leading role in this transition.

✓ Declared Net Zero commitment