Facilitating the Climate Friendly Transition of Commercial Banks


Commercial Banks represent 90% of total financial assets in China and thus play an essential role in reaching the country’s carbon neutrality goal. On July 6th, NRDC organized a seminar on climate friendly transition for commercial banks with CIFA (the Climate Investment and Finance Association) and launched a research project with the Association and other partners who are taking active actions in climate-friendly transition, including CECEP(China Energy Conservation and Environmental Protection Group), IB Research (Industrial Bank Research) and PSBC (Postal Savings Bank of China). The project, entitled, Climate Friendly Transition of Commercial Banks Under the Goals of Carbon Neutrality, aims to  develop an “initiative on climate-friendly banks”,  conduct studies and facilitate exchanges on key issues of commercial banks’ climate friendly transition, including financial climate disclosure, low carbon transition, and investment opportunities under carbon neutrality. Officials from China’s Banking and Insurance Regulatory Commission and the Ministry of Ecology and Environment attended the seminar and had a lively discussion with experts from leading climate finance think tanks and commercial banks. In the fourth quarter of 2021, NRDC and CIFA will hold the second annual Climate-Friendly Banks Seminar and release the milestones of this project.