Bank of Chongqing (First Year Implementation)
|Adoption Date:||02 Feb 2021|
|Country of Headquarters:||China|
|Region of Headquarters:||Asia-Oceania|
|Current EPFI Reporting Year/Period:||First Year Implementation|
|Institutional Reporting:||Link to Report|
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Further information on this EPFI may be obtained through the Institutional Reporting hyperlink.
Implementation of the Equator Principles
Bank of Chongqing adopted the Equator Principles in February 2021, and formulated EP Project management methods with reference to EP4, mainly including the direction for projects risk classification and operating procedure, as well as a series of investigation tools, risk monitoring tools and legal texts. By a series of actions, Bank of Chongqing integrated the EP4 requirements into the whole procedure of credit business.
- To improve corporate governance structure and ESG management system
The Bank gives great attention to EP implementation in corporate governance. The Bank set up a “Green Finance Development Leading Group” in management level and a new “Green Finance Department” in headquarter. All the six subordinate branch-level institutions have set up green finance innovation service centers, and 49 branches directly under the head office have designated special personnel to engage in green finance work. In a word, a four-level green finance management system was set up from top to bottom, providing guarantee for EP implementation.
- To strengthen ESG risk management through Fin Tech approach
The Bank has pioneered launching of the EP management system in local area, adjusting IT system and database to be validly compatible with EP requirements, supporting identifying, evaluating and managing relevant risks in the whole process of project financing. Continue to strengthen the environmental and social risk management capabilities.
- To strengthen training and ESG capacity building
The Bank continues to carry out training and capacity-building activities on environmental and social risk management. Till the end of 2021, more than 700 management and business personnel have accepted EP training as well as green finance business training. EP business materials and the operation handbook were released on the bank’s OA platform, to help employees assess and manage environmental and social risks following EP in the whole process of project financing.
- To extend external cooperation and push the implementation of ESG projects
In 2021, under the help of external experts, Bank of Chongqing completed a comprehensive diagnosis from the perspective of environmental and social risks management and updated the business procedure to meet EP requirements. The bank pushed the implementation of EP through pilot projects.
Further information on Bank of Chongqing implementation is provided here.