Fujian Haixia Bank (First Year Implementation)
|Adoption Date:||08 Dec 2021|
|Country of Headquarters:||China|
|Region of Headquarters:||Asia-Oceania|
|Current EPFI Reporting Year/Period:||2022|
|Institutional Reporting:||No Report Available|
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Further information on this EPFI may be obtained through the Institutional Reporting hyperlink.
Implementation of the Equator Principles
Haixia Bank of Fujian officially adopted Equator Principles in December 2021 and became the 8th Equator Principles Financial Institution (EPFI) in China.
To implement the EPs, Haixia Bank of Fujian adapted the organizational structure, credit policy, management methods and business process of the bank in accordance with the requirements of EP4, and issued “Haixia Bank of Fujian Equator Principles Project Management Measures” (hereinafter referred to as “the Measures”). The Measures integrate the concepts and provisions of the Equator Principles into the whole project loan process, stipulating that credit granting customers involved in major environmental and social risks should disclose relevant information in accordance with laws and regulations, and take the initiative to accept the supervision of the market and stakeholders. At the same time, Haixia Bank of Fujian organized relevant departments and operating institutions to receive training on the Equator Principles Project Financing Operation Practice.
The environmental and social risk classification of EP projects is undertaken by professionals in our Green Finance Department. For projects with environmental and social risks of Category A and some part of Category B projects, Haixia Bank of Fujian hires an independent third-party professional institution to assess the environmental and social risks of the project.
Until the end of 2022, there is one EP project in the bank, that belongs to the category B of the Equator Principles’ classification. The project belongs to the industry of cotton, chemical fiber knitted products and woven products manufacturing, located in Lianjiang County, Fuzhou City, Fujian Province, with a financing amount of RMB 240 million. The project has undergone an independent review. There is one organizer and one co-organizer in the project, who are responsible for material collection, due diligence, project tracking, and customer relationship maintenance. The internal risk management policies and processes have been carried out in accordance with our bank’s relevant documents.