Sustainable Finance

Release time：2024-03-28Source：China Sustainability TribuneAuthor：媒体中心

Sustainable Finance

Consumption is the driving force of economic growth though, consumption patterns relying on natural environment and resources is to pose a constant destructive impact on the planet earth. Sustainable consumption and production enables us to do more and better with fewer resources, as well as eliminate the link between economic growth and environmental degradation, thus improving resource efficiency and promoting sustainable lifestyles. The category of Sustainable Consumption aims to discover excellent solutions to boosting sustainable consumption.

Asia Symbol (Guangdong) ’s innovative practice of green finance

To contribute to green and sustainable development, Asia Symbol (Guangdong) has promoted corporate green transformation and jointly built a green financial market with financial institutions. Actions have been launched such as carbon asset pledge, carbon emission pledge loans, and loans related to energy conservation and emission reduction, which have effectively reduced the financing costs of foreign enterprises in China, and also brought experiences and confidence to the implementation of China’s carbon peaking and carbon neutrality policies as well as the promotion of global carbon transactions.

Visa’s financial education base project in Stadium Road Community explores construction of resilient financial communities

To promote financial education in community, Visa has collaborated with its partners to establish a financial education base project in the Stadium Road Community in Dongcheng District, Beijing. The project collects the needs of and conducts follow-up research on community residents, especially the elderly and children, small and micro-sized enterprises (individual businesses), and diverse populations. It also organizes financial knowledge popularization activities and sets up financial education service stations in the community to enhance residents' financial literacy and abilities, thus enhancing the financial resilience of the community.

Lead carbon reduction and ignite the “strong engine” for green investment

To implement the concept of green investment, China Life Asset has strengthened its overall planning and made systematic progress. It has created a “green engine” plan, conducted several first ever innovative explorations in the ESG/green investment field, and constructed a set of ESG/green investment management system. As of the first half of 2023, the company's green investment amounts exceeded 370 billion yuan, providing high-quality financial services for ecological civilization and the green transformation and development of the economy and society as well.

Create a new model of sustainable digital inclusive finance powered by technology

WeBank, with technology as its core development engine, has launched a series of inclusive financial products such as Weilidai, Weiyedai, and WeBank Fortune Plus. It is dedicated to providing high-quality, efficient, and equal financial services to small and micro-sized enterprises and the public, while actively practicing sustainable development and fulfilling corporate social responsibility. It has provided services for over 370 million individual customers and over 4.1 million small and micro-sized enterprises, offering brand new ideas and examples for China's banking industry to serve the real economy and promote high-quality development.

Contribute to rural vitalization with financial technology

In response to the challenges faced by rural SMMEs, such as fund and talent shortage, and failure to adapt to market, Duxiaoman has, guided by the rural vitalization policy, removed barriers for rural industrial development through financial support, talent cultivation, production and marketing integration, after sorting out the pain points and difficulties of rural enterprises. The company actively leverages its strength in financial technology to contribute to the transformation and upgrading of rural industries, as well as the high-quality development of rural economy.

Promote carbon emission reduction loans to implement carbon peaking and carbon neutrality strategies

Industrial Bank actively promotes carbon emission reduction loans to effectively reduce corporate financing costs and encourage enterprises to pursue low-carbon development. As of the end of June 2023, the bank's green loan balance for the clean energy industry hit 157.03 billion yuan, and 148 innovative carbon emission reduction (carbon footprint) loan products were launched, with a total amount of 7.868 billion yuan, which enabled enterprises to enjoy the preferential interest rates brought by carbon emission reduction while transforming the results of carbon emission reduction into real economic and social benefits.

Boost the development of rural small clients through microcredit

To make it convenient for rural small clients to get loans, Chongho Bridge’s several small loan companies have launched tailored credit products featuring small loan amounts and flexible repayment methods for rural middle and low income groups and small and micro-sized businesses. They enhance the development ability of farmers through supporting empowerment services, and have established a comprehensive service system that deeply integrates financial services with production scenarios, contributing to SDGs while achieving commercial sustainability.

Implement self-reliance investment to serve rural vitalization with market-oriented industrial funds

As China is building a moderately prosperous society in all respects, the Central SOEs Industrial Investment Fund for Rural Area makes investments with view to serving rural vitalization and promoting common prosperity. To promote comprehensive rural vitalization through industrial prosperity, it focuses on modern agricultural consumer goods, clean energy, new energy materials, advanced manufacturing, healthcare and other basic modern agricultural industries. Through market-oriented ESG+ rural vitalization influence investment management, it balances social and economic benefits and achieves pro-poor growth in rural areas.

Financial technology enables digital financial products truly “inclusive” and “beneficial”

By leveraging its financial technology strengths in fields such as artificial intelligence, blockchain, cloud computing, and big data, WeBank has launched inclusive financial products such as Weilidai, Weiyedai, and WeBank App that are in line with national policies, which have broken the financial technology’s “impossible triangle” of large capacity, low cost, and high availability. While meeting the small-amount and high-frequency financial needs of the general public and small- and micro-sized enterprises, it also provides a strong support for achieving the development goals of being both “inclusive” and “beneficial”.

Integrity helps enterprises transform and upgrade

To address the pain points faced by enterprises under the carbon peaking and carbon neutrality strategies, State Grid Suixi County Electric Power Supply Company has launched an integrity-based project to help them in transformation and upgrading. By giving full play to the attributes of finance in financing, policy transmission, and leverage effects, the project satisfies the demands of stakeholders through the bank guarantee mechanism, alleviating the financial pressure of billions of enterprises. The project also guides the low-carbon upgrading of industries through the green finance mechanism, reducing over 100,000 tons of carbon emissions.

Build a five-in-one service mechanism to improve rural sustainable and win-win development

To promote the sustainable and win-win development in underdeveloped rural areas, Zhongyuan Consumer Finance, with view to serving rural vitalization, has built a five-in-one service mechanism (consumption-driven poverty alleviation+ technology empowerment+ financial services+ talent introduction+ public welfare service). It aims to enhance the soft power of individual farmers, rural enterprises, rural primary schools and rural organizations, and bring positive influences to the rural area, by utilizing professional knowledge, digital technology capabilities, inclusive financial services, and strength in brand operation, etc.

Advocate green investment in insurance funds to enhance sustainable financial development

Upholding the values of "openness, focus, and simplicity", Hengqin Life has built an ESG management structure in accordance with SDG goals that vertically penetrates decision-making, organizational, and implementation levels. The company fully leverages its long-term advantages of insurance funds to keep exploring green investment methods. It increases investment in green industries such as environmental protection, new energy, energy conservation and emission reduction, and ecological governance in China. It guides funds to flow to areas with environmental and social value, and boosts the conversion of new driving forces for China’s economic development from old ones.

Promote the high-quality development of enterprises in low-carbon green field with financial strength

Yunqi Shengshi Fund has constructed a “FOFs+ direct investment” model and assisted the coordinated development of “technology+ industry+ finance” in Ningxiang Hi-Tech Industrial Park by giving play to the investment leverage and guiding role of fiscal funds. It aims to create a new materials industry cluster with advanced energy storage materials as the mainstay, and it supports Ningxiang Hi-Tech Industrial Park to promote the capacity expansion of existing enterprises and establish a high-end intelligent manufacturing center in China focusing on intelligent engineering machinery, as well as an international advanced energy storage industry center focusing on lithium battery energy storage.

E-finance solves the financing problems of SMMEs in the supply chains

In order to build a harmonious and win-win supply chain ecosystem for power grid enterprises,State Grid Zhejiang Procurement Company has established an industrial and financial service center for supply chain based on the E-finance platform. The center searches for high-quality financial institutions and gathers resources from all parties across the industrial development and financial service ecosystem. It provides financial services such as bid bond insurance to suppliers within the ecosystem, so as to reduce the information gap between financial institutions and suppliers, and help SMMEs get more convenient and inclusive financial services.

Inclusive Finance in the industrial chain drives the win-win development of upstream and downstream of the industrial chain

To get rid of the difficult, expensive, and slow financing for upstream and downstream partners of the industrial chain, Yili has created an inclusive financial system featuring credit sharing for the industrial chain. The product and service system of innovative standard products+ exclusive solutions+ tailored policy for each partner not only meets the financial service needs of different partners, facilitates the growth of upstream and downstream partners, but also creates employment for society and drives regional economic development.

Improve the green competitiveness of modern agriculture and draw up a new blueprint for the development of China’s silk highland

Adhering to the concepts of ESG and green investment, the company has, to give play to the positive role of capital on the economy, environment, and society, established the Moresun Investment Fund to assist Moresun through fund tools in creating an intensive, large-scale, standardized, perennial, and industrialized new model of sericulture, which will improve production capacity and silk quality, expand silk applications, and promote the green transformation and upgrading of the traditional silkworm industry, thus providing a strong support for building Shengzhou into China's silk highland.

Cultivate the fertile soil of “profession, fineness, specialization and innovation” and train a new force for strengthening and supplementing the supply chain

In order to support the rapid development of specialized and sophisticated SMEs and promote high-quality economic growth, Beijing SME Development Fund focuses on attracting investment, intelligence, and resources, and dedicates itself to long-term patient capital and early investment into small and innovative businesses. It prioritizes high-grade, precision and advanced industries as well as new processes, new technologies, new materials and new equipment. In terms of the industrial chain, it strengthens and supplements the supply chain to guide capital to empower industries and safeguard the innovative development of SMEs.

Spark Fund increases trust and empowers public welfare undertakings

To improve the credibility, incentives and efficiency of public welfare, and to promote the application of blockchain technology in the field, Beijing New Spark Network Technology Co., Ltd. and Beijing AngelMom Charity Foundation has jointly established the Spark Fund and focused on the construction of a public welfare ecosystem with blockchain to provide blockchain solutions for public welfare organizations, so as to increase trust and empower vulnerable groups, volunteers, and public welfare organizations in the charity field.

Capital catalyzes the innovation frontier to complement and strengthen the chain to the national new district

Nanjing Jiangbei New District Service Trade Innovation Development Fund has built an industrial resource network of “FOFs+ sub-funds+ projects” to provide financial support for industries such as chips and biopharmaceuticals. It lays out innovation chains based on industrial chains, promotes the in-depth integration of capital and industries, helps the new district create industrial clusters, and accelerates the coordinated development of “technology +industry +finance”, which will inject strong new momentums into the sustained economic growth and high-quality development, and also improve the comprehensive economic, social, and environmental values.

Article keywords： Sustainable Finance

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