GlobalData offers a comprehensive analysis of Construction Bank, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Construction Bank’s ESG performance. GlobalData’s company profile on China Construction Bank offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
China Construction Bank (CCB) focused on the "carbon peak and carbon neutrality" strategic goal, reviewed and approved the Action Plan for Carbon Peaking and Carbon Neutrality, strengthened the allocation of green assets, and steadily addressed the environmental and climate challenges. CCB has taken steps to reduce emissions, including scrapping vehicles and procuring end-of-life services for computers and other equipment. The bank has also donated funds to support green and low-carbon development, rural revitalization, and barrier-free services. China Construction Bank’s latest filings mentioned the keywords 'Carbon' and 'Emissions' most number of times in relation to ‘Climate Change’.
CCB has a balance of green loans, which refers to the sum of RMB-equivalent loan balances invested in energy-saving and environmental protection industries, clean production industries, clean energy industries, ecological environment industries, green upgrading of infrastructure, green services, overseas projects adopting international practices or standards, green trade financing, and green consumption financing. As of the end of 2022, the balance of green loans reached RMB2.75 trillion, with a year-on-year increase of 40.09%. In FY2022, the company’s total GHG emissions from Scope 1 &2 were 1,682,812.20 tCO2eq.
CCB has conducted climate transition risk stress tests for eight carbon-intensive industries, including electric power, iron & steel, building materials, petrochemical engineering, chemical engineering, paper-making, civil aviation, and non-ferrous metal smelting industries. The bank has quantified the climate transition risk tolerance of its customers in carbon-intensive industries and its own risk tolerance in the face of climate change-induced credit risks. CCB has also explored and established a climate transition risk stress test methodology system for carbon-intensive industries, expanding the depth and breadth of stress testing. The bank has experienced success in cultivating a group of professional elites and creating a method system that is leading in the industry and can be used to conduct quantitative analysis and stress tests of multiple industries with high carbon emissions.
CCB developed and applied its carbon emission management system, carried out an energy consumption audit bank-wide in 2022, to strengthen the management of operational carbon footprint. The Bank steadily promoted energy conservation and emission reduction measures in line with environmental targets, and regularly reviews progress in achieving these targets. CCB advocated green office and intelligent operation, relying on energy-saving technology transformation to improve energy efficiency. To promote the green development of suppliers, the concept of green procurement was implemented and green evaluation standards for suppliers were set up.
In conclusion, CCB promoted the implementation of the strategic plan of green finance development and the action plans for carbon peak and carbon neutrality. The company also developed environmental, social and governance (ESG) work plans based on the actual business situation and implemented such in a top-down approach.