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China Minsheng Bank Officially Becomes A Signatory Bank of the Principles for Responsible Banking

In April 2022, China Minsheng Bank officially signed the Principles for Responsible Banking (the “PRB”), marking that it, as one of the domestic systemically important banks, has taken another solid step in actively integrating into and serving the national strategy and implementing sustainable development philosophy.

The PRB was formulated by the United Nations Environment Program Financial Initiative (UNEP FI), and was officially released at the UN General Assembly in 2019. It includes six basic principles of alignment, impact & target setting, clients & customers, stakeholders, corporate governance, transparency & accountability. By providing a consistent framework for banks to build sustainable development system, the PRB encourages banks to integrate sustainable development elements in all their businesses, ensuring compliance with the 2030 Agenda for Sustainable Development of the UN and the Paris Climate Agreement. Up to now, more than 250 banks around the world with total assets accounting for more than 40% of the global banking industry, have signed the PRB.

China Minsheng Bank has attached great importance to sustainable development and has made remarkable achievements in terms of green finance, rural revitalization and inclusive finance through strategic guidance and coordinated advancement. As at the end of 2021, the balance of green credit increased by 103.76% to RMB107,317 million. The Bank won a series of awards and honors, including the Best Bank for Green Finance Services of the Year 2021 by Financial Times, the Low-Carbon Bank of the Year 2021 by 21st Century Business Herald, the Green Finance Award of the Year in the 2021 Jinding Awards of China by National Business Daily and the Low-Carbon Innovative Enterprise with Social Responsibility by China Energy News, etc.

Taking signing the PRB as an opportunity, China Minsheng Bank will act in line with advanced international standards, shoulder its social responsibility and historical mission of sustainable development, continue to thoroughly implement the key decisions and arrangements of the CPC Central Committee and the State Council for actively responding to climate change and developing green finance, and promote the transformation and upgrading of operation and management and high-quality development, so as to contribute greater financial strength to reaching China’s goals of carbon emission peaking and carbon neutrality, and pursuing harmonization between economic and social development and ecological and environmental protection.