|Date joined:||10 April, 2021|
|Initiatives:||Principles for Responsible Banking|
Bank of Jiangsu was established on 24thJanuary 2007 with its headquarter in Nanjing of Jiangsu Province, China. It was listed on the main board of Shanghai Stock Exchange on 2nd August 2016 (stock code 600919), and was included in MSCI China Index on 1st June 2018. The bank is one of the 24″‘ systemically important bank in China with a total asset of RMB 2.34 trillion (c.a.US$ 360 billion) at end of 2020. It ranked as the 92nd largest bank by Tier 1 capital worldwide by the Banker magazine in 2020, and top 831d banking brand by the Brand Finance in 2021.
Bank of Jiangsu (BoJ) comprises the banking business with 17 tier-1 branches and 4 subsidiaries including the Suyin Financial Leasing, the Suyin Wealth Management, the Suyin KGI Consumer Finance and the Baode County Bank of Danyang. BoJ focuses its financing business in the 3 most important economic regions of China, i.e. the Yangtze River Delta, the Pearl River Delta (Guangdong-HongKong-Macau) and the Rohai Rim (Beijing-Tianjin-Heibei).
BoJ places sustainability at the core of its business. It adopted the Equator Principles in January 2017 and was the second EPFI in China. It was also a partner of the International Finance Corporation to roll out the energy efficiency financing programme in China in 2012. It was the sole partner of the Clean Development Mechanism Fund, managed by China’s Ministry of Finance, to launch the widely acclaimed blended concessional finance product in Jiangsu Province of China in 2018. BoJ upholds the core value of innovation, integrity and quality, and is committed to creating better lives for our society.
Summary of sustainability strategy
Since their foundation in 2007, they have opened up opportunities for their customers, communities and wider society. They aim to build a future that prioritises the environment, resilience and social fairness alongside the economic growth. They are committed to building a business for the long term and developing client relations that last long. They strive to be a well-managed organization that people are proud to work for.
They recognise the potential impact of climate change and have set out an ambition to align their financing portfolio to China’s nationally determined contribution (NDC) goals under the Paris Agreement. Their aim is to accelerate the transition to a thriving low-carbon economy with their innovative financing instruments and services.
Their sustainability plan comprises three parts:
- Support customers to embark on low-carbon transition
- Unlock financial solutions and innovation to mitigate and adapt to climate change
- Transform themselves into a net-zero bank
They will work closely with a range of stakeholders, e.g. regulators, governments, NGOs, communities, customers, etc. To achieve their sustainability goals.