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Can China Guangfa Bank, which has been delayed in its listing, gain extra points by relying on ESG?

2024-08-20

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As the global consensus on sustainable development deepens, the environmental, social and governance (ESG) framework has gradually become a key indicator for leading corporate sustainable development and a "compulsory course" for listed companies. Many companies that have not yet gone public have also carried out ESG governance in advance in order to become a "plus point" for listing.

As one of the first batch of joint-stock commercial banks in China, China Guangfa Bank attaches great importance to ESG governance. In the "China Guangfa Bank 2023 Social Responsibility (ESG) Report", it stated that the bank is unswervingly promoting the sustainable development of the enterprise, actively fulfilling its social responsibilities, and carrying out all aspects of work in a stable and orderly manner.

Green financial products and service systems are important issues for the ESG governance of banks. In recent years, China Guangfa Bank has continuously innovated and improved its green financial products and service systems, enhanced the adaptability of green financial services, and made financial services more accurate and efficient. In 2023, China Guangfa Bank closely followed the national development strategy, actively explored green financial product innovation, issued 7 green wealth management products, and the balance of green credit reached 154.367 billion yuan.

In the corporate governance sector, China Guangfa Bank mentioned that the bank has continuously deepened the party building leadership, improved the corporate governance mechanism, strengthened the risk control system, and adhered to the construction of a legal and compliant system. During the reporting period, the bank's risk management refinement level was further improved, and the internal control and compliance management capabilities continued to improve.