Pic: Huzhou Branch of PSBC @Jia Yang  

NRDC has been working with the Postal Savings Bank of China (PSBC), China’s fifth largest commercial bank by deposits, and other banks and partners on promoting commercial bank climate finance over the past two years. The efforts range from comprehensive research and developing and incorporating environmental and climate risk management into banks’ loan approval process to designing and piloting carbon-sink loan model. Our efforts have been recognized by top management within PSBC. On Jan. 16, PSBC’s Vice President Yao Hong published an article highlighting the progress that the bank has made on climate finance in China Finance, an influential industry journal under the central bank. In this article, Ms. Yao highlighted that the NRDC’ support to improve their management within BRI investment, and is considering withdrawing support for overseas traditional fossil energy and high-carbon assets including coal and coal power plants. NRDC’s report provides sound analysis for PSBC’s strategy development and can provide reference to other peer banks.