Bank of Suzhou Signs the UN Principles for Responsible Banking

On May 19, 2022, Bank of Suzhou officially signed the United Nations Principles for Responsible Banking (PRB) and became a member of the United Nations Environment Programme Finance Initiative (UNEP FI). The signing of PRB is a solemn commitment of Bank of Suzhou to vigorously develop green finance, firmly support sustainable development and a significant measure to continuously explore the development path of green finance and actively improve the bank’s green finance system.

The Principles for Responsible Banking, created by a core group of 30 banks from 21 countries including ICBC, CITI, Barclays, and BNP Paribas with UNEP FI taking the lead, was officially launched at the UN General Assembly in New York in September 2019. The principles aim to encourage banks to set targets in most significant areas and embed sustainability in all business areas at strategy, portfolio and transaction levels, ensuring that banks’ strategy and practice align with the UN Sustainable Development Goals and the Paris Climate Agreement.

In recent years, Bank of Suzhou has actively implemented major decisions and arrangements of the state and local governments to promote green development. Focusing on the national strategic targets of ‘emission peak and carbon neutrality’, it has given full play to its professional advantages as a financial institution to explore the development path of green finance. By accelerating green lendings, strengthening green and low-carbon operations, innovating green wealth management products, promoting the first carbon-neutrality green bond in Suzhou and participating in the issuance of the country’s first carbon-neutrality entrepreneurship and innovation bond and first carbon-neutrality intellectual property pledged bond, Bank of Suzhou has been vigorously improving the high quality development of green finance.

In the future, Bank of Suzhou will actively implement the 6 principles of PRB, continue to explore the innovative path of green development, further promote the regional green development and build a distinct green finance brand in Yangtze River Delta.