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Sustainable development

Chinese Banks Enhance Support for Co-Construction Country through Sustainable Development Initiatives

Strategic Insights

— 1 min read

Chinese banks have continued to increase their support for the co-construction country in areas such as ecological environmental protection, energy conservation and emission reduction, and green transportation, financing and supporting a number of green projects to promote local green and low-carbon transformation and development. Chinese banks have also made innovations and breakthroughs in the field of green bonds, issuing multiple green bonds in multiple currencies, guiding global funds to gather in the construction of the "Green Silk Road." Banking and insurance institutions will incorporate environmental, social, and governance factors into the investment and financing decision-making framework to promote sustainable development.

Key Takeaways:

  • Chinese banks have supported 19 wind power, biomass, photovoltaic, and geothermal power generation projects in Turkey, with a total installed capacity of 464.17 MW.
  • Since 2021, Bank of China has issued a total of 4 green bonds, with a total bond amount of approximately US$5.4 billion.
  • Nearly 40 financial institutions from more than 10 countries and regions signed the "Belt and Road" Green Investment Principles in 2018 to promote the development and application of green financial tools, methods, and standards.
  • Chinese banks such as Bank of China, Development Bank, Export-Import Bank, Industrial and Commercial Bank of China, and China Construction Bank have issued green bonds to support sustainable development.
  • The Development Bank has provided loan support for green joint construction of the Belt and Road projects in Turkey, and has also supported the construction of the Mombasa-Nairobi Railway project.
  • Chinese banks have actively supported philanthropic undertakings, investing in areas such as education assistance, helping the disadvantaged, and cultural inheritance.
  • The Suez Economic and Trade Cooperation Zone in Egypt supported by the Development Bank has attracted 71 companies and directly created jobs for 3,500 people.

Statistics:

  • Total installed capacity of wind power, biomass, photovoltaic, and geothermal power generation projects in Turkey: 464.17 MW
  • Number of green bonds issued by Bank of China since 2021: 4
  • Total bond amount of green bonds issued by Bank of China since 2021: approximately US$5.4 billion
  • Number of financial institutions that signed the "Belt and Road" Green Investment Principles in 2018: nearly 40
  • Number of companies attracted to the Suez Economic and Trade Cooperation Zone in Egypt: 71
  • Number of jobs directly created in the Suez Economic and Trade Cooperation Zone in Egypt: 3,500

Sources:

  • SyndiGate Media Inc. (Syndigate.info)
  • Albawaba (Albawaba.com)

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