The China Development Bank (CDB), an ADFIAP member, hosted a seminar-workshop on Environmental Governance Standards (EGS) for Financial Institutions in China under the EU-Asia Pro Eco Programme at the Presidential Plaza Hotel Beijing on December 5 and 6, 2006. About 30 participants from 13 Chinese financial institutions and government agencies attended the event.
In his opening remarks for the forum, Mr. Zhao Jianping, Assistant Governor of CDB, emphasized the importance of financial institutions doing their part in protecting the environment. He mentioned the case for CDB which for many years has espoused sustainable finance that considers lending to projects which are both socially-responsible and environmentally-sound.
Dr. Stefan Agne, First Secretary of the EU Commission’s Delegation to China, echoed the role that banks and financial institutions play in the country’s drive to the path of sustainable development that includes environment protection.
In her speech, Dr. Feng Dongfang, Executive Director of the State Environmental Protection Administration (SEPA), cited that a financial policy relating to the environment has an influence on the government’s economic policy. She also mentioned several local initiatives ongoing in this regard.
Mr. Octavio B. Peralta, ADFIAP Secretary General, reported, among others, the focus of most Asian banks on cost-saving and risk mitigation benefits of environmental governance although they have yet to consider new business opportunities such as the development of “green financial products” in the area of renewable energy finance, carbon emission trading, cleaner technologies, etc.
The EGS is an 18-month, Euro 346,446 grant project to support ADFIAP’s “Greening of DFIs” project through an EU-Asia Environmental Partnership. The EGS aims to develop two environmental management tools and instruments at the bank level called the Internal Environmental Management System (IEMS) and the Environmental Risk Management (ERM), a set of concrete measures for integrating environmental issues in credit assessment procedures to bank clients.
The EU project partners include Germany’s UNEP/Wuppertal Institute Collaborating Centre on Sustainable Consumption and Production (CSCP) and the U.K.’s University of St. Andrews/Sustainable Development Research Center.
For more information on the EGS project, please visit https://www.egs-asia.com