GlobalData offers a comprehensive analysis of China Minsheng Banking, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on China Minsheng Banking‘s ESG performance. GlobalData’s company profile on China Minsheng Banking offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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China Minsheng Banking, a major Chinese bank, is attentive towards realization of China's goal of peaking carbon dioxide emissions before 2030 and reaching carbon neutrality before 2060, centering on green finance principles. It actively implements national policies, emphasizing carbon emission reduction, clean coal utilization, and financial support for manufacturing industries.The bank is actively involved in adopting green office operations and is taking adequate steps to reduce its carbon emissions. The company has revealed data related to scope 1 (direct emissions), scope 2 (energy indirect emissions), and scope 3 (other indirect emissions) emissions in its 2022 Environmental, Social and Governance Report.
In terms of emissions, the bank's greenhouse gas emissions mainly come from purchased electricity and fossil fuel combustion. The bank has reported its direct and indirect emissions, including exhaust emissions, nitrogen oxides, sulphur dioxide, and total greenhouse gas emissions. It has also calculated emissions per unit area. In 2022, China Minsheng Banking reported its total greenhouse gas emissions (scope 1 and scope 2) as 84,327.29 tonnes. While the direct emissions (scope 1) were recorded at 7,868.18 tonnes, its indirect emissions (scope 2) amounted to 76,459.12 tonnes.
The bank has already taken several steps to reduce its emissions and has achieved some notable results. It has implemented innovative products and models such as "Photovoltaic Loan" and "E-Grain Finance" to increase financial support to rural areas. The bank has also explored the model of "green + inclusiveness" and improved risk control capabilities. Additionally, it has boosted manufacturing strength and explored business cooperation in new energy vehicles and green energy.
To achieve its emission reduction targets, the bank has implemented various measures. It has focused on controlling fixed assets, improving institutional construction, and promoting green operation and low-carbon office practices. The bank has also integrated climate risk management into its five-year plan for green finance and implemented measures to respond to climate change.
Overall, China Minsheng Banking is actively working towards carbon reduction in its operations and has made progress in reducing its emissions. The bank has implemented various initiatives and measures to achieve its goals and has achieved positive results in terms of emission reduction. By taking steps to address climate change and reduce its carbon footprint, the bank is aligning itself with the national "Carbon Peaking and Carbon Neutrality" strategy and contributing to sustainable development.
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