Recently, through the official interaction of its “Jinjing” credit risk monitoring system with the Blue Map environmental database of the Institute of Public & Environmental Affairs (hereinafter referred to as IPE), Postal Savings Bank of China (hereinafter referred to as PSBC) established a total customer environmental and climate information database to help solve the problems of fragmented distribution, difficult collection and limited sources of customers’ environmental and climate data.
Relying on the dynamic and real-time monitoring environmental and climate risk follow-up evaluation model, PSBC makes it possible to carry out dynamic monitoring and evaluation of customers’ environmental and climate risks, as well as their visual and quantifiable management, effectively improving its environmental and climate risk management competence, and contributing to the green and low-carbon development of the economy and society. Meanwhile, PSBC adopts the advanced green supply chain mode of IPE to facilitate its customers to repair their bad environmental credit records, and to help them consistently pay attention to their environmental behaviors and actively fulfill their primary responsibility of preventing environmental pollution. Through measuring customers’ emissions and energy usage data, PSBC encourages its customers to disclose their environmental information, formulate effective environmental protection measures, and promote energy conservation, emission reduction and industrial upgrading. Up to now, PSBC has successfully facilitated more than 200 customers to repair their bad environmental credit records and practice green and low-carbon development.
In recent years, PSBC has been actively practicing the philosophy of green development, earnestly implementing national policies and regulatory requirements, vigorously applying financial technologies such as big data, cloud computing, blockchain, and machine learning, and incorporating environmental and climate risks into the credit risk management system, so as to build a credit risk monitoring and early warning system with hierarchical management and level-by-level reporting to achieve the early identification, warning, disposal and resolution of the environmental and climate risks. By the end of September 2020, the balance of green loans of PSBC had reached 261.796 billion yuan (about 40.683 billion US dollars).
In the next step, PSBC will continue to explore the application of cutting-edge technologies in the green finance field, continuously enrich the business scenarios of fintech-empowered green finance, actively solve problems such as the environmental and climate information asymmetry between the bank and its customers, further improve the quality and efficiency of green finance in boosting green development, helping to achieve the goals of peak carbon dioxide emissions and carbon neutrality.