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PSBC wins Best ESG award
PSBC wins Best ESG award
|China Post News|2022-07-29

In the ratings of “2022 Asia (ex-Japan) Executive Team” organized by Institutional Investor recently, the Postal Savings Bank of China (hereinafter referred to as PSBC) won the “Best ESG” award in the banks and non-bank finance sector of the Chinese mainland.

Institutional Investor’s ratings for "Asia (ex-Japan) Executive Team" have strict criteria. Many global institutional investors, highly professional and authoritative, participate in the ratings. So the survey results can largely reflect institutional investors’ recognition of the subject companies. This year, a total of 4,854 professional investors from 1,612 financial institutions participated in the voting of "Asia (ex-Japan) Executive Team". Institutional Investor separately counted buy-side, sell-side and combined votes to select the "Best" companies. PSBC winning the sell-side "Best ESG" award reflects that the capital market has recognized PSBC's achievements in its environmental, social and governance (ESG) efforts.

In recent years, PSBC has been actively supporting the United Nations’ Sustainable Development Goals (SDGs) of the 2030 Agenda for Sustainable Development and the Paris Agreement. It has promoted sustainable development from corporate governance, policies and systems, product innovation, incentive mechanism, risk management, information disclosure and other aspects, and put forward the proposition of "green leads to a better life". It has vigorously developed sustainable and green finance as well as climate financing, and supported biodiversity conservation. As of the end of the first quarter of 2022, PSBC’s balance of green loan reached 402.537 billion yuan (about 59.59 billion US dollars). PSBC has been granted the title of "Model Institution in Green Banking Evaluation" by China Banking Association for many consecutive years. In 2021, it won MSCI (Morgan Stanley Capital International)’s ESG rating of A, a leading position in China’s banking industry. On the "Top 1000 World Banks 2022" list recently released by the British magazine The Banker, PSBC has risen from 15th to 13th according to the ranking of Tier 1 capital by the end of 2021.

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