On November 22, the 21st Annual Meeting of the International Finance Forum (hereinafter referred to as IFF), also called the F20 Summit, was held in Hong Kong. At the meeting, the results of the 5th IFF Global Green Finance Award were unveiled, and the Postal Savings Bank of China (hereinafter referred to as PSBC) won the Annual Award of the IFF Global Green Finance Award.

The International Financial Forum (IFF) is an independent international organization based in Beijing. It was founded in October 2003 by G20 countries and international organizations such as the United Nations, the World Bank and the International Monetary Fund. It is a high-level permanent institution for dialogue and multilateral cooperation in the field of global finance. The IFF Global Green Finance Award includes the Annual Award and the Innovation Award. PSBC won the Innovation Award in 2021 and the Annual Award this year, which reflects a high recognition and affirmation from the international community for PSBC’s innovation in its green finance practice.

In recent years, PSBC has actively developed sustainable finance, green finance and climate financing, and has pressed ahead with green finance in the aspects of corporate governance, policies and procedures, incentive mechanisms, product innovation, risk management, technology empowerment and green operations. By the end of September 2024, PSBC’s balance of green loans had reached 732.096 billion yuan (about 100.858 billion US dollars), an increase of 14.77 percent over the end of the previous year. And cooperating with the Institute of Public and Environmental Affairs (IPE), PSBC had carried out corporate carbon accounting service for more than 10,000 clients. In 2024, PSBC was rated AA by MSCI ESG Ratings, becoming an industry leader in the banking sector.