Best green regional bank 2018
Bank of Nanjing
Of the regional banks in China, Bank of Nanjing in the capital of Jiangsu province stands out from the crowd. The bank has lent Rmb23.7 billion ($3.7 billion) in green finance to support enterprises in their efforts to promote energy conservation, environmental protection and to reduce emissions of pollutants. Its chair is Hu Shengrong.
The bank issued the largest green bond in Jiangsu in April 2017, raising Rmb5 billion through the interbank bond market. It subsequently financed a number of projects that dramatically reduced pollution emission, cutting 874 tons of ammonia, 16,700 tons of dust, 17,938 tons of carbon dioxide and 1,069 tons of sulphur dioxide since April 2017.
The bank has led the charge into solar energy in the province. In 2017, it introduced photovoltaic power generation project loans specifically to encourage the building of photovoltaic power plants. It provided medium-term and long-term loans to solve the funding gap in the construction process. So far, it has invested Rmb210 million in supporting the construction of a number of photovoltaic power plants.
The bank has also introduced a number of products that support local regulators in their efforts to fight pollution. It recently introduced a mortgage credit for emission rights, using financial instruments to encourage companies to actively implement lower emission programmes.
At a regional level, the bank is working with regulators not only in Jiangsu, but also in other provinces to promote green finance.
The bank has also introduced products that make it an active player in the national unified carbon market, established by the central government last year. It helped client enterprises revitalize stock assets and tailored carbon quota pledged products that can be resold in the open carbon market. Currently, it is cooperating with local environmental exchanges such as the Shanghai Environment Exchange and the Beijing Environment Exchange on the carbon credit pledge business.