Recently, the transformation finance demonstration case of Chongqing Bank has emerged from numerous cases and successfully selected as the typical case of "green finance" in Chongqing in 2023.
In order to effectively consolidate the national ecological security barrier in the western region, and make a good contribution to the "green finance", the Bank of Chongqing, the first "A+H"-listed city commercial bank in the western region and the Yangtze River economic belt, adheres to the ecological priority and the green development road, insists on guarding green with finance and promoting industrial transformation towards a greener direction, and fully engages in the construction of Chongqing green financial reform and innovation experimental zone.
The loan interest rate and product energy consumption are highly coupled with the financial assistance to reduce costs.
Under the guidance of the People's Bank of China Chongqing Branch, Chongqing Bank has leveraged its own advantages and innovatively landed a transformation finance service model.
Chongqing Changfeng Chemical Industry Co., Ltd. is located in the Changshou Economic Development Zone. It is a national "green factory" and a specialized, special and new "small giant" enterprise in the field of organic chemistry. The company adopts advanced carbon emission management methods to orderly reduce energy consumption. With the help of the enterprise carbon account provided by Chongqing Credit Reporting Co., Ltd., Chongqing Bank customizes the transformation finance service plan and issues a credit loan of 10 million yuan for the enterprise, with the loan interest rate linked to the product energy consumption intensity. When the enterprise reaches the transformation target value, it can enjoy a discounted interest rate of 20 BP. It is estimated that after the superimposed transformation loan interest rate subsidy policy, the financial cost will be reduced by tens of thousands of yuan at one time.
The successful practice of this business not only explores the transformation finance for banks, effectively solves the prominent difficulties in identifying transformation subjects and transformation activities of financial institutions, and truly promotes the transformation finance from theoretical research to specific financial services, but also provides a demonstration for local transformation and development, promotes Changshou District to take the organic chemical raw material manufacturing industry as the pilot, launches the first batch of transformation finance standards in Changshou, and further provides direction for traditional carbon-intensive industries such as chemical industry to steady transformation and technological innovation, exploring a path for regional transformation pilot.
To assist in achieving the "dual carbon" goal and create a green and sustainable development bank.
Chongqing Bank implements the spirit of the Central Financial Work Conference, actively promotes the development of green finance, and strives to build a development system for green finance, creating a green and sustainable development bank. As of the end of the first quarter of this year, the scale of green finance exceeded 45 billion yuan, with an average annual growth rate of over 30%, and won more than 10 awards such as the advanced green finance unit in Chongqing and the Global Sustainable Development Business Case Library.
It is worth mentioning that on the 11th "National Low-Carbon Day", Chongqing Bank's headquarters building was awarded the carbon neutrality certificate with a number of "001" jointly by Chongqing United Property Rights Trading Group and Sichuan United Environmental Trading Center. This is the first headquarters building in Chongqing that has achieved "carbon neutrality".
Recently, Chongqing Bank has successively issued multiple carbon emission reduction loans to cloud Yang photovoltaic power station, Yongchuan distributed photovoltaic power station, Beibei cement energy-saving and technological transformation projects, and it is estimated that the annual CO2 emission reduction after the projects are put into production will be about 2,085 tons.
Chongqing Bank is the first bank to establish a strategic cooperative relationship with the Chongqing Municipal Ecology and Environment Bureau to reduce carbon emissions. The bank continues to optimize the green finance management system, explore the establishment of a digital ESG rating system for corporate clients, and inject digital functions into the development of green finance.
The relevant person in charge of Chongqing Bank said:"under the guidance of regulatory authorities, Chongqing Bank will further implement the concept of green development, work harder to support the low-carbon transformation of traditional industries, promote the innovative development of green industries, protect the green waters and mountains with finance, and contribute to the construction of a beautiful Chongqing!"