Notice of the China Banking Regulatory Commission on Key Performance Indicators of Green Credit Implementation
Key performance indicators (KPIs) for local CBIRC offices, as well as policy banks and other Chinese financiers.
Offers specific indicators to measure and report on financiers' implementation of green credit.
- Publicly promise to follow international practices in overseas projects.
- Charge their board of directors or supervisory board with the responsibility of crafting a green credit development strategy and monitoring its implementation.
- Submit green credit implementation self-assessments to the China Banking and Insurance Regulatory Commission (CBIRC).
- Establish and improve environmental and social risk management policies.
- Develop environmental and social risk assessment criteria for developers and contractors.
- Assess and classify companies' environmental and social risks.
- Develop checklists for environmental and social performance and compliance.
- Identify compliance risks for different sectors.
- Include clauses that require companies to submit an ESIA report and strengthen environmental and social risk management in contracts for higher-risk projects.
- Abide by national environmental laws, industrial policies, and sector entry policies.
- For funding allocation, define the scope of environmental and social due diligence according to the characteristics of projects' sectors, companies, or locations.
- Deny funding to companies whose environmental and social performance fails to meet compliance requirements.
- Urge companies to strengthen environmental and social risk management.
- Strengthen environmental and social risk management for overseas projects and ensure companies abide by applicable laws and regulations on environmental protection.
- Consider hiring an eligible, independent third party or professional service to assess environmental and social risks.
China Banking Regulatory Commission (CBRC) and China Insurance Regulatory Commission (CIRC) (now China Banking and Insurance Regulatory Commission (CBIRC))