Case study: How the Bank of Jilin works with its clients and customers to encourage sustainable practices
Established in October 2007 from the restructured City Commercial Bank of Changchun, the Bank of Jilin stands as the sole city commercial bank in Jilin Province. It employs 10,915 people and operates 364 outlets across nine cities and prefectures in Jilin Province, as well as in Shenyang and Dalian. The Bank of Jilin is committed to integrating social responsibility into its development strategies and business practices, earning widespread recognition for its contributions to local economic growth, consumer protection, rural revitalization, green finance development, and public welfare support. The Bank of Jilin is a signatory of the Principles for Responsible Banking (PRB) and is, accordingly, working with its clients and customers to encourage sustainable practices and enable sustainable economic activities. Tweet This!
This case study is based on the 2023 PRB Reporting and Self-Assessment Template by the Bank of Jilin, prepared in relation to its implementation of the PRB, that can be found at this link. Through all case studies we aim to demonstrate what ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.
Which Principles for Responsible Banking have been addressed?
The Principles for Responsible Banking addressed in this case are:
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- Principle 3: Clients and Customers
- Principle 4: Stakeholders
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- How the Bank of Jilin proceeded with stakeholder identification and consultation, and
- How the Bank of Jilin worked with its clients and customers to encourage sustainable practices and enable sustainable economic activities
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Stakeholder identification and consultation
Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.
During the impact analysis process, the Bank of Jilin proactively engaged policymakers from five departments, including the Department of Ecology and Environment, and collaborated with four civil society organizations to discuss the assessment results, addressing the most pertinent challenges and priorities for sustainable development in Jilin Province. Stakeholder groups were identified through a thorough stakeholder analysis. Moving forward, the Bank of Jilin plans to enhance its cooperation with various financial institutions in the province to explore, develop, and share new channels and models for green financial services. Additionally, the bank aims to establish university-enterprise cooperation platforms with provincial universities to offer industry-university-research cooperative education programs, promoting mutual advancement and progress across the industry, education, and talent chains.
How did the Bank of Jilin work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?
In its 2023 PRB Reporting and Self-Assessment Template the Bank of Jilin reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:
Retail banking is a core business line for the Bank of Jilin, which places significant emphasis on employee capacity building and consumer protection. The bank regularly conducts financial literacy activities and has established a robust mechanism for handling consumer complaints, acceptance, and feedback to fulfill its commitment to customer satisfaction.
Green finance remains a central focus of the bank’s business development and credit allocation. The Bank of Jilin actively supports Jilin Province’s ecological strength strategy by establishing a comprehensive green finance strategic system. This includes setting up a Green Finance Committee, formulating green action plans, guiding opinions on green finance, and creating special credit support policies. Additionally, the Bank of Jilin has developed a “4+3” green finance strategic system, which involves building a professional team, optimizing specific policies, conducting special assessments, offering exclusive services, developing green products, expanding green investments, and promoting green operations.
UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet
With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.
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The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.
References:
This case study is based on published information by the Bank of Jilin, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:
https://www.jlbank.com.cn/jlbank/gyjx/xndt/gg/2024061814420885947/2024061814411226873.pdf
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