Case study: How Bank of Beijing works with its clients and customers to encourage sustainable practices

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.

Bank of Beijing has identified seven key stakeholders: governments, regulators, customers, investors, employees, the public, and the environment. It actively engages with these stakeholders through research and interviews, communicating and cooperating responsibly. The Bank places a high value on the issues that concern stakeholders and has identified 14 significant ESG issues relevant to these groups, in alignment with regulatory requirements and international standards such as GRI guidelines, the SDGs, and PRB.

Through thorough dialogue with stakeholders, the Bank has gained insights into their expectations and requirements, integrating these ESG concerns into its corporate governance framework within the context of its strategic management plan. Bank of Beijing has established an ESG management system that adheres to both internal and external guidelines, developed a three-year ESG action plan, and advanced the modernization of its corporate governance capacity and risk governance system. Furthermore, the Bank has published an ESG report, committed to fulfilling and balancing its political, economic, social, and environmental responsibilities.

How did Bank of Beijing work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?

In its 2022 Social Responsibility & ESG Report Bank of Beijing reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

Bank of Beijing remains committed to delivering exceptional customer service, guided by the principle of “our sincerity, your trust”. By leveraging the power of finance, the Bank bridges the government’s vision for ” smart government affairs ” with the people’s pursuit of a “better life”, particularly in areas such as financial services for new citizens and elderly care.

In pursuit of its green finance goals, Bank of Beijing has established a distinctive brand, “Green Finance+”, and focused on four key product lines: “Green Finance Loan”, “Green Finance Bond”, “Green Finance Chain”, and “Green Finance Ecosystem”. This strategic initiative aims to enhance and expand the Bank’s green finance business, solidifying its position as a leader in this area.

To further support the transition to a low-carbon economy, Bank of Beijing has invested in the “carbon neutrality” sector, making it possible for ordinary investors to participate in this area. Additionally, it has developed a digital and low-carbon service brand, “Jingtanbao”, to track and record the environmental footprint of enterprises. The Bank has also introduced the ChinaBond – BOB Wealth Management Green Development Risk Parity Index, providing investors with a benchmark for evaluating and comparing the performance of green-themed investments. Furthermore, Bank of Beijing has launched ESG-themed wealth management products, catering to the growing demand for sustainable investment options.

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.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

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 Bank of Beijing, 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://cdn-www.bankofbeijing.com.cn/images/1656245638929514496.pdf

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