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[Learning from the Two Sessions and Building New Merits]Bank of Shanghai: Deeply exploring green finance, a major article “loan” drives the new development of green industries

[Learning from the Two Sessions and Building New Merits]Bank of Shanghai: Deeply exploring green finance, a major article “loan” drives the new development of green industries

This year’s government work report of the National Two Sessions pointed out that we should vigorously develop a green and low-carbon economy, accelerate the formation of a green and low-carbon supply chain, and create a green and low-carbon development highland. Based on the overall situation of national green development, the Bank of Shanghai actively serves the country’s “double carbon” goals, continues to expand the scale of green loans, optimizes the green credit structure, and strives to do a good job in green finance.

  Innovative products

  “One household, one policy” precise service

The rapid development of the distributed photovoltaic power generation industry is inseparable from the full support of financial institutions such as the Bank of Shanghai.

“We are a ‘big consumer’ of electricity, and now we use our own electricity to ensure the orderly development of production and operations.” said the person in charge of a casting company in Ningbo. With the support of Ningbo Jiangyou New Energy Co., Ltd., the company’s 2.1 MW distributed photovoltaic power station successfully connected to the grid for power generation. It is estimated that the project will generate 2.28 million kilowatt-hours of solar power in the first year, which is equivalent to reducing 2,273 tons of carbon dioxide emissions.

In the context of dual carbon goals, Ningbo Jiangyou New Energy has achieved rapid development in recent years. “We were building multiple distributed photovoltaic power station projects at the same time. We lacked the funds to purchase raw materials and equipment in the short term, and we were really at a loss at that time.” said Zhang Hongjiang, general manager of Ningbo Jiangyou New Energy.

After learning about the situation, the Ningbo Branch of the Bank of Shanghai took the initiative to visit the company many times to learn about the company’s situation and inspect projects under construction, and customized mid- and long-term financing products for the company.

This medium- and long-term financing product breaks through the traditional mortgage model. Through a series of technical means and industrial research, it carries out project grading and risk control. It can effectively solve the financing problems of small and micro green energy-saving service companies in the service manufacturing industry and realize A number of inclusive small and micro projects in green energy-saving application scenarios have been implemented.

With the support of Shanghai Bank, Ningbo Jiangyou New Energy Company successfully obtained funds to purchase raw materials and equipment. According to preliminary calculations, after excluding loan interest, the loan project achieved good positive returns in the first year.

  Turn green into gold

  Drawing a new picture of green and low-carbon

The Bank of Shanghai practices the concept of green development, polishes its “Green Tree City Bank” business card, serves the green and low-carbon transformation of the economy and society, and achieves high-quality development.

Focusing on green and low-carbon “new productivity” fields such as clean energy and green low-carbon, Bank of Shanghai continues to expand the scale of green loans and optimize the green credit structure. For projects and enterprises with significant carbon emission reduction benefits, we will continue to promote special varieties such as carbon neutral bonds and sustainable development-linked bonds, and carry out pilot trials in carbon emission reduction performance-linked loans and ESG performance-linked loans.

Focusing on the construction of low-carbon cities, the Bank of Shanghai actively cooperates with the government-led green and low-carbon industry promotion work and green finance pilot projects; actively connects with the green financial service platform, climate investment and financing project library and other “industry-finance integration” pilot projects, and serves as key green construction projects. Provide carbon emission reduction financing services; continue to participate in the construction of the carbon inclusive system and personal carbon account work in Shanghai.

At the end of 2023, the balance of green loans of Bank of Shanghai achieved rapid growth, with an increase of more than 50% from the beginning of the year. It not only effectively helped enterprises reduce costs and increase efficiency, but also promoted energy conservation and carbon reduction in the entire society, helping to achieve the “double carbon” goal.

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