November 3, 2008—IFC client Industrial Bank recently adopted the Equator Principles, becoming the first financial institution in China to adopt them. This is a major breakthrough in the development of "green" banking in China, which promotes innovative products to support energy efficiency for small and medium enterprises. It also confirms the bank's commitment to sustainability and leadership in corporate social responsibility.
The Equator Principles are voluntary project financing guidelines based on IFC's social and environmental standards. Industrial Bank's adoption of the principles lends support to China's Green Credit Policy, which helps improve compliance with the country's environmental regulations.
IFC is also partnering with the Chinese government and banks to introduce good environment and social practices, as well as support the transformation of China's financial sector toward sustainability.
Read the related press release...
For more information contact:
Andrew Mak
IFC Communications Officer
Hong Kong, China
Phone: +852 2509 8110
E-mail: AMak@ifc.org
