As we all know, environmental economic policy, as a policy means that meets the requirements of environmental protection and follows the laws of market economy, involves all aspects of social production and life. It is far from enough to rely on the efforts of one or two departments to make such a policy really effective in social development and economic construction.
Taking green credit as an example, as an important environmental and economic policy, it is not only an important means for environmental protection departments to control pollution from the source of production and expand reproduction, but also an important choice for commercial banks to survive and develop. Financial institutions are duty-bound to promote the development of green credit.
First of all, developing green credit is the social responsibility of financial institutions to adapt to the requirements of the times. Because financial institutions have no production behavior, they usually have little direct impact on the environment, and their social responsibilities are rarely mentioned. However, in fact, both investment and trade activities will generate environmental and social risks, and the impact of financial institutions on the environment can be extended and reflected in the production and practice of their customers. Obviously, financial institutions will give loans to enterprises with high pollution and high energy consumption to support their production and operation activities, which will increase the production of pollutants; Support for cleaner production enterprises will greatly reduce the generation of pollutants. Therefore, although financial institutions only have an indirect impact on the economy, society and natural environment, if banks can actively manage this impact, they can more effectively support the sustainable development of the economy.
Secondly, developing green credit business is also a great business opportunity for commercial banks. Projects such as energy efficiency, renewable energy, carbon financing, biodiversity, cleaner production and sustainable supply chain financing have become new economic growth points in the world. Therefore, credit and financing are also important development opportunities that financial institutions should and must seize. "Equator principle" is a set of spontaneous guiding principles for managing environmental and social problems in project financing credit. Projects funded by institutions that have signed commitments will be implemented in a socially responsible manner and reflect good environmental management practices. The ranking of Mizuho Industrial Bank in Japan rose from 18 in 2003 to the third place in 2006, which is entirely due to its adoption of the Equator principle from 10 in 2003 and its active development of corresponding financing and credit projects.
Developing green credit can also make financial institutions avoid more risks. On the one hand, this kind of risk comes from the loan enterprise. If enterprises are punished for pollution, lose their production capacity or increase the cost of production projects, financial institutions will face the risk of credit default. Similarly, the value of collateral may be reduced by corporate pollution, such as land pollution. In fact, financial institutions may also face greater risks in terms of reputation.
Similar incidents have occurred abroad. Some international financial institutions have been questioned and criticized by the public and some environmental groups for ignoring environmental factors and making improper loans and investments. Citibank in the United States was protested by environmental organizations for supporting projects that led to deforestation in the Amazon basin. Environmental groups wrote on a giant balloon: "Banks become rich, but let the earth pay the bill." The International Finance Corporation of the World Bank Group has also been widely reported and criticized by the media for failing to consider social and environmental factors in the financing project of the dam in Chile.
Green credit has just started in China, and it is still facing the constraints of multiple factors such as knowledge, foundation and information. Although some financial institutions have launched green credit, a considerable number of financial institutions have not yet started, or even are in a wait-and-see state.
Therefore, as a financial institution, it is necessary to further enhance the initiative of green credit work and actively assume social responsibilities. It must be clearly recognized that it is not enough to develop green credit only by relying on the strength of environmental protection or financial institutions themselves. Only by cooperating with each other, promoting together, innovating working methods, establishing and improving relevant systems and mechanisms, unblocking information communication channels, actively communicating with environmental protection departments, and solving problems from the mechanism and technology can we really promote the rapid development of green credit and achieve the goal of environmental economic policies regulating corporate environmental behavior.
While deepening their knowledge and understanding, financial institutions should also actively learn from international experience and formulate procedures and rules that conform to their own institutional characteristics. By the end of 2007 1 1, 56 financial institutions around the world had adopted the equator principle, and all of them had successful experience in environmental project approval and management. China's financial institutions should learn from successful experience as soon as possible, seize the good opportunity of energy conservation and emission reduction in China, carry out green financing and credit projects, and promote sustainable economic development.
In order to improve the knowledge and understanding of green credit work and better carry out green credit, financial institutions should also strengthen employee training and improve the quality of employees. The training content should include not only the significance, implementation steps, international advanced experience and successful cases of green credit, but also the related contents of environmental protection and sustainable development. Only by letting employees fully understand its significance can we really attach importance to it in our work and achieve the expected goal better.
The healthy development of green credit is inseparable from the role of financial institutions.