TRANSBANK JOINED THE GREEN INVESTMENT PRINCIPLES (GIP) FOR THE BELT AND ROAD INITIATIVE
Green Investment Principles (GIP) is a set of principles for greening investment, projects and infrastructure operations in the Belt and Road. It was co-initiated by the “Green Finance Committee of China Society for Finance and Banking” and the “City of London Corporation’s Green Finance Initiative”, with the participation of other institutions. As of March 15, 41 global institutions from 16 countries and regions have joined as signatories to GIP for the Belt and Road.
The GIP is a major initiative to signatories to share experiences on sustainability transition and develop impact projects and investments in environmentally friendly and climate resilient manner. The GIP signatories are expected to incorporate the principles into their corporate strategy and decision-making processes and are invited to report regularly on their performance to the GIP Secretariat.
The GIP includes 7 principles at 3 levels of Strategy, Operations, and Innovation:
Principle 1: Embedding sustainability into corporate governance
Principle 2: Understanding Environmental, Social, and Governance Risks
Principle 3: Disclosing environmental information
Principle 4: Enhancing communication with stakeholders
Principle 5: Utilizing green financial instruments
Principle 6: Adopting green supply chain management
TransBank has been systematically conducting Environmental and Social (E&S) risk assessments on its loan processes in accordance with the Bank’s E&S policy and E&S risk assessment on loan operations policies. With this said, we are pleased to share that TransBank received a score of “B+” on ‘ToC Implementation Assessment 2021’ initiated by the Mongolian Sustainable Finance Association (MSFA), Bank of Mongolia (BoM) and International Finance Corporation (IFC) further improving our previous score.