China Minsheng Banking Corp Ltd

Lobbying Governance

AI Extracted Evidence Snippet Source

CMBC Hong Kong's Green Finance Working Group (GFWG) will be responsible for the selection and evaluation of eligible green projects. CMBC Hong Kong will follow the environmental and social risk assessment criteria and relevant compliance requirements by China Minsheng Banking Corp., Ltd., (CMBC) to identify, evaluate and manage environmental and social risks associated with eligible projects. Sustainalytics considers the risk management processes to be adequate and the project selection process to be in line with market practice. [...] CMBC Hong Kong's Asset and Liability Management Department will be responsible for managing net proceeds issued under the Framework, with proceeds deposited in the CMBC Hong Kong's general funding accounts. CMBC Hong Kong will maintain a Green Finance Register to monitor and track the allocation of proceeds into eligible projects. Pending full allocation, unallocated proceeds will be temporarily managed according to CMBC's standard liquidity policy in cash or cash equivalents. This is in line with market practice. [...] CMBC Hong Kong commits to report on the allocation and impact of proceeds in a standalone report or on its website on an annual basis until full allocation of the proceeds. Allocation reporting will include the list of eligible green projects, the amount of proceeds allocated to each eligible green project category, share of financing versus refinancing, selected examples of projects financed, amount of unallocated proceeds and when possible, descriptions of the eligible green projects financed, such as project locations, amounts allocated, etc. CMBC Hong Kong is committed to reporting on relevant impact metrics on a best-effort basis and subject to data availability and confidentiality. Sustainalytics considers CMBC Hong Kong's allocation and impact reporting to be aligned with market practice.

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