曾 刚，上海金融与发展实验室首席专家、主任 陈小辉，上海金融与发展实验室特聘研究员 来 源：《中国银行业》2025年第1期 【引言】气候变化带来的物理风险和转型风险对商业银行的资产质量和业务稳定性构成威胁。商业银行 应建立气候风险评估体系，将气候相关风险纳入全面风险管理框架中。同时，商业银行在开展气候投融 资时，应严格审查项目的环境和社会影响，确保资金投向符合可持续发展原则。 【正文】 随着温室气体排放诱发的气候风险日益加剧，缓解和适应气候变化成为现实而紧迫的任务。在此背景 下，以缓解和适应气候变化为目的的气候投融资成为落实这一任务的重要机制。在实践中，这一应对气 候变化的重要手段，也为商业银行实现可持续发展提供了重要机遇。 我国气候投融资发展初见成效 气候投融资，国际层面也常常称之为气候金融（ClimateFinance）。联合国环境规划署（UNEP）将气候 投融资定义为"与气候变化相关，用于减少碳排放的投融资活动"。2020年10月，生态环境部和国家发展 改革委等联合印发了《关于促进应对气候变化投融资的指导意见》（以下简称《气候投融资指导意 见》），该文件将气候投融资界定为"为实现国家自主贡献目标和低碳发 ...

江苏银行股价报10.98元，较前一交易日下跌0.19元，跌幅1.70%。开盘价为11.18元，最高触及11.20 元，最低下探10.90元，成交量为180.66万手，成交金额19.84亿元。 江苏银行属于银行板块，是江苏省内重要的城市商业银行之一。该行近年来积极布局绿色金融领域，响 应国家双碳战略，加大对环保、清洁能源等领域的信贷支持力度。 在政策层面，近期七部门联合发布《关于金融支持新型工业化的指导意见》，提出完善绿色金融激励约 束机制，推动金融机构开发支持绿色制造的金融产品。江苏银行作为区域性银行代表，正通过绿色信贷 等方式支持地方产业绿色转型。数据显示，2025年二季度末我国本外币绿色贷款余额达42.39万亿元， 比年初增长14.4%。 资金流向方面，江苏银行当日主力资金净流出2.03亿元，占流通市值的0.1%。近五个交易日累计净流出 5.04亿元，占流通市值的0.25%。 风险提示：市场有风险，投资需谨慎。 ...

Core Viewpoint - The emphasis on promoting green and low-carbon economic and social development is crucial for achieving high-quality development, as highlighted by the Chinese leadership [1] Group 1: Green Finance Development - Agricultural Bank of China (ABC) Beijing Branch has actively implemented new development concepts, focusing on green finance innovation and supporting carbon peak and carbon neutrality goals [1] - As of June 2025, the green credit balance of ABC Beijing Branch exceeded 230 billion yuan, accounting for over 30% of total loans, with investments in clean energy, green transportation, and green manufacturing [1] - The bank aims to create a vibrant and sustainable green financial ecosystem to support the capital's green low-carbon development [1] Group 2: Support for Public Transportation - ABC Beijing Branch has expanded its cooperation with Beijing Investment Group from 2 to over 20 rail lines, providing significant financial support exceeding 60 billion yuan [2] - The collaboration has contributed to improving air quality and beautifying urban environments through enhanced public transportation infrastructure [2] Group 3: Support for Urban Sub-center Development - The Beijing Urban Sub-center is positioned as a national green development demonstration zone, and ABC Beijing Branch has established a "Green Finance Innovation Service Center" to support its development [3] - The bank has provided diversified financial services for key projects in green buildings and clean energy, with a green credit balance exceeding 9 billion yuan as of June 2025 [3] Group 4: Financial Product and Service Innovation - ABC Beijing Branch has innovated financial products and services, including the rapid issuance of "two new" green bonds, which are expected to reduce CO2 emissions by 240,700 tons annually [6] - The bank has established a comprehensive green financial product service system to improve financing conditions for enterprises and support projects aligned with national green transition guidelines [7] Group 5: Commitment to Sustainable Development - ABC Beijing Branch is committed to enhancing its own low-carbon transformation while providing quality financial support to green low-carbon enterprises [7] - The bank promotes green practices internally, including the construction of green branches and advocating for low-carbon operations among employees [7] - The bank's leadership emphasizes the importance of sustainable development and the pursuit of carbon neutrality goals as part of its long-term strategy [8]

Core Viewpoint - China is accelerating the optimization of industrial structure and promoting a comprehensive green transition in its economy and society, aiming to enhance the proportion of green low-carbon industries in the overall economy and establish a high-quality development path that prioritizes ecology, conservation, and green low-carbon practices [1] Group 1: Green Economic Transformation - Since 2012, China has supported an average economic growth of over 6.1% with an average energy consumption growth rate of 3.3%, establishing the world's largest clean power and clean steel production systems [1] - China has built the largest and fastest-growing renewable energy system globally and has created the largest carbon trading market for greenhouse gas emissions, which is operating steadily [1] Group 2: Regional Development Strategies - China has positioned regional coordinated development as a major national strategy, promoting significant regional initiatives such as the coordinated development of Beijing-Tianjin-Hebei, the Yangtze River Economic Belt, and the Guangdong-Hong Kong-Macao Greater Bay Area [1] Group 3: Green Lifestyle Promotion - The concept of a green lifestyle emphasizing simplicity, moderation, and health is gaining popularity across China, with various regions adopting green consumption practices [1] Group 4: Economic Models for Ecological Protection - The report outlines three economic transformation paths: "Protecting Green for Wealth," "Gathering Green for Wealth," and "Borrowing Green for Wealth," which have led to various successful practices and development models over the past 20 years [2] - "Protecting Green for Wealth" focuses on ecological protection and restoration as a prerequisite for economic returns through government-led compensation and policy incentives [2] - "Gathering Green for Wealth" emphasizes the development of green industries through technological innovation and brand building, transforming ecological resources into sustainable economic models [2] - "Borrowing Green for Wealth" promotes the development of green markets and finance, facilitating the market circulation of ecological resources [2] Group 5: Green Finance Development - China has established a multi-level green finance product and market system, leading the world in green credit and green bond issuance [3] Group 6: Global Ecological Civilization Contribution - The concept of "Green Mountains and Clear Water are Gold and Silver Mountains" serves as a guiding principle for global ecological civilization, addressing deep-seated contradictions in development and protection [4][5] - China actively participates in global climate governance, providing stability and support for developing countries in addressing climate change [5][6] - In 2024, China is expected to contribute the largest share of the 585 GW of new global renewable energy capacity, significantly reducing the costs of wind and solar power generation [6]

Group 1 - The issuance of green bonds in China has declined significantly, with a 14.96% decrease in quantity and a 46.75% decrease in amount in the first half of 2024 compared to the previous year, marking a consecutive decline since 2023 [1][3] - The total number of green bonds issued in China in 2023 was 479, reflecting a year-on-year decrease of 15.67% [1] - Green credit remains the dominant channel for ESG investment by banks, accounting for over 80% of the total ESG investment scale of 33.06 trillion yuan as of Q3 2023 [2][3] Group 2 - The structure of green bond issuance is heavily skewed towards state-owned enterprises, with only 21 out of 142 issuers being non-state-owned in the first half of 2024 [3] - The scale of green credit in China has expanded from 8.23 trillion yuan at the end of 2018 to 28.58 trillion yuan by Q3 2023, maintaining the largest global share [2] - ESG-themed wealth management products in banks are still in the experimental stage, with a total balance of approximately 188 billion yuan as of June 2024, compared to over 500 billion yuan for public funds [4] Group 3 - The lack of standardized ESG information disclosure and regulatory frameworks poses challenges for banks in diversifying their ESG investment offerings [6][7] - The current market environment has led banks to be more cautious regarding their capital status, limiting the channels and supply of ESG investments [6] - The phenomenon of "greenwashing" is prevalent, with 50% of surveyed institutions acknowledging its common occurrence, highlighting the need for improved transparency in ESG products [8] Group 4 - Recent policies aim to enhance support for transition finance and green financing costs, encouraging banks to guide credit resources towards green projects [9] - Innovations in ESG credit services are being introduced by some banks, such as unique loan products for carbon credits and environmental projects [11] - The potential for direct financing in the green sector is expected to rise from 10% to 40% as the industry evolves, indicating a promising outlook for green finance investments [11]

Group 1 - The People's Bank of China and other departments issued guidelines to support new industrialization through financial means, focusing on key technology breakthroughs and long-term financing [1][12][14] - Financial institutions are encouraged to provide support for core technology breakthroughs, including green channels for financing through stock issuance and bond offerings [1][18] - Emphasis on promoting first sets of equipment and materials with increased financial backing [1] Group 2 - Capital investment in hard technology should be patient, with initiatives like monthly investment roadshows and nurturing of specialized small and medium enterprises for listing [2][20] - High-level talent entrepreneurship will receive comprehensive financial services, including credit and financial advisory [2][20] Group 3 - Traditional industries will see diversified financing channels, with banks increasing credit support for high-end, intelligent, and green transformations [3][25] - Companies can utilize financing leasing to update equipment and can securitize related debts [3][26] Group 4 - Emerging industries such as information technology, new energy, and biomedicine will have access to multi-tiered capital markets for financing [4][32] - Long-term funds from government investment funds and insurance will focus on future manufacturing and energy sectors [4][32] Group 5 - Financing for small and medium enterprises will reduce reliance on guarantees, utilizing data and asset credit for financing services [5][41] - A national credit information platform for small and micro enterprises is being established to facilitate first-time borrowers [5][41] Group 6 - Financial tools will be aligned with green transformation, supporting high-carbon industries in their transition to low-carbon projects [6][35] - Green credit and bonds will be directed towards environmental protection and energy-saving initiatives [6][36] Group 7 - Digital infrastructure projects like 5G and industrial internet will receive long-term loans and financing through leasing and asset securitization [7][39] - Banks are encouraged to build digital platforms for one-stop services in financing and settlement [7][39] Group 8 - Financial institutions must monitor fund usage to prevent misuse and ensure risk management [8][73] - Joint assessment of industrial and financial risks will be implemented to share high-risk information promptly [8][73]

Core Viewpoint - The People's Bank of China, along with several government departments, has issued guidelines to support the new type of industrialization through financial means, aiming to enhance the competitiveness of the manufacturing sector and promote its transformation towards high-end, intelligent, and green development [1][2][9] Financial Support for Industrialization - The guidelines aim for a mature financial system by 2027 that supports the high-end, intelligent, and green development of the manufacturing industry, with a focus on increasing the number and scale of bond issuances and equity financing [1][2] - Emphasis is placed on market-oriented and legal principles, with a focus on preventing excessive competition while promoting industrial upgrades [1][2] Enhancing Technological Innovation and Supply Chain Resilience - The guidelines prioritize enhancing technological innovation capabilities and supply chain resilience, proposing specific measures for key industries such as integrated circuits and medical equipment [2][3] - A "technology-industry-finance integration" plan is introduced to guide social capital towards early-stage hard technology projects [2] Supporting Traditional Industry Upgrades - Financial institutions are encouraged to optimize credit policies to support the transformation of traditional manufacturing industries towards high-end, intelligent, and green development [4] - The guidelines advocate for diverse financial support for digital transformation, particularly for small and medium-sized enterprises [4] Green and Low-Carbon Transition - The guidelines highlight the importance of establishing a financial standard system to support the green and low-carbon transition of high-carbon industries, promoting green credit and green bonds [5] - Financial institutions are encouraged to utilize technologies like big data and AI to enhance service efficiency in the digital economy [5][6] Policy Coordination and Implementation Assurance - The guidelines call for improved financial services for industrial transfers and enhanced cross-border financial service convenience [7][8] - A cross-departmental coordination mechanism is proposed to ensure effective implementation of the guidelines, with a focus on risk prevention and monitoring [8] Long-term Financial Mechanism Development - The implementation of the guidelines is expected to create a batch of internationally competitive manufacturing enterprises, facilitating China's transition from a manufacturing giant to a manufacturing power [9] - A market-oriented long-term mechanism is needed to enhance the interaction between finance and industry, ensuring that market forces play a decisive role in resource allocation [9]

Group 1 - The latest stock price of Zhengzhou Bank is 2.11 yuan, reflecting an increase of 0.03 yuan or 1.44% compared to the previous trading day's closing price [1] - The bank's opening price was 2.09 yuan, with a highest price of 2.12 yuan and a lowest price of 2.08 yuan on the same day [1] - The trading volume reached 1,360,653 hands, with a total transaction amount of 286 million yuan [1] Group 2 - Zhengzhou Bank is categorized as a regional commercial bank, primarily engaged in commercial banking services, including corporate banking, retail banking, and funding operations [1] - As of the end of 2024, the bank's green credit balance doubled compared to the end of the previous year [1] Group 3 - On August 5, the net outflow of main funds from Zhengzhou Bank was 6.84 million yuan, with a cumulative net outflow of 12.69 million yuan over the past five days [1]

Group 1 - The core viewpoint emphasizes the proactive financial support initiatives in Ulanqab City aimed at enhancing the development of enterprises through innovative financial service models and targeted policies [1][4] Group 2 - A platform has been established to facilitate communication between enterprises and financial institutions, achieving 100% coverage of key financing needs with a total loan issuance of 1.322 billion yuan [1] - Monthly government-financial-enterprise matching activities have been organized, resulting in financing intentions of 17.092 billion yuan and credit amounts of 4.592 billion yuan [1] Group 3 - Innovative guarantee models have been developed to assist small and micro enterprises, with a total of 51 million yuan loaned to 11 enterprises through the collaboration of the municipal financing guarantee company and banks [2] - As of June, the financing guarantee company has added 105 new projects amounting to 506 million yuan, with 202 projects under guarantee totaling 926 million yuan [2] Group 4 - Ulanqab City has introduced tailored financial service plans for specific industries, utilizing supply chain finance and green credit to address financing challenges [3] - The iron alloy industry has received 5.042 billion yuan in financing, supporting over 90 enterprises through an innovative supply chain financing model [3] - Green credit initiatives have provided 743 million yuan in loans for six renewable energy projects, aiding the transition to sustainable energy [3] - A special service team has been established to assist small and micro enterprises in overcoming financing difficulties, utilizing tax records for credit assessments [3]

7月31日晚，青岛银行（002948）披露的2025年半年度业绩快报显示，2025年上半年，青岛银行经营规 模、效益、质量稳步提升，继续保持良好经营业绩。 核心指标攀升，资产质量持续优化 业绩快报显示，从发展规模看，青岛银行规模稳健提升。截至6月末，青岛银行资产总额为7430.28亿 元，较上年末增长7.69%；客户贷款总额为3684.06亿元，较上年末增长8.14%；客户存款总额为4661.40 亿元，增幅为7.9%，资产负债结构持续优化。 作为深耕海洋经济的特色银行，青岛银行率先成立海洋经济研究小组，建立蓝色金融专项考核评价体 系。以威海为试点打造海洋经济特色，形成可复制推广的"海洋牧场+金融"特色服务模式，有力支持了 海洋强国建设。一季度末，青岛银行蓝色贷款余额为192.05亿元，较上年末增长14.44%。 此外，青岛银行综合化经营成效显著，特色化建设稳步推进。青银金租持续优化业务结构，实体类业务 占比大幅提升。同时，该行作为牵头行，落地了全国消金领域首单可持续发展挂钩银团贷款，托管业务 规模突破2000亿元。 品牌价值提升，社会责任深化 青岛银行在实现业绩稳健增长的同时，持续深化品牌建设与社会责任实践 ...