商业银行绿色信贷研究外文文献翻译

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来源出处：WO Omonge.The study on green credit of commercial banks[J]. The Journal of Environment & Development, 2015, 13(2): 119-134. 原文

The study on green credit of commercial banks

WO Omonge

Abstract Green credit is the commercial Banks and other financial institutions on the basis of the country's environmental economic policy and industrial policy, new projects of energy intensive high polluting enterprises investment loans and working capital limit and punitive interest rates; For research and development and production of pollution treatment facilities, engaged in the ecological protection and construction, the development and utilization of new energy, engaged in production and green manufacturing as well as the ecological agriculture circular economy of enterprises or institutions to provide loans to support and preferential interest rates low means of monetary policy. Green credit is an important trend in the development of modern finance; it is the change and development of traditional financial concept. Keywords: green credit; the equator principles; green strategy; commercial Banks

1 Introduction

Green credit emphasize the way of a kind of scientific development, hope that through the financial sector to guide the flow of funds, consciously encourage society to reduce environmental pollution, protect the ecological balance and saving natural resources, avoid blind pursue quantitative expansion, is heavily dependent on resources and the consumption of resources of economic development pattern, form scientific and harmonious in the whole society sustainable development mechanism. From the sixties and seventies of the last century began, with Europe and the United States, Japan and other developed countries economy high speed development, the contradiction between economic growth and environmental degradation are becoming more and more outstanding, become a serious social problem. The big financial institutions of developed countries have set standards for admittance into the project

loan environment and social responsibility actively, establish a good corporate image. In June 2003, by citi bank, abn amro and deutsche state Banks and other seven countries 10 famous commercial Banks, the first voluntary commitment to sustainable development of the financial industry benchmark - the \principles\Subsequently, HSBC and standard chartered bank and bank of America and other well-known Banks response. So far, already has 67 commercial bank's commitment to comply with the \more than 100 countries, the total project financing accounts for more than 85% of total global project financing market share. Many Banks in the developing world will also be environmental and social impact as they make loans risk assessment content. The launch of the \credit” is the environmental control measures to concrete implementation by financial leverage. Through setting up environmental barriers to entry in the field of financial credit, to limit and eliminate the new project, shall not provide credit support;To eliminate class project, should stop all kinds of new credit in the form of support, and take steps to recover the loans, from the source to cut off the energy intensive and highly polluting industries disorderly development and the economic lifeline of blind expansion, effectively cutting off serious violators of fund chain, curbing its investment impulse, solve the environmental problems, also through the credit industry structure adjustment.

2 The gold standard of green credit - the equator principles 2.1 The briefly statement of equator principles

The equator principles (EPs), which is by the world's major financial institutions according to the international finance corporation and the world bank's policies and guidelines, aims to judgment, evaluation and management of project financing a voluntary environmental and social risk in the financial industry benchmark. It requires the adoption of the principle of Banks around the world for all the project financing of the industry, including mining, oil and gas, and forestry, implement these principles, and to ensure that only those eligible project loans, use of financial leverage to promote projects in environmental protection and social harmonious development play a positive role.

2.2 Background

Root of equator principles is that financial institutions to the pressure of the performance of the corporate social responsibility. When Banks to some big project financing, due to the negative environmental impact of project and lead to social problems and controversial, and reputation losses to the bank, including governments, multilateral lending institutions and nongovernmental organizations (Ngos) and community stakeholders believe that the bank has responsibility for environmental and social problems on the project financing of prudential investigate and supervise the project sponsor or borrowers to take effective measures to eliminate or decrease the negative effects of. The international finance corporation and the Netherlands bank nine Banks in London, such as presiding over a meeting to discuss project financing, the environmental and social issues in the meeting by the Dutch bank, Barclays bank, west state bank and the bank on the basis of the international finance corporation environmental and social policy in the work of project finance jointly drafted a set of guidelines about environmental and social risk, that is the equator principles. In June 2009, including four Banks launched 10 big Banks announced that accept the equator principles. In July 2012, according to the international finance corporation revised the equator principles for the correction of performance standard and redistribution.

2.3 The equator principles of the main content

The content and structure of the equator principles is simpler, including the preface, the applicable scope, principles, and notice and disclaimer four parts. Among them, the preface to the equator principles of motivation, purpose and the meaning of the equator principles made brief explanation; Scope of provisions shall be applicable to the equator principles applicable to the global industry project total cost more than $10 million in funding all new project financing and because of the expansion, rebuilding or society have a significant impact on the environment of the original project. Principle, the statement is the core part of the equator principles listed the equator principles of financial institutions to make investment decisions based on 10 special terms and principles, the equator Banks promise will only provide eligible

project loans.

2.4 The meaning of the equator principles

Equator principles is an important milestone in the banking development, it is the first time in project financing fuzzy explicit and concrete environmental and social standards, make the environmental and social standards of the entire banking industry the basic unified, conducive to the orderly competition between Banks, but also to form a virtuous cycle, enhance the moral standards of the industry,For a single bank to accept the equator principles is beneficial to gain or maintain a good reputation, to protect market share, and conducive to good corporate governance and scientific and accurate assessment of the financial risk, it can also reduce the political risk of the project;For the society as a whole, can make the environmental and social sustainable development strategy into effect, the equator Banks objectively become the private agent, protect the environment and social through financial core role in constructing the harmonious society, can make between people, society and nature to achieve real harmony.

3 The application of green credit 3.1 The bank ESRM system

Citigroup is one of the important promoter \and positive. In 2003, the bank made the environmental and social risk management (ESRM) system, from the perspective of credit risk and reputation risk to control the environmental and social risk. At the same time, the bank credit support for renewable energy. Beginning from 2007, citigroup to support clean energy and renewable energy in China's investment has more than more than $8000, including four solar energy company and one wind power companies. On May 9, 2007, citigroup announced that it will invest $50 billion over the next 10 years, through methods such as direct investment, financing, in its service market and within the group, together with the customer support alternative energy and clean technology development and mercerization, in response to global warming. The $50 billion investment target is based on the real market activity and customer transactions, and citigroup internal operating energy conservation projects. This goal include citigroup paid $1 billion to

support the Clinton climate initiative activity, energy-saving renovation of buildings in the world's major cities to provide aid. Let's the understanding and research of citi ESRM system in detail. The system general global pay for was evaluated by ESRM department of trade and provide consultation, citi will its input in a system. These transactions in the initial stage of marketing will be input to the system, deal finally or not. ESRM system in order to get work, citigroup has also set up an environmental and social risk policy review committee. The committee consists of senior managers of different business units, and shall be the responsibility of the director of citigroup corporate citizens always. Commission is a year to 2 ~ 3 times meeting, and the department of environmental affairs department, the ESRM, and other operating environment policy initiatives related departments to provide advisory services.Citi's director of corporate citizenship will report to the public affairs committee of the board of directors concrete as city’s environment and society.

3.2 The moral concept of bank

HSBC Morality refers to the HSBC on bank loans and investment, must follow the highest international standards, under the full consideration of social expectations and the interests of generations. HSBC as early as in 2003 adopted the \principles\role. HSBC group to develop a series of covering the sustainable development of environment sensitive industry credit policy, starting from the environmental and social, provided it’s not prepared to provide loans to support the industries and fields. These policies are based on, including the \principles\a series of highest international standards, including: forest land and forest products, fresh water infrastructure, chemical, energy, mineral and metal, etc. HSBC will be according to the specific country specific implementation of the sustainable development of the credit policy, and international standards and local policies. Credit managers use environmental monitoring list to fully evaluate the environmental risk in the loan proposal, especially those defined by the government for \dates\(energy intensive and highly polluting industries. HSBC set up professional background and consulting experience of environment and sustainable development commissioner

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