Two Chinese banks become Natural Capital Declaration signatories
15 May 2012: The CEOs of China Merchants Bank and Shenzhen Development Bank have signed the Natural Capital Declaration.
The banks join 20 other financial institutions in endorsing the Declaration – a statement by the financial sector committing to work towards integrating natural capital considerations into financial products and services.
China Merchants Bank CEO Ma Weihua highlighted the “important practical significance” of bringing forward the concept of natural capital, and said that “CMB is ready to work with its global peers to maximise the protection of the world’s natural capital.”
Richard Jackson, CEO of Shenzhen Development Bank, said that SDB understood that the environmental impact that SDB might bring to society “cannot be ignored”, and that it must integrate the environmental factor into the Bank’s financial products and services in promoting green finance as well as sustainable development.
Shenzhen Development Bank (SDB), established in 1987, was the first public-listed commercial bank in the People’s Republic of China. Meanwhile, China Merchants Bank (CMB), established in the same year, is China’s first joint-stock commercial bank and ranks within the world’s top 100 banks in terms of assets.
Further support is expected to be announced soon for the Declaration, which is due to be launched at several events during the UN Conference on Sustainable Development (“Rio+20”) in Rio de Janeiro, Brazil, from 12 to 22 June 2012. Keep an eye on our events page for details.
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