File photo shows a mobile bank set up by Postal Savings Bank of China at the International Horticultural Exposition in Xi'an, northwest China's Shaanxi Province. (Xinhua/Bai Dalu)
BEIJING, March 4 (Xinhua) -- A Postal Savings Bank of China ESG (environmental, social and governance metrics) index was released at a forum on green finance held in Beijing Wednesday, aiming to promote the internationalization of China's capital market, reported Securities Daily.
The forum was sponsored by the Postal Savings Bank of China and supported by Beijing Local Financial Supervision and Administration, Deutsche Bank, and the International Institute of Green Finance (IIGF) of the Central University of Finance and Economics (CUFE).
The index, with its full name as STOXX® PSBC China A ESG, is based on the ESG evaluation methodology and ESG database of IIGF.
By using the ESG data from IIGF with negative screening, the index is the first A-share ESG index with both international standards and China's localized indicator system.
It will provide global investors with a more comprehensive and scientific reference for ESG decision-making on investment and financing of Chinese brands, and further increase China's voice in ESG investment field.
Based on the ten principles of the United Nations Global Compact, the index has given consideration to China's special policies on achieving peaking carbon emissions and carbon neutrality and building the financial system, and added indicators like "poverty alleviation" and "rural construction", according to Wang Yao, head of IIGF.
Moreover, Wang noted, it has also paid attention to China's unique enterprise mechanism and social management model, boasting more objective and reasonable evaluation of Chinese enterprises, which will help enhance the credibility and influence of local ESG ratings in China, establish the Chinese ESG brand in the international market, and help investors have a clearer picture of China's A-share market.
With a global-leading ESG database and a localized ESG evaluation system, IIGF has led the Chinese standard in the global capital market. As of the beginning of 2022, the database has covered all A-share listed companies and unlisted bond issuers, as well as some Hong Kong-listed companies, and collected ESG data of over 10,000 companies in total.
(Edited by Tong Ting, Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)
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