Climate Action Starts at the Banks as Foreign Firms Discover Here


Climate change and sustainable energy trading is a major topic at the ongoing G20 meeting in India, and Chinese banks and companies are undertaking many initiatives in green finance.

Building materials are vital to a variety of industries, so green industries can help other industries to go green too. This will create a solid base for the adoption of green buildings.

In July, Saint-Gobain signed an agreement with BNP Paribas Shanghai to establish a Sustainability Linked Loan.

Saint-Gobain will use this fund to build a new plant in Yuzhou City, Henan Province, to remanufacture gypsum and plastic board, turns them into green products.

Nicolas Suret, Chief Financial Officer of Saint-Gobain in Asia-Pacific Region, explains, 

"It's not just about green electricity, it's also part of our corporate ambitions. Saint-Gobain has always made green and sustainable development a guideline for what we do. In China, our company is one of the first to make this attempt, and in the construction products industry, our company is also one of the first to do sustainability linked loan. In addition to the sustainability linked loan, a number of projects are under analysis which concern green financing, green loan and green deposit that we started to do outside of China."