【观点】工银理财董事长王海璐：资管机构ESG重点做好三个融合

10月21-22日，工银理财党委书记、董事长王海璐在全球财富管理论坛•2023上海苏河湾大会的主题论坛“金融支持构建可持续未来“上发表主题演讲。

王海璐表示，第一，ESG投资已经成为全球金融市场的重要发展趋势。ESG是可持续发展理念在企业微观层面的具化，在全球范围内，ESG投资已逐渐成为全球资管行业的重要业务增量。第二，银行理财围绕提升ESG工作质效进行了积极探索。截至2023年6月末，ESG主题理财产品存续规模达1586亿元，同比增长超50%。工银理财是绿色发展坚定的支持者。第三，资管机构ESG要从资产端、产品端、服务端三端重点做好三个融合。一是与经济社会发展大局相融合，着力推动资产端的绿色扩容；二是与居民财富管理需求相融合，着力推动产品端的绿色创新；三是与新一轮科技革命相融合，着力推动服务端的绿色升级。 CXO UNION-CXO联盟（cxounion.cn）

下面，我结合银行理财践行ESG理念的初步探索，向各位嘉宾和同行报告一些粗浅的思考。

一、ESG投资已经成为全球金融市场的重要发展趋势

当前，推进可持续发展已成为全球共识。在本周召开的第三届“一带一路”国际合作高峰论坛上，习近平总书记将促进绿色发展列入中国支持高质量共建“一带一路”的八项行动之一。对于中国来说，推动经济社会的可持续发展已经成为最大的确定性，不仅为国家和人民带来了巨大福祉，还将为全球的可持续发展贡献中国方案和中国力量。

ESG是可持续发展理念在企业微观层面的具化。近年来，ESG在金融领域快速发展，社会各界越来越关注企业的ESG表现，关注企业的ESG信息披露以及相关的风险管理。截至上半年末，中国可持续债券市场累计发行规模达到3.19万亿元，占中国债券市场的比重达2.18%；中国泛ESG资管产品的规模也已经超过5800亿元，存续产品数量超650支，且持续保持高速增长。 CXO UNION-CXO联盟（cxounion.cn）

在全球范围内，ESG投资已逐渐成为全球资管行业的重要业务增量。根据联合国责任投资原则组织公布的数据，目前全球已有超过5370家金融机构签署“负责任投资原则”，管理资产规模超过121万亿美元，是同期全球GDP规模的约1.2倍。在日益复杂多变的国际环境下，ESG作为市场的共同语言，正成为中国资本市场高质量对外开放的重要桥梁，也为全球投资者提供了海量的投资机会和展业机遇。

二、银行理财围绕提升ESG工作质效进行了积极探索

银行理财是中国资管市场最重要的组成部分之一。随着资管新规的深入实施，银行理财行业实现了回归本源、结构优化和提质增效，迎来了高质量发展新纪元。与此同时，银行理财积极贯彻绿色发展理念，顺应国际金融市场发展趋势，围绕提升ESG工作质效进行了积极的尝试和探索。截至今年上半年末，理财资金投向绿色债券规模超2300亿元，ESG主题理财产品存续规模达1586亿元，同比增长超50%。 CXO UNION-CXO联盟（cxounion.cn）

工商银行是绿色发展坚定的支持者，在业内率先搭建绿色金融发展体系，不断完善ESG治理，在标准制定、压力测试、信息披露等方面进行了有益的探索。2022年，工商银行的明晟ESG评级提升为“A”，今年上半年绿色贷款余额突破5万亿元。在此过程中，工银理财作为工商银行的全资子公司，也在集团指导下开展了一系列工作。

一是坚持顶层设计，持续优化ESG治理架构。公司将社会责任全面融入发展战略和经营管理之中，成立绿色金融委员会，强化绿色金融统筹推动，在绩效考评中增加服务实体指标权重，聚焦低碳转型推进理财产品与服务创新，先后获评“社会责任金牛奖”“ESG践行50·责任理财公司”“最佳绿色资管理财公司”等行业重要荣誉，持续将ESG打造成为工银理财的特色品牌和专业优势。

二是坚持深度投研，积极践行ESG投资理念。公司强化绿色金融前瞻研究，深入研究碳达峰碳中和“1+N”政策体系，把握绿色金融及ESG投资总体方向，持续扩大绿色债券、基金、权益投资范围，引导理财资金支持清洁能源、绿色交通、生态保护、节能环保、环境治理等领域，积极把握碳中和专项债、海洋保护专项债、新能源类公募REITs等投资价值，为绿色低碳产业发展引入更多长期稳定资金。 CXO UNION-CXO联盟（cxounion.cn）

三是坚持底线思维，全面强化ESG风险管理。公司认真贯彻落实集团行业投融资政策，严守生态保护红线和环境质量底线，坚决执行“环保一票否决制”，从严制定准入标准和风控措施，切实提升环境与气候风险防控能力，促进长期可持续发展。

四是坚持以人为本，高度重视ESG文化引导。公司坚持做有担当、负责任的企业公民，持续加强信息披露与利益相关方沟通，通过形式多样的投资者陪伴工作，引导长期投资、价值投资。同时，将ESG融入公司文化基因，打造“勤勉、专业、规范、互信、协作、高效”的投研文化，优化内部人才培养体系，开展了一系列公益服务、助力慈善的活动，进一步提升ESG软实力。 CXO UNION-CXO联盟（cxounion.cn）

三、资管机构重点做好三个融合，从资产端、产品端、服务端三端着力

总的来看，虽然中国ESG市场起步较晚，市场发展程度仍不充分，但中国与全球携手推动可持续发展的大趋势不会改变，发展空间非常广阔。面向未来，站在资管机构的角度，我想提三点倡议，供各位嘉宾参考。

第一，与经济社会发展大局相融合，着力推动资产端的绿色扩容。随着绿色发展和转型融资需求的快速增长，未来相关领域投资标的将更加丰富。资管机构要加速推动资产结构的绿色调整，以服务经济社会绿色发展为主线，优化资源配置，以市场化的方式为绿色产业发展提供高质量的资金支持。同时，持续推动完善绿色金融、可持续金融的规则互通、标准互认，强化信息披露要求，进一步畅通国内外机构投资者参与ESG投资的路径。

第二，与居民财富管理需求相融合，着力推动产品端的绿色创新。国内外实践证明，将ESG纳入投资决策和管理流程有助于降低投资的环境社会风险，提供更高、更稳定的长期投资回报。当前，中国居民正在从“储蓄养老”向“投资养老”转变，由此产生的“长期稳健”财富管理需求和ESG具有天然的匹配性。因此，资管机构要以深入推进可持续发展为机遇，强化产品端的绿色创新，开发更多适销对路的理财产品。同时，也要持续加大对投资者的陪伴，逐步提高ESG产品的理解和接受度，进一步平衡ESG投资长期回报与短期收益之间的阶段性矛盾，推动更多的自然财富、生态财富转化为社会财富、经济财富。 CXO UNION-CXO联盟（cxounion.cn）

第三，与新一轮科技革命相融合，着力推动服务端的绿色升级。当前，通用人工智能、生命科学、新能源等前沿技术领域正在发生革命性突破，将深刻改变经济生产函数，对人类生产生活方式产生持续而深远的影响。从资管业务来看，信息化、数字化、智能化已经成为提升单位产出、优化服务流程的重要抓手，成为我们推进可持续发展的必由之路。根据工银理财的统计，目前通过线上方式购买理财产品的客户已经达到了98.37%，其中通过手机银行的占比接近90%。为此，资管机构要持续推动ESG理念和金融科技的深度融合，打造数字化、智能化的绿色金融服务系统。

各位领导，各位嘉宾！面向新时代、新征程，工银理财期待在ESG领域与海内外同业开展更加广泛、紧密、深度的合作，大力发展可持续投资，全方位推动业务模式的绿色转型，积极参与应对气候变化全球治理，为全球绿色可持续发展、建设清洁美丽的世界，作出新的更大贡献！ CXO UNION-CXO联盟（cxounion.cn）

翻译：

Wang Hailu, chairman of ICBC Financial Management: ESG focuses on three integration

On October 21-22, Wang Hailu, Secretary of the Party Committee and Chairman of ICBC Wealth Management, delivered a keynote speech at the theme forum “Financial Support for Building a Sustainable Future” at the Global Wealth Management Forum 2023 Shanghai Suhewan Conference.

Wang Hailu said that first, ESG investment has become an important development trend in the global financial market. ESG is the embodiment of the concept of sustainable development at the micro level of enterprises. On a global scale, ESG investment has gradually become an important business increment in the global asset management industry. Second, bank financial management has actively explored the improvement of ESG work quality and efficiency. As of the end of June 2023, the survival scale of ESG theme financial products reached 158.6 billion yuan, an increase of more than 50%. Icbc Financial Management is a firm supporter of green development. Third, ESG of asset management institutions should focus on three aspects of integration from the asset side, product side and service side. First, integrate with the overall economic and social development, and strive to promote the green expansion of assets; The second is to integrate with residents’ wealth management needs, and strive to promote green innovation at the product end; The third is to integrate with the new round of scientific and technological revolution, and strive to promote the green upgrade of the service end.

In the following, I would like to report some superficial thoughts to the guests and colleagues based on the preliminary exploration of ESG concept in banking finance.

First, ESG investment has become an important development trend in the global financial market

At present, promoting sustainable development has become a global consensus. For China, promoting sustainable economic and social development has become the greatest certainty, which not only brings great benefits to the country and the people, but also contributes China’s plan and strength to the sustainable development of the world. CXO UNION-CXO联盟（cxounion.cn）

ESG is the embodiment of the concept of sustainable development at the micro level of enterprises. In recent years, ESG has developed rapidly in the financial field, and all sectors of society are paying more and more attention to the ESG performance of enterprises, ESG information disclosure and related risk management. By the end of the first half of this year, the cumulative issuance scale of China’s sustainable bond market reached 3.19 trillion yuan, accounting for 2.18% of China’s bond market; The scale of China’s pan-ESG asset management products has also exceeded 580 billion yuan, and the number of surviving products exceeds 650, and continues to maintain rapid growth.

On a global scale, ESG investment has gradually become an important business increment in the global asset management industry. According to data released by the United Nations Principles for Responsible Investment Organization, more than 5,370 financial institutions around the world have signed the Principles for Responsible Investment, with assets under management exceeding 121 trillion US dollars, which is about 1.2 times the size of global GDP during the same period. In an increasingly complex and changeable international environment, ESG, as the common language of the market, is becoming an important bridge for the high-quality opening up of China’s capital market, and also provides a large number of investment opportunities and exhibition opportunities for global investors.

Second, bank financial management has actively explored the improvement of ESG work quality and efficiency

Bank financing is one of the most important components of China’s asset management market. With the in-depth implementation of the new regulations on capital management, the banking finance industry has returned to its source, optimized its structure and improved its quality and efficiency, ushering in a new era of high-quality development. At the same time, the bank actively implements the concept of green development, conforms to the development trend of the international financial market, and makes positive attempts and explorations around improving the quality and efficiency of ESG work. As of the end of the first half of this year, the amount of financial funds invested in green bonds exceeded 230 billion yuan, and the size of ESG theme financial products reached 158.6 billion yuan, an increase of more than 50%.

As a staunch supporter of green development, ICBC takes the lead in building a green financial development system in the industry, constantly improves ESG governance, and has made beneficial exploration in standard setting, stress testing, information disclosure and other aspects. In 2022, ICBC’s ESG rating was upgraded to “A”, and the balance of green loans exceeded 5 trillion yuan in the first half of this year. In this process, ICBC Financial Management, as a wholly-owned subsidiary of ICBC, also carried out a series of work under the guidance of the Group.

First, adhere to top-level design and continue to optimize ESG governance architecture. The company has fully integrated social responsibility into its development strategy and operation management, established a green finance committee, strengthened the overall promotion of green finance, increased the weight of service entity indicators in performance evaluation, and focused on low-carbon transformation to promote innovation in financial products and services. Has been awarded the “Social Responsibility Golden Bull Award”, “ESG Practice 50· Responsible Financial Company”, “Best Green Money Management Financial Company” and other important honors in the industry, and has continued to build ESG into a characteristic brand and professional advantages of ICBC Financial.

The second is to adhere to in-depth investment research and actively practice ESG investment concepts. The company will strengthen the forward-looking study of green finance, in-depth study of the “1+N” policy system of carbon peak carbon neutrality, grasp the overall direction of green finance and ESG investment, continue to expand the scope of green bonds, funds and equity investment, and guide financial funds to support clean energy, green transportation, ecological protection, energy conservation and environmental protection, environmental governance and other fields. We will actively grasp the investment value of carbon neutral special bonds, Marine protection special bonds, and new energy public REITs, and introduce more long-term and stable funds for the development of green and low-carbon industries. CXO UNION-CXO联盟（cxounion.cn）

Third, adhere to the bottom line thinking and comprehensively strengthen ESG risk management. The company earnestly implements the investment and financing policies of the Group industry, strictly observes the red line of ecological protection and the bottom line of environmental quality, resolutely implements the “one-vote veto system for environmental protection”, strictly formulates access standards and risk control measures, effectively improves the prevention and control ability of environmental and climate risks, and promotes long-term sustainable development. CXO UNION-CXO联盟（cxounion.cn）

Fourth, adhere to people-oriented and attach great importance to ESG cultural guidance. The company adheres to being a responsible and responsible corporate citizen, continuously strengthens information disclosure and communication with stakeholders, and guides long-term investment and value investment through various forms of investor companionship. At the same time, ESG is integrated into the company’s cultural gene, creating an investment and research culture of “diligence, professionalism, norms, mutual trust, collaboration, and efficiency”, optimizing the internal talent training system, and carrying out a series of public service and charity activities to further enhance ESG’s soft power.

Third, the asset management institutions focus on three integration, from the asset end, product end, service end

In general, although China’s ESG market started late and the market development degree is still insufficient, the general trend of China and the world to jointly promote sustainable development will not change, and the development space is very broad. Looking ahead and from the perspective of asset management institutions, I would like to put forward three proposals for your reference.

First, integrate with the overall economic and social development, and strive to promote the green expansion of the asset side. With the rapid growth of green development and transformation financing needs, there will be more investment targets in related fields in the future. Asset management institutions should accelerate the green adjustment of asset structure, take serving the green development of economy and society as the main line, optimize the allocation of resources, and provide high-quality financial support for the development of green industries in a market-oriented way. At the same time, continue to promote the improvement of green finance and sustainable finance rules, mutual recognition of standards, strengthen information disclosure requirements, and further open the path for domestic and foreign institutional investors to participate in ESG investment.

Second, integrate with the wealth management needs of residents, and strive to promote green innovation on the product side. Practice at home and abroad has proved that integrating ESG into investment decision-making and management processes can help reduce the environmental and social risks of investment and provide higher and more stable long-term investment returns. At present, Chinese residents are shifting from “saving for retirement” to “investment for retirement”, and the resulting “long-term and stable” wealth management needs and ESG have a natural match. Therefore, asset management institutions should take the in-depth promotion of sustainable development as an opportunity to strengthen green innovation on the product side and develop more marketable financial products. At the same time, it is necessary to continue to increase the company of investors, gradually improve the understanding and acceptance of ESG products, further balance the stage contradiction between long-term returns and short-term returns of ESG investment, and promote more natural wealth and ecological wealth into social wealth and economic wealth. CXO UNION-CXO联盟（cxounion.cn）

Third, integrate with the new round of scientific and technological revolution, and strive to promote the green upgrade of the service end. At present, revolutionary breakthroughs are taking place in frontier technologies such as general artificial intelligence, life sciences, and new energy, which will profoundly change the economic production function and have a sustained and far-reaching impact on human production and life style. From the perspective of asset management business, informatization, digitalization and intelligence have become an important starting point for improving unit output and optimizing service processes, and have become the only way for us to promote sustainable development. According to the statistics of ICBC Financial Management, the number of customers who purchase financial products online has reached 98.37%, of which nearly 90% are through mobile banking. To this end, asset management institutions should continue to promote the deep integration of ESG concept and financial technology, and create a digital and intelligent green financial service system.

Leaders, Distinguished guests! Facing the new era and new journey, ICBC Financial is looking forward to carrying out more extensive, close and in-depth cooperation with domestic and foreign peers in the field of ESG, vigorously developing sustainable investment, promoting the green transformation of business models in an all-round way, actively participating in the global governance of climate change, and making new and greater contributions to the global green and sustainable development and building a clean and beautiful world! CXO UNION-CXO联盟（cxounion.cn）

由CXO UNION-CXO联盟（cxounion.cn）转载而成，来源于中国财富管理50人论坛；编辑/翻译：CXO UNIONCXO联盟小U。

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