Climate Change Data

Environmental Metrics

Environmental Achievements

• Sponsored the “Tree Planting Challenge 2008” organised by Friends of the Earth (HK) and won “The Smartest Tree Planting Team Award”
• Partnered with Green Power to launch the territory-wide green educational programme entitled “Alleviate Global Warming: 21 Things We Can Do”
• Participated in the Lights Out Campaign and “Power Smart” Campaign
• Launched an internal staff campaign to collect used books and video discs

Social Achievements

• Awarded the “Caring Company Logo” by the Hong Kong Council of Social Service for the fifth consecutive year
• Received a Gold Certificate from the Social Welfare Department’s Volunteer Movement for the Bank’s contribution of over 1,000 volunteer service hours in 2007
• Partnered with St. James’ Settlement to launch the “CITIC Ka Wah Knowledge Angel Project” and received matched funding from the Social Welfare Department’s Partnership Fund for the Disadvantaged
• Participated in the Hong Kong Grand Prix Round Table Pedal 2008 and won the “Round Table Cup”
• Sponsored staff members to join the “Outward Bound Adventure Race 2008” and won the Champion in the Corporate Group (Elite Route)
• Supported disaster relief drives for the January blizzards in the Southern China and the May Sichuan earthquakes

Governance Achievements

• Parent company, CITIC International Financial Holdings Limited (“CIFH”), successfully privatised and delisted

Climate Goals & Targets

Environmental Challenges

• Global financial tsunami triggered by the US sub-prime mortgage crisis
• Lehman Brothers' collapse
• Sharp decline in demand for wealth management products and services
• Tightening of liquidity in the market and increasing news of corporate collapses
• Deteriorating economic environment
• Market volatilities

Mitigation Strategies

• Adopted defensive strategies to protect business fundamentals
• Restructured resources and maximised efficiencies
• Deepened collaboration with China CITIC Bank Corporation Limited
• Fully wrote down investments in two structured investment vehicles
• Implemented aggressive deposit acquisition campaigns
• Tightened impairment policy
• Implemented a series of deposit as well as asset and liability management programmes
• Tightened loan portfolio and risk management disciplines
• Focused on developing relationships with China-related core customers
• Minimised credit exposures to high risk customers or projects

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• 2007 Hong Kong Management Association Quality Award (Silver Award)

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Launched the “Speak Along” program, benefiting over 22,000 children with speech impediments.
• Supported Ronald McDonald House Charities® Hong Kong.
• Received The Hong Kong Council of Social Service’s 15 Years Plus “Caring Company Logo” and the “Social Capital Builder Logo Award”.

Governance Achievements

• Strengthened risk management, compliance, and internal controls.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic resulting in a global recession and significant disruptions to business activities.
• Heightened conflicts between China and the US, intensified market risks, and stagnant cross-border traffic.
• Largest recession on record in Hong Kong with GDP declining by 6.1% and unemployment rate reaching a 16-year high of 6.6%.

Mitigation Strategies

• Implemented business continuity plans to ensure safety of customers and staff.
• Enhanced risk management and compliance capabilities.
• Pressed ahead with business development and transformation via Fintech and product innovation.
• Continued to fine-tune the inMotion mobile banking platform.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• “Best Digital Financial Service” in the 2019 HKCAMA-Bloomberg Offshore China Fund Awards
• “Outstanding Robo Advisory Service” in The 20th Capital Outstanding Enterprise Awards
• “Top Nomination Award” in The 13th Hong Kong Institute of Bankers’ Outstanding Financial Management Planner Awards
• “Innovative Banking Service (E-Banking)” award in the Hong Kong FinTech Impetus Awards 2020
• “Excellence Award for Mobile Banking Service” in Skypost Banking and Finance Awards 2020
• “Outstanding Intelligent Personal Investment Service” in etnet FinTech Awards 2020
• “Outstanding Personal Banking Mobile App” in etnet FinTech Awards 2020
• “Outstanding Commercial Bank” for 2019-2020 from Bond Connect Company
• “Best Overseas Participant Member” from China Foreign Exchange Trade System (“CFETS”)
• Five awards from Refinitiv

Environmental Metrics

ESG Focus Areas

• Sustainable Development
• Corporate Social Responsibility
• Green and Sustainable Finance
• Climate Risk Management

Environmental Achievements

• Reduced Scope 1 and 2 operational carbon emissions by 10.5% year-on-year; conserved over 1.4 million sheets of paper.
• Established the first ESG branch in Tsim Sha Tsui with a green paperless operating model; reduced electricity consumption by 40% in the new office building.

Social Achievements

• CNCBI Volunteer Team organised over 120 volunteer activities, contributing over 3,000 service hours and benefiting over 10,000 people.
• Organised financial literacy workshops and activities for children and youths from low-income families and ethnic minority groups.

Governance Achievements

• Implemented a climate risk management framework, with the Board delegating the Credit and Risk Management Committee to assist in fulfilling climate-related risk responsibilities.
• Strengthened internal control and compliance capabilities, adopting technology solutions to enhance compliance risk management; awarded the “2023 Privacy-Friendly” Gold Award.

Climate Goals & Targets

Environmental Challenges

• Global geopolitical unrest, acceleration of global industrial and supply chain restructuring, and new challenges to economic growth.
• Uneven recovery of Mainland China's economy; sentiment in the real estate sector and related industries has yet to meaningfully improve.

Mitigation Strategies

• Implemented a strategic approach centred on risk management and adhered to 4C (Culture, Customer, Collaboration, Cyberspace) strategies.
• Capitalised on market opportunities, optimised business structure and asset allocation, and ensured stable operational performance.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Green Mortgage plan; diversified ESG themed funds, bonds, and ESG insurance products for high-net-worth customers.

Awards & Recognition

• “20 Years Plus Caring Company Logo” from the Hong Kong Council of Social Service
• “Industrial Cares” Recognition Scheme 2023’s “Caring Certificate”
• “Outstanding Award for Green and Sustainable Loan Structuring Advisor (Oil and Gas Industry)” and “Outstanding Award for Green and Sustainable Bond Lead Manager (Financial Holding Industry) – Visionary Sustainability Bond Framework” at the 2023 Hong Kong Green and Sustainable Finance Awards