CITIC Bank actively supports the national goals of carbon peak and neutrality set by the Chinese government, contributing to the advancement of a green and low-carbon transformation. Through collaboration with stakeholders, it implements green development, utilizing finance to reduce carbon emissions. Emphasizing green operations, the Bank manages environmental footprints in energy, carbon, water, paper, and waste sectors to minimize resource consumption and pollutant emissions.

In 2022, the Bank disclosed its greenhouse gas (GHG) emissions, reaching a total of 158,529.10 tonnes for both Scope 1 and Scope 2. The detailed breakdown encompassed 5,606.67 tonnes for direct GHG emissions (Scope 1), attributed to fuel consumption of official vehicles, diesel for facilities, natural gas, gas, and liquefied petroleum gas. Indirect GHG emissions (Scope 2) from purchased electricity contributed 152,922.43 tonnes. The per capita GHG emissions were reported at 2.59 tons per person, with emissions per square meter of floor area at 0.07 tons per square meter. Furthermore, GHG emissions per RMB hundred million income amounted to 74.99 tons per RMB hundred million. The bank has also reported a decrease in total energy consumption from 291,477.56 MWh in 2021 to 277,158.43 MWh in 2022.

CITIC Bank has taken steps to reduce its emissions and has implemented low-carbon operations by increasing the substitution rate for paper statements to 100% and achieving a high substitution rate for personal e-banking transactions. Additionally, the bank has increased the number of video conferences, reducing the need for travel and associated emissions.

In conclusion, CITIC Bank aims to reduce its carbon emissions, aligning with the national dual carbon goals. The bank has reported progress in lowering its GHG emissions, a decrease in total energy consumption, and has implemented low-carbon operations such as increasing the use of electronic transactions and video conferences to limit its environmental footprint.

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