Industrial Bank Ningbo Branch closely aligns with the requirements of the “dual carbon” goals, taking green finance as a key driver for serving the real economy. It supports the optimization of Ningbo’s energy structure and the low-carbon transformation of industries, establishing a multi-level and widely covered green financial service system through precise support for clean energy projects and innovation of green credit products. This has injected strong “green momentum” into the high-quality development of the region.
As of the end of October 2025, the branch’s green finance financing balance reached RMB 47.48 billion, an increase of RMB 8.34 billion from the beginning of the year, maintaining the top position among joint-stock banks in the city in terms of green loan scale.
Innovation injects green momentum into the petrochemical industry
Petrochemical industry is a key pillar industry in Ningbo. Its industrial scale ranks among the top of China’s seven major petrochemical industry bases and accounts for a significant proportion of Zhejiang Province’s petrochemical sector. Accounting for over 20% of Ningbo’s total industrial output value, the industry boasts more than 280 above-scale petrochemical enterprises and serves as the leader in nurturing Ningbo’s trillion-yuan industrial cluster.
Ningbo is witnessing the “metamorphosis” of its traditional petrochemical industry. Amid this industrial transformation wave, Industrial Bank Ningbo Branch has actively integrated into the regional development pattern. Through comprehensive financial services, it supports Ningbo’s petrochemical industry in upgrading towards a higher-end, smarter, and greener direction.
A large petrochemical enterprise in Zhejiang has obtained two sustainability-linked loans from Industrial Bank Ningbo Branch, amounting to RMB 240 million and RMB 360 million respectively. The funds will be used for the enterprise’s low-carbon production and operation, marking the first landed sustainability-linked loan in the petrochemical industry issued by the branch across Zhejiang Province.
“In response to the call for energy conservation and emission reduction, we have renovated and upgraded our production lines and have now entered the phase of green operation.” An official from the enterprise stated. The large-scale new production lines have not only alleviated issues such as high energy consumption and high emissions of petrochemical enterprises but also enabled the recycling of waste heat and residual pressure generated during their operation, meeting the entire plant’s heating and electricity needs.
Exploration and construction of a diversified green service system
As one of the earliest banks in China to explore green finance, Industrial Bank has gradually established a group-wide green finance organizational system since becoming China’s first “Equator Principles Bank” in 2008. It has also listed the “Green Bank” initiative as one of its three core strategic pillars.
Industrial Bank Ningbo Branch has always adhered to the social responsibility concept of “integrating public welfare into profitability” and integrated the concept of green development into the entire process of operation and management, actively building the “Green Bank” brand. In recent years, the branch has proactively focused on areas such as water services, gas supply, solid waste management, clean energy and renewable energy, energy-saving technological transformation, rail transit, and transportation tools adopting clean energy. It has provided sufficient policy inclination and support for green loans with short, medium, and long-term tenures.
Facing the “15th Five-Year Plan” period, Industrial Bank Ningbo Branch will continue to leverage its advantages as a green bank. Focusing on “pollution reduction, carbon emission reduction, green expansion and growth”, it will closely align with Ningbo’s “361” industrial cluster development strategy. The branch will prioritize financing support for core enterprises and industrial chains in emerging fields such as advanced manufacturing, new energy vehicles, and charging piles. It will increase the development of green assets, enhance green financial service capabilities, and continuously promote the in-depth integration of green finance with industry operations. The branch will also bravely assume the role of a key force in regional green finance.