China Zheshang Bank is one of the twelve nationwide joint-stock commercial banks and officially commenced business in 2004 with its head office in Hangzhou, Zhejiang Province. CZBank has established 298 branch outlets in 22 provinces, autonomous regions, municipalities directly under the Central Government and the Hong Kong Special Administrative Region, effectively covering the Yangtze River Delta, Bohai Rim, Pearl River Delta Region, Economic Zone on the Western Coast of the Taiwan Straits and certain areas in the Midwestern China.
China Zheshang Bank could link the remuneration of its executive or management teams to sustainability performance criteria. Moreover, no evidence was found that the bank is committed to gender equality and women’s empowerment. China Zheshang Bank has an opportunity to improve its performance on gender equality by disclosing the proportion of women in senior leadership roles as well as how it addresses any gender pay gaps. In terms of female representation in leadership positions, women are underrepresented on the board of directors where only two of 15 board members are women. Although the bank has an environmental, social, and governance (ESG) engagement framework and related escalation framework for its credit customers, it could provide evidence for all its financing activities.
China Zheshang Bank could disclose a target to reach net-zero financed emissions by 2050 and the key sectors it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. Although the bank discloses its green loan balance as well as its loans to environmental protection-related industries, it does not specify what these entail and whether are in line with internationally recognised frameworks. Furthermore, it could also provide evidence of time-bound targets for its climate solutions. Additionally, no evidence was found that China Zheshang Bank is committed to minimising its negative impacts or to financing regenerative solutions.
China Zheshang Bank could disclose publicly available policy statements committing it to respect human rights, the ILO core labour rights, and the health and safety of workers. The bank has also an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. To provide transparency on financial inclusivity, China Zheshang Bank could publish the amount of finance directed towards women-owned businesses, small- and medium-sized enterprises (SMEs) or low-income developing countries. To conclude, China Zheshang Bank has an opportunity to establish a grievance mechanism accessible to all workers, external individuals and communities to raise human rights complaints or concerns.
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Net income: CNY 13.2 billion; Total assets: CNY 2.3 trillion