Analysys: Driven by the "dual carbon" goal, the rapidly growing demand for green finance will become a new growth point for banks. Banking institutions will take "green banking" as their strategic orientation to accelerate the deployment of green businesses and explore green financial development with low-carbon life-themed credit cards new model. Shanghai Pudong Development Bank focuses on green finance and explores the benchmark of green and low-carbon financial services with credit cards. The green and low-carbon service of SPD credit card 1.0 is upgraded to 3.0 to improve the quality, and the SPD Xiben APP is used as the starting point to continue to innovate and lead the advantages to become stronger and better. "Green Innovation" brand, and comprehensively expand green financial services to help the development of green economy.
Banking institutions respond to the national dual-carbon strategy and actively explore green financial practices
● Double-carbon strategy drives green development, multiple policies emphasize financial support
my country's green finance has been explored and developed for more than ten years. In September 2020, before the goals of "carbon peaking" in 2030 and "carbon neutrality" in 2060 (referred to as "dual carbon" goals), my country's green financial system mainly They are relatively simple financial products such as green credit and green bonds. Since the "dual carbon" goal was clearly stated, the policy layout for economic low-carbon transformation has been strengthened, and "vigorously advocating green and low-carbon consumption" has been included in the "Strategic Planning Outline for Expanding Domestic Demand (2022 -2035)", accelerating green transformation, promoting green consumption, and promoting green development finance have become China's powerful practices for achieving the "double carbon" goal. The 2023 Central Economic Work Conference proposed to guide financial institutions to increase support for green development and other fields. The People’s Bank of China further clarified the development direction and mission objectives of green finance. Innovation and other policy tools and mechanisms, and the central ministries and commissions such as the China Banking and Insurance Regulatory Commission and the National Development and Reform Commission have successively issued special supporting policies, gradually building a relatively comprehensive green financial ecosystem.
The improvement of the green financial policy system is accelerating, and various banks are closely following national policies to guide more resources to be allocated to green and low-carbon fields. According to data from the central bank, by the end of 2022, the balance of green loans in domestic and foreign currencies in my country will be 22.03 trillion yuan, a year-on-year increase of 38.5%, ranking first in the world in terms of issuance scale. It can be seen that the scale of green loans in my country continues to grow rapidly, and the financing demand for green development is still large.
● Exploring the development path of green finance has become the focus of banking institutions
Driven by the "Double Carbon" goal, financial institutions integrate green development into financial services, especially banking institutions take on the mission and responsibility of developing green finance. At the same time, the rapidly growing demand for green finance will also become a new growth point for banks. Taking "green bank" as the strategic orientation, actively explore the development of green finance. As the representative of the "national team", ICBC has positioned green finance as a bank-wide development strategy, and has successively established the Green Finance Committee and the Leading Group for Carbon Neutrality at Peak Carbon. By the end of 2022, the scale of green credit will rank first with nearly 4 trillion yuan ; China Construction Bank has also successively set up the Green Credit Committee and Carbon Peak Carbon Neutrality Work Leading Group to integrate green and sustainable concepts into business management and strategic decision-making. The green loan and green bond business has grown rapidly in the past two years. By the end of 2022, green credit The scale is nearly 2.8 trillion yuan, a year-on-year increase of 40.1%. Joint-stock banks take Shanghai Pudong Development Bank and Industrial Bank as green finance pioneers. Shanghai Pudong Development Bank has established a green finance business promotion committee and a green finance center, and raised the development of green finance to an important strategy of the company; Industrial Bank, driven by the group's "all-green" transformation goal , Green banking has become one of the strategic orientations. By the end of 2022, the scale of green credit will be 637.07 billion yuan, an increase of 40.3%. According to the data in the bank’s annual report in 2022, the green credit of state-owned banks and joint-stock banks is developing rapidly. At the same time, the development of digital technology is also opening up more innovation space for the development of green finance. Green finance has become an important incremental business development direction for banking institutions.
Figure 1-1: Green credit scale and growth changes of some banks
Banking institutions accelerated the layout of green business, and explored a new model of green financial development with low-carbon life-themed credit cards . This year's government work report puts forward the goal of 5% GDP growth, and promoting consumption will become the key task of economic recovery this year. Credit cards are the main force of consumer finance, undertaking the important mission of promoting consumption, expanding domestic demand, and stabilizing the economy. It is also a green layout of banking institutions. An important entry point in the low-carbon field, banking institutions mainly use credit cards to connect green consumption scenarios and embed green financial services and rights and interests systems. In 2021, Shanghai Pudong Development Bank, as the first batch of cooperative banks, will jointly issue green and low-carbon themed credit cards with UnionPay. A green and low-carbon themed credit card was launched, and the CCB Life APP set up a "low-carbon travel" area; Ping An Pocket Bank APP launched the "Low-Carbon Home" area; Recently, the green and low-carbon credit card has been upgraded, focusing on financial services for green life, and actively exploring new scenarios and new services in combination with the changing trend of user consumption behavior under the "dual carbon" goal, for green card use, green credit, green travel, green life, Green public welfare and green enterprise exclusive rights, etc. build six green rights and interests ecological systems, and gradually form a model that uses green and low-carbon credit cards as the medium and "card + APP" as the carrier to create an all-round financial service covering green life. More and more banking institutions are exploring and building a green financial service ecosystem through co-branded credit cards and app "green" zones, and constantly expanding and enriching the green and low-carbon layout of credit card business.
Figure 1-2: Banking institutions set up a "low-carbon" zone in the credit card APP
With the upgrading of the concept of green consumption and the trend of green consumption, credit cards have become an important starting point for banking institutions to explore the development model and path of green finance. More and more banking institutions are focusing on the green and low-carbon field, connecting various scenarios such as travel, car purchase, shopping, and life payment through the "green and low-carbon credit card + APP", integrating consumer rights to guide and encourage users to consume greenly, and drive green and low-carbon services Explore and help the development of green finance.
SPD Credit Card focuses on green finance and uses credit cards to explore the benchmark of green and low-carbon financial services
Actively enter the market and continue to upgrade the green financial service system . In serving the national strategy and the main battlefield of the real economy, Shanghai Pudong Development Bank has demonstrated "Shanghai Development Bank's responsibility". Since the concept of green finance rose in China, it has been involved in the layout of green finance. In 2008, it took the lead in launching the "Green Credit Comprehensive Service In 2012, the "Green Financial Comprehensive Service Solution 2.0" was upgraded and launched in 2021, and the "Green Financial Comprehensive Service Solution 3.0" was further upgraded and launched, focusing on green energy, green smart manufacturing, green urbanization, environmental protection, new energy vehicles, carbon Various scenarios in the six major financial fields, create a three-dimensional, full-process, and full-coverage service system, and build a relatively comprehensive green financial product system in the industry covering the upstream and downstream of the low-carbon industrial chain.
Figure 2-1: Development history of Shanghai Pudong Development Bank's green finance
SPD credit card green and low-carbon service upgrade from 1.0 to 3.0, with SPD Xiben APP as the starting point for continuous innovation and leading advantages
Strengthen the strategic direction, deeply cultivate green finance, and strive to become the vanguard of green finance . Shanghai Pudong Development Bank continues to make efforts in the field of green finance. It has incorporated the green finance development strategy into the company's "14th Five-Year Plan" strategic plan, elevated the green finance business to an important position in the bank's development strategy, and clarified that "five-year efforts will become a domestic joint-stock business Bank green finance vanguard" development goal, and gradually expand green business to the entire group level, empower the green financial business system with group synergy and technology, effectively integrate traditional credit products and financial tools such as mergers and acquisitions, bonds, equity, syndicates, and matching. Make every effort to build a green financial supermarket that "crosses the inter-bank market, capital market, and carbon financial factor market", and continuously consolidates its competitive advantages in the field of green finance. As of the end of 2022, the scale of Shanghai Pudong Development Bank's green finance business has exceeded one trillion yuan, and the balance of green credit has reached 427.1 billion yuan, a year-on-year increase of 37.2%. The scale of green credit ranks among the forefront of joint-stock peers.
Grasp the breakthrough of green consumption upgrade, use the credit card as the starting point, continue to improve the green service system, and strengthen the "SPD Green Innovation" brand . The Central Economic Work Conference set the priority of restoring and expanding consumption, superimposed the "dual carbon" strategic drive, and green consumption will become an important breakthrough. Using credit cards as the carrier, Shanghai Pudong Development Bank has laid out and continuously increased its green financial business, continued to innovate green financial products and business models, and promoted the construction of green banks through systematic and digital methods. The green and low-carbon layout of SPD Credit Cards actively complies with national strategies and policy orientations. Relying on the company’s green financial service layout and centering on user consumption, SPD credit cards are the core products, and SPD Xiben APP is the main online position to widely connect green consumption. scenarios, and embed green and low-carbon financial services and rights to form a closed-loop service system.
Figure 2-2: Green and low-carbon layout of Shanghai Pudong Development Bank credit card
From 1.0 to 3.0, SPD Credit Card continues to iterate and innovate green services, leading the trend of green and low-carbon life . The Shanghai Pudong Development Bank credit card anchors the integration point of consumers' green and low-carbon life and financial services, improves users' green consumption experience through low-carbon card products, and leads a new trend of low-carbon life. In the green and low-carbon 1.0 theme stage launched in April 2022, SPD Credit Card has established a basic framework system for green services, focusing on continuously optimizing product rights and interests in green points, travel, business districts, car purchases and other scenarios. In terms of green points, Increase the enthusiasm of users to participate by rewarding points corresponding to green and low-carbon behaviors or redemption of green-themed points for products; in terms of new energy vehicle installments, cooperate with dealers to carry out diversified acquisitions such as automobile festivals and group buying festivals, and provide users with designated brands or models In terms of green travel, relying on channels such as UnionPay, WeChat, and Alipay to open up public transportation, subways, shared bicycles and other public travel scenarios, and enjoy preferential ride benefits; in terms of business circles, for daily high-frequency consumption scenarios, linkage Merchants in high-quality business circles provide benefits such as bonus points for consumption; starting from the actual consumption needs of users, and in the form of personalized services, encourage and guide users to cultivate low-carbon life concepts and habits. In the 2.0 stage, efforts are made to serve green life from both scenarios and rights. The upgrade of the scene dimension is mainly reflected in the launch of the “Green and Low Carbon Zone” on the PUD Xiben APP, which extends the single-themed credit card scenario rights in the 1.0 green rights system to the APP and carbon accounts, and builds More three-dimensional service scenarios; upgrade the rights and interests dimension, turn one-way service into two-way interaction, and use the green and low-carbon exclusive management tool "Pu Tan Bao" as the main connection to connect users' green behaviors with SPD's green services, which not only further enriches the rights and interests of points At the same time, it meets the spiritual needs of users and brings users a sense of accomplishment of "green and fashionable life". On April 20 this year, SPD Credit Card once again upgraded its green and low-carbon rights and entered the stage of green and low-carbon 3.0. It continued the original intention of "greening everything and creating the future together". From service objects to service algorithms, from service scenarios to service rights, it will The services and rights of the 2.0 stage will be further deepened to achieve a comprehensive evolution from top to bottom, from the inside to the outside.
Figure 2-3: SPD Green and Low Carbon Service 1.0 to 3.0 Service Upgrade
From brand to user, from product to service, from scenario to equity, SPD credit card penetrates and conveys the concept of green, low-carbon and sustainable development layer by layer, constantly innovates and explores the product and service model and service concept of green finance, and accelerates the transformation of green and low-carbon .
SPD Green and Low Carbon 3.0 improves quality in an all-round way, and the green and low carbon service system becomes more luxuriant
SPD credit card green and low-carbon 3.0, on the one hand, enriches the brand connotation of "SPD Green Creation" and leads from green financial services to the concept of green and low-carbon life; 1.0 and 2.0 based on "Card+APP" continue to be upgraded, with deep roots and wide systems, thickened trunks, extended branches, rich branches and leaves, comprehensively upgraded the management system, and helped the green and low-carbon service system to flourish .
Figure 2-4: SPD Credit Card Green and Low Carbon 3.0 Service System
Wide expansion is aimed at all customers, and the root system of service is deeply rooted . Green and low-carbon service 3.0 expands the service objects of the "green and low-carbon zone" on the "PUD Xiben" App from low-carbon themed credit card users to all SPD credit card holders. From April 20, 2023, all holders of valid SPD Bank Cardholders of the credit card can participate in the interaction of the low-carbon zone, participate in the carbon emission reduction in the zone and the collection of "Putanbao" green points, and enjoy the corresponding exchange rights. Opening green service channels to more users and connecting more customer groups to the green service system is more in line with the overall concept of green development across the board.
Upgrade the carbon emission reduction algorithm, thicken the backbone of services, and stabilize the cornerstone of SPD's green services . In this 3.0 upgrade, the carbon emission reduction value algorithm is more scientific and authoritative, supported by the Shanghai Pudong Development Bank Credit Card Center, China UnionPay and Shanghai Environment and Energy Exchange. Among them, SPD Credit Card Center compiled a dedicated methodology based on the definition of credit card low-carbon scenarios, and experts organized by the Shanghai Environment and Energy Exchange conducted a review. Combined with expert opinions, it continued to iteratively upgrade and optimize, and continued to promote the professional improvement of credit card low-carbon methodology. Leading the industry in quantifying carbon behavior and linking rights and interests services, and laying a solid professional foundation for subsequent promotion of industry applications.
Connect more scenarios, extend service branches, and expand SPD's green service area . In 2.0, the "Green and Low Carbon" zone of Puda Xiben APP has extended from daily travel to business handling, public payment, new energy vehicle installment purchase, etc., to daily life scenarios, integrating personal green behavior and carbon emission reduction The display is directly linked to the rights and interests of "Putanbao" (green points), which helps users record their personal carbon reduction behaviors in a quantifiable, visualized, and equity-based manner, and fully mobilizes the enthusiasm of users to participate. With the 3.0 upgrade, two new carbon emission reduction accumulation scenarios, e-policy and online repayment, have expanded the number of carbon emission reduction scenarios from 9 to 11. SPD’s green scenario services have been further opened up, further improving the The number of APP users is active. As of March 2023, the number of active users of Puda Xiben APP is 25.5319 million, a year-on-year increase of 25.26%.
Figure 2-5: “Green and Low-Carbon” Scenario of Puda Xiben APP
More lucrative rights and interests, enriched service branches and leaves, and upgraded the quality of SPD's green services . The first is to upgrade the rights and interests of the card . For the rights and interests of new households, apply for the Shanghai Pudong Development UnionPay green and low-carbon themed credit card for the first time. If the consumption reaches the standard, you can enjoy a maximum of 198 yuan WeChat instant cash discount. You can receive it in 3 months, and you can receive a maximum of 6.6*10 cards per month; The rights and interests of travel services, cardholders travel by bus and subway and pay by designated methods, can enjoy 1 yuan credit card refund, with a limit of 10 discounts per month. The second is to upgrade the rights and interests of green life . SPD credit card users can order a green life rights package that is free for the first month and automatically renewed at 14.9 yuan per month for the next month. As well as the green first-order gift, you can receive three major benefits for free, including bus red envelopes, shared bicycle ride cards, taxi red envelope coupons, mint health monthly card discounts, daily yoga monthly card discounts, Zhihu salt selection discounts, and 17K novel membership cards , portable tableware and other multi-category preferential rights and interests. The third is to upgrade the rights and interests of the multi-storey mall . A variety of green, low-carbon and environmentally friendly products are on the shelves. Cardholders can enjoy a discount of up to 46% when they pay for goods in the designated green zone of the multi-storey mall. The fourth is to upgrade the purchase rights of new energy vehicles . During the activity period, the cardholders who meet the standards in the activity area will get the top 2,000 credit card credits every month according to the order of the time when they submit the application for the car installment. 3,000 yuan can be deducted. From exclusive green credit card rights to green life member gift packages, to commodity shopping consumption and new energy vehicle purchases, SPD’s green service-related rights and interests are more abundant to meet the diverse needs of users .
Figure 2-6: Puda Xiben APP "Green and Low Carbon" Rights 3.0
Link with special environmental protection festivals, light up the service leaves, and increase the memory points of SPD's green services . The 3.0 service system adds rights and benefits for special festivals. For example, for the Earth Day on April 22, Shanghai Pudong Development Credit Card has set up additional double preferential benefits for green consumption rewards. Cardholders can get an extra double reward if they complete the reward collection in the “Green and Low Carbon Zone” of the Puda Xiben APP based on designated green behaviors and green transactions. By designing preferential activities on festivals related to green and low-carbon, not only will SPD’s green services have a sense of ceremony, but it will also further increase the memory of SPD’s green services .
The green and low-carbon service of SPD credit card has been upgraded from 1.0 to 3.0. It has always implemented the original intention of "greening everything and creating the future together". With "card + APP" as the carrier, it has built a richer green and low-carbon ecological layout. From credit card products Upgrade, APP area innovation, personal carbon account upgrade, wider and denser scene coverage, wider user participation, and upgrade of rights and interests services, etc., all-round development of a complete set of operating systems, from the first batch of cooperative low-carbon credit card industry pioneers to The forefront of the industry, creating a benchmark for green and low-carbon services .
SPD Credit Card is committed to "carbon" to the future, and continues to innovate to help the development of the green economy
SPD Credit Card "does not forget the original intention", follows the trend, and firmly develops green finance to boost the "double carbon" goal . The government work report at the "Two Sessions" once again emphasized the need to strengthen financial support for green development. Green finance has been raised to an unprecedented height. Financial institutions' participation in green finance to boost dual-carbon goals is an important strategic direction in the future. Taking advantage of the trend, SPD Credit Card adheres to the concept of building a green bank, clarifies its own roadmap for implementing the dual-carbon strategy, continues the original intention of "integrating everything green and creating the future together", continues to deepen the layout of green financial comprehensive services, and further enriches the "SPD Green Bank" Create" brand connotation. At present, Shanghai Pudong Development Bank has formed a multi-level green financial development strategic planning system for the "dual carbon" goal. The first is the comprehensive layout of green financial services. and a professional "6+N" service system, gradually increase the penetration of green finance in corporate business, retail business, financial market segment and group subsidiary business, and build a conglomerate, three-dimensional, multi-level and wide-coverage green finance Service system; the second is the layout of green financial innovation products and service systems. Through continuous promotion of green product innovation, multi-dimensional participation in carbon market construction, and gradually building four leading positions in basic services, product innovation, carbon market transactions + market making, research and capacity building Integrated carbon finance business layout. In the next step, we will speed up the layout of green financial innovation, continue to innovate green financial products and business models, build a green service system of "exclusive products + standard products", continue to consolidate our competitive advantages in the field of green finance, and become stronger and better. Create" brand.
Adhere to the "long-term principle", deeply integrate the development of green and low-carbon credit card business into the consumption scenarios of residents, and lead the concept of green and low-carbon life . The scale of the green consumption market is rapidly expanding, and the new trend of green consumption is also constantly upgrading. Green finance has become a key direction for financial institutions in recent years. As a carrier of financial consumption, credit card business has become the main entrance for banks to deploy green and low-carbon fields. SPD Credit Card uses "low-carbon credit card + APP" as the carrier to accelerate the layout of green financial innovation, deepen the green financial service model of "green low-carbon credit card + APP green low-carbon zone + rights and interests service system", and expand green financial services in an all-round way to help green economic development. On the one hand, continue to upgrade the green and low-carbon service system, continuously deepen the integration of consumption scenes and life scenes, from low-carbon credit cards to low-carbon finance to low-carbon life, stimulate green consumption, and divert green scenes to help achieve the goal of "double carbon" Contribute financial power; on the other hand, combine the green consumption rights of users' consumption behaviors to promote the practice of green and low-carbon lifestyles, help consumers truly develop the habits and concepts of green life, and then help the development of a green and low-carbon society.
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