Corporate Social Responsibility Report
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2015 CORPORATE SOCIAL CSR RESPONSIBILITY REPORT 2015 CORPORATE SOCIAL CSR RESPONSIBILITY REPORT Introduction “BoCom must learn from history while looking into the future. We need to improve its corporate governance system, transform its internal management mechanism, and accelerate innovation in business model, achieving transformation and development in deepened reforms. We should also focus on supporting the real economy and actively undertaking our economic, political and social responsibilities, writing a new chapter of glory for the bank.” —Niu Ximing, Chairman of BoCom Company Profile Shanghai Head Office Singapore Branch Beijing Management Department he Shanghai-based Bank of Communications Co., Ltd. (BoCom) is one of China’s five Bank of Communications largest State-owned commercial banks. By the end of the reporting period ending Dec 31, (Luxembourg) S.A., 2015, BoCom had 30 provincial branches and seven branches under the direct supervi- sion of the head office in the Chinese mainland, with 3,141 outlets in 235 cities at or above T the prefecture level. The bank also had 15 institutions outside the Chinese mainland1, Sydney Branch Ho Chi Minh City Branch including the branches in Hong Kong, New York, San Francisco, Tokyo, Singapore, Seoul, Frankfurt, Macau, Ho Chi Minh City, Sydney, Brisbane and Taipei as well as Bocom UK Ltd., Bank of Communica- tions (Luxembourg) S.A. and the Toronto Representative Office, whose outlets numbered 56. Its employees totaled 91,468. BoCom is one of China’s major financial services providers and has grown into an international banking Macau Branch group, which covers commercial banking, investment banking, securities, trusts, financial leasing, fund Hong Kong Branch management, insurance, and offshore financial services. Its wholly owned subsidiaries include the Bocom UK Ltd., BOCOM International Holdings Co., Ltd., China BOCOM Insurance Co., Ltd., and Bank of Communica- tions Financial Leasing Co., Ltd. Its controlled subsidiaries include the Bank of Communications Schroder Fund Management Co., Ltd., Bank of Communications International Trust Co., Ltd., BoCommLife Insurance Co., Ltd., Dayi Bocom Xingmin Rural Bank Co., Ltd., Anji Bocom Rural Bank Co., Ltd., Shihezi Bocom Rural Bank Co., Ltd., and Laoshan Bocom Rural Bank Co., Ltd. BoCom is San Francisco Branch also the largest shareholder of the Changshu Rural Commercial Bank Co., Ltd., one of the largest shareholders of the Bank of Tibet, and a strategic investor in the Bank of Hainan. BoCom has ranked among the Fortune 500 for the seventh consecutive year, rising to the 190th place by revenue. The bank also came in at 17th on The Banker’s list of the Top 1000 World Banks, in Tier-1 capital, making it into the top 20 for the second time. The top three international credit rating agencies give it a Grade-A Taipei Branch rating. Frankfurt Branch New York Branch th BoCom, which was founded in 1908 (34 year of Emperor Guangxu’s reign in the Qing Dynasty), is the Brisbane Branch oldest commercial bank in China as well as one of the century-old Chinese commercial banks and one of the four biggest banks in the early days of China’s banking sector, playing an important role in the modern history of Chinese financial industry. In 1987, it was reorganized and began to operate as Tokyo Branch China’s first State-owned joint-stock commercial bank based in Shanghai and with outlets across the country. In 2005, BoCom was listed on the Hong Kong Stock Exchange, which made it the first State- owned commercial bank to go public outside the Chinese mainland. In 2007, the bank was listed on the Toronto Representative Office Shanghai Stock Exchange. At the end of the reporting period, BoCom’s top three shareholders were China’s Ministry of Finance, HSBC, and the National Council for Social Security Fund. [1] Including Hong Kong, Macau, and Taiwan. Seoul Branch Contents Economic Environmental 1 Strategy and Profile 2 Responsibility 3 Responsibility 1.1 Message from the Chairman 03 2.1 Global Presence and Diversified Business 17 3.1 Green Credit 35 Social Vision of 1.2 Report from the President 05 2.2 The Real Economy 23 3.2 Green Services 38 4 Responsibility 5 the Future 1.3 Key Performance 09 2.3 People’s Well-being 29 3.3 Green Operations 41 1.4 Managing Responsibility 11 4.1 Customer Services 47 5.1 Vision of the Future 69 4.2 Employee Care 55 5.2 Statement of Assurance 71 4.3 Committed to Charity 61 5.3 GRI Index 73 5.4 ESG Index 75 STRATEGY AND PROFILE You must study it broadly, investigate it in detail, deliberate on it carefully, discern it clearly and practice it universally. — “ Doctrine of the Mean ”, Book of Rites, Western Han Dynasty 01-02 business model, and deepening the reform of commercial banks’ internal financial mechanisms. With 20 projects launched, we achieved remarkable results in such aspects as promoting the adoption of a divisional structure, remuneration and appraisal mechanism, and the mechanism for resource allocation. Such efforts provided other large State-owned commercial banks with valuable experience in deepening reform. We also made impressive progress in applying information technology. The 531 Project launched five years ago was fully implemented, providing systemic support for the transformation of the bank. It brought about the deep Message from integration of bank-wide customer information, business processes, external communication channels, system functions, and data models. The project marked another milestone in BoCom’s efforts to promote IT the Chairman application, following the concentration of data. Promoting inclusive finance for the real economy. In response to China’s major strategies, BoCom worked to serve important areas of the real economy, continued to improve its credit structure, and offered active support to major national and local projects concerning people’s well-being. We established a dedicated Department of Small Business Finance and made clear the objective and development strategy of operations targeted at micro- and small enterprises. In this way, the bank would help bolster popular entre- preneurship and innovation. While serving the development of central and western China, the bank gave generous financial support to agriculture, rural areas and farmers, science, education, culture and health services, the construction of low-income housing, and personal consumption. Such efforts helped to improve people’s lives and promote the coordinated development of the economy and society. Environmental friendliness for a better China. In the past year, we translated the idea of environmental friendliness into action in every aspect of business operation and management. In response to China’s green development strategy, we continued to boost green credit and gave greater credit support to circular economy, conservation of resources, and other fields of energy saving and environmental protection. E-banking was promoted considerably, as evidenced by the 88.13 percent share of business conducted online. That led to an equivalent reduction of CO2 emissions by nearly 8,502.05 tons. Green operations and green procurement were pushed forward steadily. The bank took part in various environmental activities, organized the public interest activity “Reward Points for Blue Sky”, and launched the BoCom Youth Forest project, making wise moves to help improve the ecological environment. Contributing to targeted poverty reduction for the public good. In 2015, we intensified efforts to promote targeted poverty reduction and help improve the living and working conditions of vulnerable groups. It was the 13th consecutive year that BoCom had assisted the Tianzhu County of Gansu Province. The bank invested over the years a total of more than 32 million yuan and launched more than 30 assistance projects in this Niu Ximing, Chairman of BoCom county that benefited 128,000 people. For that, BoCom is widely acclaimed among the people of all ethnic groups in Tianzhu County. We also gave strong support to the special education of persons with disabilities. The bank’s “For Tomorrow” program, launched in 2007, had donated a total of 100 million yuan for promoting education of the disabled. We helped people affected by natural disasters to pull through the hard times. The bank’s employees were actively involved in public interest activities as volunteers regarding assistance for poor students and needy communities, living up to BoCom’s image as a good corporate citizen. Every step we take now leads to the dream far away. In 2016, we will continue to leverage on the strength of In 2015, China’s banking sector forged ahead with reform and innovation; BoCom made impressive achieve- BoCom as a century-old financial enterprise, carry on the spirit of entrepreneurship, responsibility and ments in deepening reform and effecting transformation. Bearing in mind the mission of BoCom, all employ- innovation, promote the deepening of reform, transformation and strict Party discipline, manage social ees across the bank worked together in following the national macro-control policy, focusing on supporting the real responsibility better, and strengthen the communication with stakeholders so as to make greater contribu- economy, promoting the BOCOM strategy, fulfilling social responsibility, and striving to deliver a desirable perfor- tions to the realization of the Chinese dream – the great rejuvenation of the Chinese nation. mance in economic, environmental and social terms under the “new normal” of economic development. Leading the industry based on reform and innovation. The bank’s plan for deepening reform was approved by the State Council in 2015, making it a pioneer among all State-owned banks in developing mixed ownership. We identified three major priorities, i.e. exploring a governance mechanism with Chinese characteristics for large State-owned commercial banks, promoting transformation and innovation in March 29,2016 03-04 top executives bought H shares of the company, making BoCom the first listed company whose senior management hold both A and H shares.