China Bank Savings, Inc. has made significant strides toward becoming the leader in sustainability in the Philippine thrift banking space. This commitment is rooted in the Bank’s desire to espouse financial readiness in the communities it serves amid increasingly extreme circumstances caused by climate change. Through environmental and social (E&S) risk assessments of the Bank’s clientele and loan portfolio, the E&S risk assessment of the Bank’s own office and branch network, the increasingly more accurate measurement of the carbon footprint of the Bank’s operations, and financial wellness efforts to ensure resilience amidst climate challenges, CBS has taken steps to ensure the Bank goes above and beyond sustainability compliance.
In 2024 The CBS Board and Management approved the CBS Environmental and Social Risk Management System (ESRMS) establishing a sustainability governance structure within the CBS organization rooted within the Board Risk Oversight Committee (ROC) and the Credit, Collections, and Asset Recovery Committee (CRECOM). An Environmental & Social (E&S) Due Diligence Tool was also created and approved. The ESRMS and E&S Due Diligence tool conforms with BSP & SEC Sustainability regulations and follows industry best practices. CBS engaged Deloitte Philippines consultancy as third-party partner for this program. Deloitte Philippines was chosen for this role because of the company’s technical expertise, its extensive involvement in the formulation of BSP Sustainability policies, and its exposure to sustainability regulations and best practices worldwide. The E&S Due Diligence tool allowed the CBS Sustainability Department to perform the first ever E&S risk analysis of the CBS loan portfolio.
Please see our latest CBS Annual Report.
