China Securities Journal – Shanghai Securities News (Reporter: Ma Min) – On September 21, the “Ecological Carbon Neutral Forest” public welfare project, jointly initiated by Fofund and the China Green Carbon Foundation together with multiple domestic financial institutions, officially launched in Yan’an. The first tree-planting event under the theme “Green Finance · Planting the Future Together” was successfully held on-site.

    At the event, nearly 20 representatives from Agricultural Bank Wealth Management, Industrial Bank Wealth Management, Minsheng Wealth Management, Everbright Wealth Management, Bank of Beijing Wealth Management, and CR Trust planted nearly 100 Chinese arborvitae saplings, marking the official implementation of the project.

Tree planting event site (photo provided by Fofund)

    Since 2022, Fofund and the China Green Carbon Foundation have successfully planted more than 20,000 Chinese arborvitae trees in Yan’an County. According to scientific estimates, these trees are expected to sequester more than 2,000 tons of carbon dioxide over their full life cycle. As a key area of the “Three-North Shelterbelt Program,” Yan’an County plays a pivotal role in the ecological restoration of the “Great Bend of the Yellow River.” This initiative actively responds to the program’s goals while injecting new vitality into both ecological restoration and rural revitalization efforts in Northern Shaanxi.

Surrounding environment of the “Ecological Carbon Neutral Forest”(photo provided by Fofund)

    At the beginning of 2024, a joint proposal for the “Ecological Carbon Neutral Forest” was officially released in Beijing by several bank-affiliated wealth management subsidiaries, Fofund, and the China Green Carbon Foundation. This marked the first time that institutional investors in China jointly launched a public welfare project dedicated to ecological carbon neutrality. As of September 2024, eight financial institutions – Agricultural Bank Wealth Management, CITIC Wealth Management, Industrial Bank Wealth Management, China Asset Management Wealth, Minsheng Wealth Management, Everbright Wealth Management, Bank of Beijing Wealth Management, and CR Trust – have actively responded and joined the initiative.

    Representatives from these institutions believe the project aligns strongly with the principles of green development and offers a concrete way for the financial industry to fulfill its corporate social responsibility. It also expands practical pathways for advancing the “Green Finance” agenda, one of the key pillars in China’s “Five Major Articles.”

    On the day of the tree planting, representatives visited Liangjiahe Village in Yan’an County for a learning and exchange session. Later, Hou Yuanqing, Deputy Secretary-General of the China Green Carbon Foundation, delivered an on-site lecture on forestry-based carbon neutrality projects. He emphasized the synergistic benefits of addressing climate change and protecting biodiversity, and further elaborated on the role financial institutions can play in achieving carbon neutrality goals.

ESG training session (photo provided by Fofund)

    At the conclusion of the event, institutional representatives expressed their intention to take this tree planting activity as a new starting point, striving to contribute to the "great cause of green finance" and promote high-quality economic development in China. The inaugural tree planting event under the “Ecological Carbon Neutral Forest” initiative not only showcased the financial industry’s commitment to green development but also marked a significant step forward in addressing climate change and supporting China’s ecological and sustainable development goals. With the participation of more financial institutions in the future, the initiative is poised to make an even greater contribution to the nation’s carbon neutrality efforts.