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Last update: 2016-09-09 12:45:53
Tianju Wang, Greenovation Hub
Yu Xiaogang, Green Watershed
Katharine Lu, Friends of the Earth US
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ICBC (Industrial and Commercial Bank of China) is a joint-stock commercial bank based in the People's Republic of China. Founded in 1984, ICBC overtook Citi to become the world's largest bank by asset value in 2007, a position it retains in 2014. ICBC has expanded its operations outside of China through mergers and acquisitions, as well as registering branch offices in foreign countries. Its most important overseas strategic investor is Goldman Sachs. In 2007, ICBC acquired PT. Bank Indonesia and Heng Seng bank, as well as a 20% stake in Standard Bank of South Africa. It also set up offices in Russia, Dubai, Doha, Sidney and New York.
In 2015, the bank was named "Best Emerging Markets Banks" by Euromoney, and ranked 1st place among the Top 1000 World Banks by the Banker. As at the end of 2015, total assets of ICBC amounted to USD 3,300 billion and the total liabilities of the bank amounted to USD 3,052 billion.
No. 55 Fuxingmennei Avenue, Xicheng District
Mr. Jiang Jianqing |
Annual Report 2015|
Corporate Social Responsibility Report 2015
listed on Hong Kong Stock Exchange & Shanghai Stock Exchange
Voluntary initiativesICBC has committed itself to the following voluntary standards:
The bank has declared in its CSR policy improvements listed below. You can find policy texts under "Documents" section if the bank has disclosed any of them.
- Developed clear industry-specific credit lending policies for steel (alloy), electricity, aluminum, coke, copper smelting, pulp and paper, as well as for nationally defined high emission and high energy consumption industries; maintained and managed a list of companies that fall within the above industries; and created protocols for withdrawing from industries where customers are not valued or companies fall behind productive capacity.
- Three-year strategic goal of increasing green credit through developing green credit concepts, frameworks, and implementation steps.
- In accordance with relevant national policies on environmental protection, resource conservation, and carbon emissions reduction, ICBC has formulated “Opinions on Strengthening of Green Credit Construction”, “Views on Further Energy-saving and Emission-reducing Credit Support”, “Classification and Management of the Domestic Corporate Green Credit Loans” and other rules and regulations; the bank also produced such environmental risk policies as “ICBC Post-Loan Management Approach Focusing on Environmental Protection by Industrial Customers” and “Notice on Further Strengthening of Loan Environmental Risk Prevention and Control Procedures”.
- The bank published the Implementation Outline for Green Credit Development. It clarified at the strategy level the basic aims and principles and key points for the implication of green credit development, and specified the direction and requirements for the building of the green credit system across the Bank in the future in terms of credit culture, classified management, policy system, process management, product and service innovation, evaluation mechanism and ability development.
- According to relevant policies of the State concerning environmental protection, energy conservation and emission reduction, the Bank, has during the reporting period, successively made a series of policies, including the Notice on Optimizing and Improving the Green Credit Classification of Corporate Customers, the Notice on Printing and Distributing the Post- credit Management Procedure for Environmental Protection Industries under Key Attention, the Notice on Strengthening the Risk Control on Enterprises with Outdated Capacities, the Notice on Strict Control over the Credit Risk Associated with Small & Medium Lead-related Enterprises, the Notice on Strengthening the Prevention and Control of the Environmental Risk of Industries Involving Cadmium, Mercury, Chrome and Metalloid Arsenic and the Notice on Accelerating work in relation to Loan Exit from Small & Medium Lead Accumulator Enterprises. The Bank further improved the classification system for green credit, carried out and strengthened the monitoring of environmental risk, post- credit inspection, post-credit risk control requirements and post-credit management responsibilities with respect to customers in industries with a key focus on environmental protection, clarified the working mechanism and management requirements for risk control associated with enterprises with outdated capacities.
- Amendment of its approach to "the disclosure and management of social responsibility information," in response to the developing trends of corporate citizenship and stakeholder demands.
- Update of its "industrial (green) credit policies", which already cover 85 percent of corporate loans to(China's) 54 industries, and will put more emphasis on the main factors of industrial pollution, resource consumption, energy savings, and environmental protection,and integrate these with the core targets of the whole industrial (green) credit policies.
- Publication of the "Notification regarding the increase of emission controls of heavy metal industries' commercial loan credit risk management," which takes the credit risk management for heavy metal industries one step further and specifies the involvement of heavy industry emissions in the scope of key industries.
- The Bank established correlation between green credit classification and enterprise ratings, and transplanted the correlation to the credit process. It is required to timely identify the green credit classification label of customers throughout the procedure of due diligence, credit rating and grant, review and approval, contract signing, release approval and post-loan management, and use it as a key reference to make general evaluation and credit decision.
The bank strengthened financing risk control for enterprises involving "phasing out outdated production facilities". It urged to enhance management of financing related to the phasing out, timely organized bank-wide risk screening, and urged customers to complete the phasing out. ICBC continued to enhance financing risk control in areas involving heavy metal emission through rigid control methods such as financing suspension system that helped to step up reduction and withdrawal of existing financing as well as strict control over new financing.
- The bank redefined the Green Development Strategy. The growth rate of loans supporting the green economy was 3.99 percentage point higher than that of overall corporate loans.
BankTrack campaigns and ICBC
True leader Front runner Follower Laggard
BankTrack has assessed ICBC on its implementation of the UN Guiding Principles on Business and Human Rights in June 2016. ICBC is assessed as a Laggard, with a total score of 0.5/12.