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Office of ICBC in Xian, photo courtesy of Vmenkov [GFDL or CC BY-SA 3.0], via Wikimedia Commons
about ICBC

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.  


ownership
listed on Hong Kong Stock Exchange, Shanghai Stock Exchange

image
headquarters
No. 55 Fuxingmennei Avenue, Xicheng District
100032 Beijing
China
CEO/chair
Mr. Jiang Jianqing
CEO
 
banktrack contact

Tianju Wang, Greenovation Hub

Yu Xiaogang, Green Watershed

Katharine Lu, Friends of the Earth US


tracked by
voluntary initiatives:

investment policies of ICBC

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.

2008

  • 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.

2009

  • None

2010

  • 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”.

2011
  • 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.

2012

  • 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.

2013

  • 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.

2014
  • 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. 

2015
  • 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. 
ICBC Corporate Responsibility Report 2015
Mar 30, 2015 | ICBC

human rights
True leader Front runner Follower Laggard
BankTrack has assessed ICBC on its implementation of the UN Guiding Principles on Business and Human Rights. ICBC is assessed as a Laggard, with a total score of 0.5/12.
PolicyDue dil.ReportingRemedy
0/30/30.5/30/3
For more details, see Banking with Principles? 2016 update.
image
headquarters
No. 55 Fuxingmennei Avenue, Xicheng District
100032 Beijing
China
CEO/chair
Mr. Jiang Jianqing
CEO
 
banktrack contact

Tianju Wang, Greenovation Hub

Yu Xiaogang, Green Watershed

Katharine Lu, Friends of the Earth US


tracked by
Bauxite mine Niyamgiri Hills
India
On October 5th, 2004 an official agreement was signed between the Orissa Mining Corporation (OMC) and Sterlite Industries, a subsidiary of Vedanta Resources plc, for the…
El Mirador Copper Mine
Ecuador
El Mirador is a copper mine project located in the Southeast Ecuador, widely considered one of the most biodiverse regions in the world. In 2010, two Chinese state owned…
Great Barrier Reef Coal & Gas Exports
Australia
Australia is on the verge of an unprecedented coal boom. The epicentre of this expansion is the yet-to-be-developed Galilee Basin in Central Queensland. Galilee is the proposed…
Mountain top removal coal mining
United States
Mountain top removal (MTR) mining is a form of strip mining in which coal companies use explosives to blast as much as 800 to 1,000 feet off the tops of mountains order to…
Pacific Refinery
Ecuador
The Ecuadorean government has been in negotiations with China since 2011 about the financing of a new project to increase domestic refining capacity. Despite Ecuador's rich…
Patuca III dam project (Piedras Amarillas)
Honduras
The Patuca River is the second-longest river in Central America, flowing through the largest protected area of Honduras: the Rio Plátano Biosphere Reserve. The planned…
Shwe gas and pipelines projects
Myanmar
The ‘Shwe' (meaning ‘golden' in Burmese) projects entail exploitation of underwater natural gas deposits off the coast of western Burma's Arakan State and dual…
check dodgy deals on record
image
headquarters
No. 55 Fuxingmennei Avenue, Xicheng District
100032 Beijing
China
CEO/chair
Mr. Jiang Jianqing
CEO
 
banktrack contact

Tianju Wang, Greenovation Hub

Yu Xiaogang, Green Watershed

Katharine Lu, Friends of the Earth US


tracked by

BankTrack has identified controversial issues with the companies listed below that require attention from Industrial Commercial Bank of China.

APRIL
Indonesia
Asia Pacific Resources International Holdings Limited, or APRIL, is Indonesia's second largest pulp and paper producer. It develops fibre plantations and it is the owner…
Arch Coal
United States
Arch Coal is an American coal mining and processing company. The company mines, processes, and markets bituminous and sub-bituminous coal with low sulfur content in the United…
Asia Pulp and Paper - APP
Indonesia
APP is the pulp and paper susbidiary of the Sinar Mas Group, and is one of the largest pulp and paper companies in the world. The Sinar Mas Group was founded in 1962…
Enel
Italy
Enel is Italy's largest power company and Europe's second largest according to its generating capacity. Its interests stretch beyond Italy to 40 countries on four continents.…
ENGIE
France
ENGIE (known as GDF SUEZ until April 2015) is the largest independent power producer in the world. In 2013 it operated 600 power plants worldwide. It had 113.7 GW of installed…
Glencore
Switzerland
Glencore plc (formerly Glencore Xstrata) is an Anglo-Swiss multinational commodity trading and mining company. The company was created through a merger of Glencore with Xstrata…
Shenhua Group
China
Shenhua Group is a wholly state-owned company founded in 1995 directly under the central government. It is the largest coal producing company in the world. It takes coal…
check company profiles on record
image
headquarters
No. 55 Fuxingmennei Avenue, Xicheng District
100032 Beijing
China
CEO/chair
Mr. Jiang Jianqing
CEO
 
banktrack contact

Tianju Wang, Greenovation Hub

Yu Xiaogang, Green Watershed

Katharine Lu, Friends of the Earth US


tracked by

 = dodgy deal
 = company profile
image
headquarters
No. 55 Fuxingmennei Avenue, Xicheng District
100032 Beijing
China
CEO/chair
Mr. Jiang Jianqing
CEO
 
banktrack contact

Tianju Wang, Greenovation Hub

Yu Xiaogang, Green Watershed

Katharine Lu, Friends of the Earth US


tracked by
2016 2014 2013 2011 2010 2009 2008 2007
image
headquarters
No. 55 Fuxingmennei Avenue, Xicheng District
100032 Beijing
China
CEO/chair
Mr. Jiang Jianqing
CEO
 
banktrack contact

Tianju Wang, Greenovation Hub

Yu Xiaogang, Green Watershed

Katharine Lu, Friends of the Earth US


tracked by
image
headquarters
No. 55 Fuxingmennei Avenue, Xicheng District
100032 Beijing
China
CEO/chair
Mr. Jiang Jianqing
CEO
 
banktrack contact

Tianju Wang, Greenovation Hub

Yu Xiaogang, Green Watershed

Katharine Lu, Friends of the Earth US


tracked by
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