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Last update: 2023-01-06 14:30:23

Active

This profile is actively maintained

Last update: 2023-01-06 14:30:23

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About

Website	http://www.bankcomm.com/BankCommSite/shtml/jyjr/en/2600212/list.shtml?channelId=
Headquarters	188 Yinchengzhong Road 200120 Shanghai China
CEO/chair	Ren Deqi Chairman, Executive Director
Supervisor	China Banking and Investment Regulatory Commission (CBIRC)
Ownership	listed on Hong Kong Stock Exchange & Shanghai Stock Exchange Bank of Communications' complete shareholder structure can be accessed here.

Founded in 1908, Bank of Communications is one of the major financial services providers in China. The Bank's business includes commercial banking, insurance and offshore financial services. It has branches in Hong Kong, New York, Tokyo, Singapore, Seoul, Frankfurt, Macau and Ho Chi Minh City and representative offices in London, Sydney and Taipei. Subsidiaries controlled by the Bank include BOCOM Schroder Fund Management, BOCOM International Trust and BOCOM Insurance.

Sustainability

Commitments

Policies

Voluntary standards

Bank of Communications does not have a web page on corporate social responsibility, nor does it have publicly available investment policies. The bank only lists its most recent annual CSR reports.

Guidelines on environmental information disclosure for financial institutions

Bank policy

2021-07-22 00:00:00 | People's Bank of China

Bank of Communications has committed itself to the following voluntary standards:

Carbon Disclosure ProjectTags: carbon | climate change | greenhouse gas emissions

Global Reporting InitiativeTags: sustainable development | human rights

Guidelines for Ecological Environmental Protection of Foreign Investment Cooperation and Construction ProjectsTags: China | corporate social responsibility

Dodgy Deals

Bank Of Communications is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Bank Of Communications's link to these deals.

Projects / Companies

Finance type

Year

News

BankTrack

Partners

Blog

External

Blog

BankTrack news BankTrack blog Partner news Partner blog

Decarbonization: steel not making the cut

Analysis by Reclaim Finance shows that few financial institutions have steel targets, and that those that have been adopted are riddled with flaws

2023-08-23 | Reclaim Finance

Blog

BankTrack news BankTrack blog Partner news Partner blog

New report: Canadian bank RBC the #1 financier of fossil fuels, world’s biggest banks continued to pour billions into fossil fuel expansion

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations

2023-04-13 | San Francisco | BankTrack, urgewald, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club

BankTrack news BankTrack blog Partner news Partner blog

Santos announces refinancing of syndicated debt facilities

Santos announced it had executed documentation to amend and extend its two syndicated bank loan facilities totalling US$1.25 billion.

2022-08-30 | Santos

Blog

BankTrack news BankTrack blog Partner news Partner blog

New report: Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations

2022-03-30 | San Francisco, Bemidji, Nijmegen, Oakland, Paris, Sassenberg, Washington DC | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club, Urgewald

Blog

BankTrack news BankTrack blog Partner news Partner blog

A future without coal: banking on Asia's just energy transition

2021-11-10 | Fair Finance Asia

Blog

BankTrack news BankTrack blog Partner news Partner blog

Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit

210+ groups support urgent call to action

2021-09-23 | BankTrack

Blog

BankTrack news BankTrack blog Partner news Partner blog

Forests & Finance Coalition warns foreign investors about the risk of the anti-environment agenda in the Brazilian Congress

2021-08-19 | Forests & Finance

BankTrack news BankTrack blog Partner news Partner blog

Chinese banks urged to divest from firms linked to deforestation

China funnelling billions into harmful production of beef, soy and palm oil, says campaign group

2021-06-09 | The Guardian

Blog

BankTrack news BankTrack blog Partner news Partner blog

Under the spotlight: Chinese banks' risky agribusiness portfolio

New Global Witness analysis shows Chinese banks are pouring billions into destructive agribusiness linked to global deforestation, highlighting huge gaps in environmental and social risk management

2021-06-07 | Global Witness

Blog

BankTrack news BankTrack blog Partner news Partner blog

China is world’s second largest financier of deforestation-linked commodities

New study finds significant risk associated with nearly 15 billion USD in loans and underwriting by Chinese financial institutions

2021-05-04 | BankTrack, Forests & Finance, Profundo, Rainforest Action Network

Blog

BankTrack news BankTrack blog Partner news Partner blog

Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement

Even amidst the global economic downturn, fossil fuel financing numbers were higher in 2020 than 2016

2021-03-24 | Nijmegen | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club

BankTrack news BankTrack blog Partner news Partner blog

Cambodia: Communities impacted by Lower Sesan 2 Hydropower Project seek IFC dispute resolution process; Companies' responses

2021-02-22 | BHRRC

Blog

BankTrack news BankTrack blog Partner news Partner blog

Global finance sector failing to apply conservation criteria to pulp and paper funding

2020-03-21 | New York/Amsterdam | Environmental Paper Network

Blog

BankTrack news BankTrack blog Partner news Partner blog

The Chain: Paradise Papers Links APRIL’s Tax Avoidance to Deforestation and Banks, Could Impact USD 500 Million Loan

2017-11-16 | Chain Reaction Research

Blog

BankTrack news BankTrack blog Partner news Partner blog

New online platform reveals banks and investors financing companies linked to tropical forest loss in Southeast Asia

Financial sector under the spotlight in new international push to protect forests and forest communities

2016-09-06 | Singapore | Rainforest Action Network

Blog

BankTrack news BankTrack blog Partner news Partner blog

China digs in conflict-ridden Burma for oil and gas

2011-09-06 | Bangkok | Finance GreenWatch

Resources

Documents

Links

Banking on Climate Chaos 2023

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations

BankTrack publication

2023-04-13 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club, Urgewald

Background briefing: Just 7% of global banks' energy financing goes to renewables, new data shows

BankTrack publication

2023-01-27 00:00:00 | Profundo for Sierra Club, Fair Finance International, BankTrack, Rainforest Action Network

Who is Who No. 3 - Chinese commercial banks: an NGO guide

Partner publication

2023-01-23 00:00:00 | Urgewald

CSR report 2021

Annual report

2022-07-05 00:00:00 | Bank of Communications

Annual report 2021

Annual report

2022-04-12 00:00:00 | Bank of Communications

Banking on Climate Chaos 2022

Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021

BankTrack publication

2022-03-30 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club, urgewald

Recipients of the letter about the risk of the anti-environment agenda in the Brazilian Congress

NGO document

2021-08-19 00:00:00 | BankTrack

CSR Report 2020

Annual report

2021-08-03 00:00:00 | Bank of Communications

Guidelines on environmental information disclosure for financial institutions

Bank policy

2021-07-22 00:00:00 | People's Bank of China

Annual report 2020

Annual report

2021-04-23 00:00:00 | Bank of Communications

Annual report 2019

Annual report

2020-07-31 00:00:00 | Bank of Communications

CSR report 2019

Annual report

2020-07-31 00:00:00 | Bank of Communications

CSR report 2018

Annual report

2019-07-31 00:00:00 | Bank of Communications

CSR report 2017

Annual report

2018-07-31 00:00:00 | Bank of Communications

Financiers of IOI and Asia Pulp & Paper (APP) face material ESG risks from failure to respect land tenure rights

NGO document

2017-03-27 00:00:00 | RAN, TuK & Profundo

Tycoon-controlled oil palm groups in Indonesia - Executive Summary

NGO document

2015-02-16 00:00:00 | TuK, Profundo

Going out, but going green?

Assessing the implementation of China's Green Credit Guidelines

BankTrack publication

2014-11-25 00:00:00 | BankTrack, Friends of the Earth US

Green Credit Footprint of Chinese banks (2008-2012)

-Chinese version-

NGO document

2013-11-25 00:00:00 | Green Watershed

Environmental report on Chinese banks 2011

-English summary-

NGO document

2012-11-26 00:00:00 | Green Watershed

Letter from BankTrack et al. to various financial institutions on APP

Correspondence

2012-11-06 00:00:00 | BankTrack et al.

Environmental Report on Chinese Banks (2011)

-Chinese version-

NGO document

2012-04-18 00:00:00 | Green Watershed

Executive Summary of Environmental Report on Chinese Banks (2011)

NGO document

2012-03-28 00:00:00 | Green Watershed

Notice of the CBRC on Issuing the Green Credit Guidelines

Bank document

2012-02-24 00:00:00 | China Banking Regulatory Commission

民间环保组织就陆良化工铬污染事件致16家中资上市银行的公开信（Chinese）

Correspondence

2011-08-29 00:00:00 | Green Watershed

An Open Letter from a Coalition of Environmental NGOs to 16 Chinese banks Regarding the Chromium Pollution Incident in Luliang(English)

Correspondence

2011-08-29 00:00:00 | Green Watershed

Environmental Record of Chinese Banks 2010

NGO document

2011-07-06 00:00:00 | Green Watershed

China Sustainable Finance Newsletter #12 -English-

NGO document

2011-06-24 00:00:00 | Friends of the Earth US

EPN assessment of policies against 14 minimum criteria - Bank of Communications

Environmental Paper Network (EPN) evaluated the policies of 68 major financiers of the pulp and paper industry against 14 absolute minimum criteria that all financial institutions should require their clients, investments and business partners to respect in order to reduce social and environmental risks.

Accountability

Grievances

Bank of Communications does not operate a complaints or grievances channel for individuals or communities that may be adversely affected by its finance.

This page evaluates Bank of Communications's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed

Responded?

Total score

Response

Action

Monitoring

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Banks and Climate

The 2023 Banking on Climate Chaos report showed that Bank of Communications provided US$ 45.142 billion in financing to the fossil fuel industry between 2016 and 2022. Find further details on Bank of Communications' fossil fuel portfolio and how it compares to other large banks globally on Fossil Banks No Thanks and in the Banking on Climate Chaos report.

Fossil fuel finance data Bank of Communications

Banking on Climate Chaos fossil fuel finance data

Partner organisation Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in their Coal Policy Tool (CPT) and the Oil and Gas Policy Tracker (OGPT). BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of Bank of Communications' fossil fuel policy below.

Assessment of Bank of Communications coal policy in the Coal Policy Tool

Assessment of Bank of Communications oil and gas policy in the Oil and Gas Policy Tracker

Banks and Nature

Bank of Communications’ policies for forest-risk sectors (beef, soy, palm oil, pulp and paper, rubber and timber) have been assessed by the Forests & Finance coalition, achieving an overall score of 0 out of 10 and ranking it as a laggard. Bank of Communications achieved a score of 0 out of 10 specifically for its policies related to the beef sector and 0 out of 10 for its policies related to the palm oil sector. In addition, BankTrack and the Environmental Paper Network have assessed Bank of Communications' policies related to the pulp and paper sector.

Between 2016 and 2022, Bank of Communications provided USD 839 million in credit to companies operating in these forest-risk sectors. For more information, see the links below.

Forests & Finance

Banks and beef

Banks and palm oil

Banks and pulp & paper

BankLast update

Country

Score

Ranking

Details

Bank of Communications

2022-09-21

CHN

Laggard 0

Explanation

A bank can obtain a total of 10 points for the quality of its policies. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard

Follower

Front runner

Leader

0 - 1 points

1 - 4 points

4 - 7 points

7 - 10 points

For more details see this page.

BankLast update

Country

Score

Ranking

Details

Bank of Communications

2022-09-21

CHN

Laggard 0

Explanation

A bank can obtain a total of 10 points for the quality of its beef policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard

Follower

Front runner

Leader

0 - 1 points

1 - 4 points

4 - 7 points

7 - 10 points

For more details see this page.

BankLast update

Country

Score

Ranking

Details

Bank of Communications

2022-09-21

CHN

Laggard 0

Explanation

A bank can obtain a total of 10 points for the quality of its palm oil policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard

Follower

Front runner

Leader

0 - 1 points

1 - 4 points

4 - 7 points

7 - 10 points

For more details see this page.

Send feedback on this profile

Active

Active

Guidelines on environmental information disclosure for financial institutions

Decarbonization: steel not making the cut

New report: Canadian bank RBC the #1 financier of fossil fuels, world’s biggest banks continued to pour billions into fossil fuel expansion

Santos announces refinancing of syndicated debt facilities

New report: Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021

A future without coal: banking on Asia's just energy transition

Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit

Forests & Finance Coalition warns foreign investors about the risk of the anti-environment agenda in the Brazilian Congress

Chinese banks urged to divest from firms linked to deforestation

Under the spotlight: Chinese banks' risky agribusiness portfolio

China is world’s second largest financier of deforestation-linked commodities

Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement

Cambodia: Communities impacted by Lower Sesan 2 Hydropower Project seek IFC dispute resolution process; Companies' responses

Global finance sector failing to apply conservation criteria to pulp and paper funding

The Chain: Paradise Papers Links APRIL’s Tax Avoidance to Deforestation and Banks, Could Impact USD 500 Million Loan

New online platform reveals banks and investors financing companies linked to tropical forest loss in Southeast Asia

China digs in conflict-ridden Burma for oil and gas

Banking on Climate Chaos 2023

Background briefing: Just 7% of global banks' energy financing goes to renewables, new data shows

Who is Who No. 3 - Chinese commercial banks: an NGO guide

CSR report 2021

Annual report 2021

Banking on Climate Chaos 2022

Recipients of the letter about the risk of the anti-environment agenda in the Brazilian Congress

CSR Report 2020

Guidelines on environmental information disclosure for financial institutions

Annual report 2020

Annual report 2019

CSR report 2019

CSR report 2018

CSR report 2017

Financiers of IOI and Asia Pulp & Paper (APP) face material ESG risks from failure to respect land tenure rights

Tycoon-controlled oil palm groups in Indonesia - Executive Summary

Going out, but going green?

Green Credit Footprint of Chinese banks (2008-2012)

Environmental report on Chinese banks 2011

Letter from BankTrack et al. to various financial institutions on APP

Environmental Report on Chinese Banks (2011)

Executive Summary of Environmental Report on Chinese Banks (2011)

Notice of the CBRC on Issuing the Green Credit Guidelines

民间环保组织就陆良化工铬污染事件致16家中资上市银行的公开信（Chinese）

An Open Letter from a Coalition of Environmental NGOs to 16 Chinese banks Regarding the Chromium Pollution Incident in Luliang(English)

Environmental Record of Chinese Banks 2010

China Sustainable Finance Newsletter #12 -English-

EPN assessment of policies against 14 minimum criteria - Bank of Communications

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Banks and Climate

Fossil fuel finance data Bank of Communications

Banking on Climate Chaos fossil fuel finance data

Assessment of Bank of Communications coal policy in the Coal Policy Tool

Assessment of Bank of Communications oil and gas policy in the Oil and Gas Policy Tracker

Banks and Nature

Forests & Finance

Banks and beef

Banks and palm oil

Banks and pulp & paper

Forest & Finance Policy Assessment 2022: Overall scores

Forest & Finance Policy Assessment 2022: Beef

Forest & Finance Policy Assessment 2022: Palm Oil