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About China CITIC Bank
China CITIC Bank was founded in 1987 and is headquartered in Beijing. It was one of China's first commercial banks that engaged in financing in both domestic and international financial markets. The bank has three subsidiaries: CITIC International Financial Holdings, China Investment and Finance, and Zhejiang Lin'an CITIC Rural Bank. China CITIC Bank provides services in wealth management; credit card services; consumer credit; private banking and corporate banking.
Fuhua Mansion Block C, No. 8 Choayangmen Beidajie, Dongcheng District
Fang Heying |
Executive Director, President and CFO
|Annual report||CSR Report 2020|
listed on Hong Kong Stock Exchange & Shanghai Stock Exchange
China CITIC Bank's shareholder structure can be accessed here.
|Complaints and grievances||
China CITIC Bank does not operate a complaints or grievances channel for individuals or communities that may be adversely affected by its finance.
Banks and Climate
Bank net zero commitments
Energy: Reduce energy portfolio financed emissions by 29%, or approx. by 41.7 million mt CO2e by 2030 (143.8 million mt CO2e to 102.1 million mt CO2e)
Power: Reduce power portfolio financed emissions intensity by 63% from 313.5 kg/ CO2e/MWh to 115 kg CO2e/MWh
• Net Zero Emissions by 2050 (NZE 2050) – Global coal production must fall 27% by 2025.
This table tracks the net zero pledges and commitments of banks. It shows whether banks have committed to net zero by 2050 and have set an interim emissions reduction goal for 2025 and/or 2030. It also notes banks that have not yet set targets but have pledged to do so in the future, including by joining the Collective Commitment to Climate Action or Net Zero Banking Alliance. Finally, it notes whether banks have (pledged to) set Science-Based Targets. More information and references can be found by expanding the 'details' section of each bank.
- A blue check mark means the bank has set a target or joined the alliance. A check mark does not mean that the target set by the bank meets any particular standard, just that is has set a target. In case we have identified short comings in the target, for example when it only applies to lending and not underwriting), this is noted in the 'details' section.
- An orange dash means a bank has pledged to set a target (for example, banks commit to set 2030 and 2050 targets when they join the NZBA), but have not yet actually done so.
CCCA = Collective Commitment to Climate Action
NZBA = Net Zero Banking Alliance
SBT = Science-Based Targets
New report: Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021
Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit
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
Groundbreaking research reveals the financiers of the coal industry
Global finance sector failing to apply conservation criteria to pulp and paper funding
Massive forest fires and haze in Indonesia create public health and climate crisis
COP24: New research reveals the banks and investors financing the expansion of the global coal plant fleet
Marubeni - playing on both sides of the energy transition
The Chain: Paradise Papers Links APRIL’s Tax Avoidance to Deforestation and Banks, Could Impact USD 500 Million Loan
New report: Towards responsible and inclusive financing of the palm oil sector
Financiers of pulp and paper industry projects will cause environmental and social harm, says new report
Banking on Climate Chaos 2022
Letter from 30 Indonesian NGOs to PT RAPP financiers on current situation of PT RAPP (APRIL's main supplier)
Financiers of IOI and Asia Pulp & Paper (APP) face material ESG risks from failure to respect land tenure rights
Going out, but going green?
Voluntary standardsChina CITIC Bank has committed itself to the following voluntary standards:
China CITIC Bank has no publicly available investment policies, nor does it have a web page on corporate social responsibility. The bank only lists its recent annual CSR reports.