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Created before Nov 2016
Last update: 2022-01-07 10:59:43

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China CITIC Bank branche in Hangzhou. Photo: Raysonho via Wikimedia Commons (CC0 1.0)

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.

Website http://www.citicbank.com
Headquarters
Fuhua Mansion Block C, No. 8 Choayangmen Beidajie, Dongcheng District
100027 Beijing
China
CEO/chair Fang Heying
Executive Director, President and CFO
Supervisor
China Banking and Investment Regulatory Commission (CBIRC)
Annual report CSR Report 2020
Ownership
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.

Policy Assessments

Banks and Climate

Bank net zero commitments

BankLast update
Country
Target 2025
Target 2030
Net zero 2050
SBT
NZBA
CCCA
Details
China CITIC Bank
2021-03-24
CHN
999000
China
Profile
Target 2025
1
Target 2030
Net zero 2050
SBT
NZBA
CCCA
20210324
Last update: 2021-03-24
Explanation

Goal 2030: 

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

Goal 2050: 

• Net Zero Emissions by 2050 (NZE 2050) – Global coal production must fall 27% by 2025.

Explanation

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.

Abbreviations:

CCCA = Collective Commitment to Climate Action
NZBA = Net Zero Banking Alliance
SBT = Science-Based Targets

For more details see this page.

News

| |
Type:
Year:
blog
external news
our news

CBIRC releases the Green Finance Guidelines for Banking and Insurance Sectors

2022-06-02 | China Banking and Insurance Regulatory Commission
blog
external news
our news

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
external news
our news

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

2021-11-10 | Fair Finance Asia
blog
external news
our news

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
external news
our news

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
external news
our news

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
blog
external news
our news

Groundbreaking research reveals the financiers of the coal industry

Today, Urgewald & partners published an analysis of the financiers & investors behind the entire coal industry for the 1st time. One of the shocking results was that banks provide more money to coal than in 2016.
2021-02-25 | urgewald, Reclaim Finance
blog
external news
our news

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

2020-03-21 | New York/Amsterdam | Environmental Paper Network
blog
external news
our news

Massive forest fires and haze in Indonesia create public health and climate crisis

2019-09-19 | Environmental Paper Network
blog
external news
our news

COP24: New research reveals the banks and investors financing the expansion of the global coal plant fleet

Japanese banks top lenders, Chinese banks top underwriters; US companies biggest institutional investors in the coal plant pipeline
2018-12-05 | Katowice, Poland | BankTrack, urgewald
blog
external news
our news

Marubeni - playing on both sides of the energy transition

The Japanese conglomerate could be a leader in renewables, but its coal expansion plans should place it beyond the pale for responsible banks.
2018-08-01 | Lucie Pinson – Les Amis de la Terre
blog
external news
our news

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
external news
our news

New report: Towards responsible and inclusive financing of the palm oil sector

2017-11-15 | Center for International Forestry Research (CIFOR), Profundo
blog
external news
our news

Financiers of pulp and paper industry projects will cause environmental and social harm, says new report

2017-08-01 | Mandy Haggith – Environmental Paper Network
blog
external news
our news

Call for banks to divest from APRIL

Social conflict and environmental destruction are rife in its operations
2014-12-10 | Nijmegen | BankTrack, Mandy Haggith – Environmental Paper Network

Documents

Type:
Year:
our publications
2022-03-30 00:00:00

Banking on Climate Chaos 2022

Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021
2022-03-30 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club, urgewald
csr policies
2021-07-22 00:00:00

Guidelines on environmental information disclosure for financial institutions

2021-07-22 00:00:00 | People's Bank of China
ngo documents
2021-06-28 00:00:00

Asian Banks Continue to Finance the Palm Oil Refining Sector as Leakage Declines

2021-06-28 00:00:00 | Chain Reaction Research
annual reports
2021-05-04 00:00:00

CSR Report 2020

2021-05-04 00:00:00 | China CITIC Bank
our publications
2021-03-24 00:00:00

Banking on Climate Chaos 2021

Fossil Fuel Finance Report
2021-03-24 00:00:00 | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance & Sierra Club
annual reports
2021-03-09 00:00:00

Annual report 2020

2021-03-09 00:00:00 | China CITIC Bank
annual reports
2020-07-31 00:00:00

Annual report 2019

2020-07-31 00:00:00 | China CITIC Bank
annual reports
2020-07-31 00:00:00

CSR report 2019

2020-07-31 00:00:00 | China CITIC Bank
annual reports
2020-07-31 00:00:00

CSR Report 2019

2020-07-31 00:00:00 | China CITIC Bank
annual reports
2019-07-31 00:00:00

CSR report 2018

2019-07-31 00:00:00 | China CITIC Bank
ngo documents
2018-12-10 00:00:00

Bank Policy Matrix

2018-12-10 00:00:00 | Forests & Finance Coalition
correspondence
2017-11-24 00:00:00

Letter from 30 Indonesian NGOs to PT RAPP financiers on current situation of PT RAPP (APRIL's main supplier)

2017-11-24 00:00:00 | 30 Indonesian NGOs
ngo documents
2017-03-27 00:00:00

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

2017-03-27 00:00:00 | RAN, TuK & Profundo
our publications
2016-09-01 00:00:00

Green Paper, Red lines

Chinese version
2016-09-01 00:00:00 | BankTrack
our publications
2016-06-02 00:00:00

Green Paper, Red Lines

Requirements for pulp and paper industry finance
2016-06-02 00:00:00 | BankTrack, Environmental Paper Network
our publications
2014-11-25 00:00:00

Going out, but going green?

Assessing the implementation of China's Green Credit Guidelines
2014-11-25 00:00:00 | BankTrack, Friends of the Earth US
ngo documents
2013-11-25 00:00:00

Green Credit Footprint of Chinese banks (2008-2012)

-Chinese version-
2013-11-25 00:00:00 | Green Watershed
ngo documents
2012-11-26 00:00:00

Environmental report on Chinese banks 2011

-English summary-
2012-11-26 00:00:00 | Green Watershed
ngo documents
2012-04-18 00:00:00

Environmental Report on Chinese Banks (2011)

-Chinese version-
2012-04-18 00:00:00 | Green Watershed
ngo documents
2012-03-28 00:00:00

Executive Summary of Environmental Report on Chinese Banks (2011)

2012-03-28 00:00:00 | Green Watershed
bank documents
2012-02-24 00:00:00

Notice of the CBRC on Issuing the Green Credit Guidelines

2012-02-24 00:00:00 | China Banking Regulatory Commission
bank documents
2011-12-06 00:00:00

Articles of Association

2011-12-06 00:00:00 | China CITIC Bank
correspondence
2011-08-29 00:00:00

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)

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

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

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

Policies

Voluntary standards

China CITIC Bank has committed itself to the following voluntary standards:
  • Global Reporting Initiative

Investment policies

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.

Year:
csr policies
2021-07-22 00:00:00

Guidelines on environmental information disclosure for financial institutions

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

Good moves

Year:
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