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2021-02-24 00:00:00
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Industrial and Commercial Bank of China (ICBC)China
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Created before Nov 2016
Last update: 2021-02-19 00:00:00

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ICBC's head office Beijing. Photo: RudolfSimon via Wikimedia Commons (CC-BY-SA 3.0)

About Industrial and Commercial Bank of China (ICBC)

The Industrial and Commercial Bank of China (ICBC) 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 retained in 2019. ICBC has expanded its operations outside of China through mergers and acquisitions, as well as registering branch offices in foreign countries. 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, Sydney and New York.

Website http://www.icbc-ltd.com/ICBCLtd/en/
Headquarters
55 Fuxingmennei Avenue, Xicheng District
10032 Beijing
China
CEO/chair Chen Siqing
Chairman and Executive Director
Supervisor
China Banking and Investment Regulatory Commission (CBIRC)
Annual report Annual Report 2019
Ownership
listed on Hong Kong Stock Exchange & Shanghai Stock Exchange

The Chinese government owns via Central Huijin Investment 34.71% of ICBC shares. ICBC's complete shareholder structure can be accessed here.

Related Dodgy Deals

Industrial And Commercial Bank Of China (ICBC) has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal.

Dodgy Deals map

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Policy Assessments

Banks, climate and energy

Bank policy scores on fossil fuel financing

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
1000000000
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 200

0 point out of 120 for oil and gas policy.

0 points out of 80 for coal policy.

See: Banking on Climate Change - policy scores

Explanation

A bank can obtain a total of 200 policy points for its overall fossil fuel policies; 120 possible points for oil and gas policies and 80 possible points for coal policies. Based on this score banks are then classified as laggards (0-50 points), followers (50.5-100 points), front runners (100.5-150 points) or leaders (150.5-200 points).

For more details see this page.

Bank policy scores on fossil fuel expansion

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
1000000000
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 89

See: Banking on Climate Change - policy scores

Explanation

The scores for a bank's policies restricting expansion of fossil fuels - in each area, prohibitions against financing projects and/or companies expanding that area - are aggregated into a fossil fuel expansion policy score.

The point-based policy ranking for fossil fuel expansion consists of the following distribution:

  • Coal mining: 14 points​
  • Coal power: 14 points
  • Other coal: 7 points
  • Tar sands: 9 points
  • Arctic oil and gas: 9 points
  • Offshore oil and gas: 9 points
  • Fracked oil and gas: 9 points
  • LNG: 9 points
  • Other oil and gas: 9 points

A bank can obtain a total of 89 policy points for its fossil fuel expansion policy. Based on this score, banks are then classified as laggards (0-22.25 points), followers (22.25-44.5 points), front runners (44.5-66.75 points) or leaders (66.75-89 points).

For more details see this page.

Bank policy scores on oil and gas financing

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
1000000000
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 120

See: Banking on Climate Change - policy scores

Explanation

For each of the six subsectors, 20 possible policy points can be obtained, so a bank can obtain a total of 120 policy points for its oil and gas policies. Based on this score banks are then classified as laggards (0-30 points), followers (30.5-60 points), front runners (60.5-90 points) or leaders (90.5-120 points).

For more details see this page.

Bank policy scores on tar sands

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
1000000000
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Explanation

The point-based policy ranking above assesses bank policies in four ways:

 1) Restriction on direct financing for tar sands projects.

  • None (0), weak exclusion (1.5), moderate exclusion (3), strong exclusion (4)

2) Restriction on financing for companies that expand tar sands.

  • None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for tar sands.

  • None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in tar sands above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its tar sands policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points). 

For more details see this page.

Bank policy scores on Arctic oil and gas

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
1000000000
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for Arctic oil and gas projects.

  • None (0), weak exclusion (1.5), moderate exclusion (3), strong exclusion (4)

2) Restriction on financing for companies that expand Arctic oil and gas. 

  • None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for Arctic oil and gas.

  • None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in Arctic oil and gas above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its Arctic oil and gas policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

Bank policy scores on offshore oil and gas

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
1000000000
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for offshore oil and gas projects.

  • None (0), weak exclusion (1.5), strong exclusion (4)

2) Restriction on financing for companies that expand offshore oil and gas.

  • None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for offshore oil and gas.

  • None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in offshore oil and gas above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its offshore oil and gas policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

Bank policy scores on fracked oil and gas

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
1000000000
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for fracked oil and gas projects.

  • None (0), weak exclusion (1.5), moderate exclusion (3), strong exclusion (4)

2) Restriction on financing for companies that expand oil and gas fracking.

  • None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for oil and gas fracking.

  • None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in oil and gas fracking above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its fracking policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

Bank policy scores on LNG

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
1000000000
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for LNG projects.

  • None (0), weak exclusion (1.5), strong exclusion (4)

2) Restriction on financing for companies that expand LNG.

  • None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for LNG.

  • None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in LNG above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its LNG policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

Bank policy scores on other/conventional oil and gas

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
1000000000
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for other/conventional oil and gas projects.

  • None (0), weak exclusion (1.5), strong exclusion (4)

2) Restriction on financing for companies that expand other/conventional oil and gas. 

  • None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for other/conventional oil and gas.

  • None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in other/conventional oil and gas above a certain threshold.

  • None (0), enhanced due diligence/Equator Principles commitment (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its other/conventional oil and gas policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

Bank policy scores on coal financing

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
1000000000
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 80

See: Banking on Climate Change - policy scores

Explanation

For both coal mining and coal power, 32 possible policy points can be obtained, while for other coal,16 possible policy points can be obtained. So a bank can obtain a total of 80 policy points for its coal policies. Based on this score banks are then classified as laggards (0-20 points), followers (20.5-40 points), front runners (40.5-60 points) or leaders (60.5-80 points).

For more details see this page.

Bank policy scores on coal mining

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
1000000000
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 32

See: Banking on Climate Change - policy scores

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for coal mining projects.

  • None (0), mountaintop removal mining exclusion (0.5), weak exclusion (2), moderate exclusion (4), strong exclusion (6)

2) Restriction on financing for companies that expand coal mining.

  • None (0), weak exclusion (4), strong exclusion (8)

3) The bank’s commitment to phase-out financing for coal mining.

  • None (0), exposure reduction (1.5), financing reduction (3), weak phase-out (4), moderate phase-out (6), strong phase-out (8)

4) The bank’s commitment to exclude companies active in coal mining above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (3), moderate exclusion threshold (5), strong exclusion threshold (8), full exclusion (10)

A bank can obtain a total of 32 policy points for its coal mining policy. Based on this score banks are then classified as laggards (0-8 points), followers (8.5-16 points), front runners (16.5-24 points) or leaders (24.5-32 points).

For more details see this page.

Bank policy scores on coal power

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
1000000000
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 32

See: Banking on Climate Change - policy scores

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for coal power projects.

  • None (0), weak exclusion (2), moderate exclusion (4), strong exclusion (6)

2) Restriction on financing for companies that expand coal power.

  • None (0), weak exclusion (4), strong exclusion (8)

3) The bank’s commitment to phase-out financing for coal power.

  • None (0), proportional reduction (1), exposure reduction (1.5), financing reduction (3), weak phase-out (4), moderate phase-out (6), strong phase-out (8)

4) The bank’s commitment to exclude companies active in coal power above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (3), moderate exclusion threshold (5), strong exclusion threshold (8), full exclusion (10)

A bank can obtain a total of 32 policy points for its coal power policy. Based on this score banks are then classified as laggards (0-8 points), followers (8.5-16 points), front runners (16.5-24 points) or leaders (24.5-32 points).

For more details see this page.

Bank policy scores on coal infrastructure

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
1000000000
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 16

See: Banking on Climate Change - policy scores

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for coal infrastructure projects.

  • None (0), weak exclusion (1), strong exclusion (3)

2) Restriction on financing for companies that expand coal infrastructure.

  • None (0), weak exclusion (2), strong exclusion (4)

3) The bank’s commitment to phase-out financing for coal infrastructure.

  • None (0), exposure reduction (1), weak phase-out (2), strong phase-out (4)

4) The bank’s commitment to exclude companies active in coal infrastructure above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (4), full exclusion (5)

A bank can obtain a total of 16 policy points for its coal infrastructure policy. Based on this score banks are then classified as laggards (0-4 points), followers (4.5-8 points), front runners (8.5-12 points) or leaders (12.5-16 points)

For more details see this page.

Banks and human rights

BankTrack Human Rights Benchmark 2019

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Industrial and Commercial Bank of China (ICBC)
CHN
100
China
Laggard
Follower
Front runner
Leader
Explanation

Industrial and Commercial Bank of China (ICBC)'s human rights policies, processes and reporting were assessed as part of the BankTrack Human Rights Benchmark in November 2019. The bank is assessed as a Laggard, with a total score of 0.5 out of 14.

Policy: 0/3
Due dilligence: 0/5
Reporting: 0.5/3
Remedy: 0/3

For more details see this page.

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| |
Type:
Year:
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2019-03-20 | Nijmegen, the Netherlands | BankTrack, Honor the Earth, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Sierra Club
blog
external news
our news

Banks massively financing fossil fuels unclear about future of ... fossil fuels

Few banks acknowledge relation between fossil fuels and climate breakdown
2018-12-20 | Nijmegen
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

Principles must bring commitments

Banks endorsing draft Principles for Responsible Banking called upon to urgently act on what they sign
2018-11-26 | Paris | BankTrack
blog
external news
our news

Pipeline: Stepping stone for Japanese financiers

2018-10-08 | Daily Monitor
blog
external news
our news

World economy at risk of another financial crash, says IMF

2018-10-03 | Guardian
blog
external news
our news

Report finds major banks ramped up fossil fuel financing to $115 billion in 2017

Despite 2017 being the costliest year on record for weather disasters, new report reveals that banks increased extreme fossil fuel financing last year, led by a more than doubling in lending to tar sands companies and pipelines.
2018-03-28 | Nijmegen, the Netherlands | BankTrack, Honor the Earth, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Sierra Club
blog
external news
our news

Investing in a Green Belt and Road? Assessing the Implementation of China’s Green Credit Guidelines Abroad

The Chinese government has become an unexpected leader in pushing for new green credit policies, but are Chinese banks doing their part to keep the belt and road initiative green?
2017-12-13 | Friends of the Earth US
blog
external news
our news

Chinese banks rule out Carmichael coal mine!

2017-12-05 | Market Forces
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

Banks provide billions for Dirty Diesel traders while failing to act on human rights, says new briefing

- Oil traders Trafigura and Vitol received over $100 billion in loans since 2012
- Of 26 banks contacted, not one has pressured companies over toxic fuel exports to Africa
2017-05-23 | Nijmegen | BankTrack
blog
external news
our news

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
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
blog
external news
our news

Banks not yet living up to UN human rights principles, finds BankTrack

New research finds inadequate reporting on human rights impacts, and failure to establish mechanisms to allow complaints.
2014-12-02 | Geneva | BANKTRACK
blog
external news
our news

'Record year' for bank coal financing as latest UN climate warning looms

2014-10-29 | Nijmegen | BankTrack
blog
external news
our news

Chinese banks ignore pleas of Ecuador mining campaigners

The failure to respond to an NGO letter challenging investment in the Mirador mining project has played to Ecuadorian fears about China's growing clout
2014-05-14 | Beijing | China Dialogue
blog
external news
our news

Australian coal projects could be ineligible to receive Chinese finance

2013-07-24 | Melbourne | Market Forces
blog
external news
our news

Bankrolling Climate Change

NGOs present groundbreaking research on banks’ involvement in coal financing
2011-11-30 | Durban | urgewald, Earthlife, BankTrack and groundWork
blog
external news
our news

China digs in conflict-ridden Burma for oil and gas

2011-09-06 | Bangkok | Finance GreenWatch
blog
external news
our news

Chinese NGOs Rank the Country’s Major Financiers, Launch Sustainability Benchmarking of Chinese Commercials Banks

2011-07-11 | Kunming, China | Green Watershed
blog
external news
our news

ICBC quiet over controversial dam project

2011-06-02 | South China Morning Post
blog
external news
our news

Kenyans to petition Chinese involvement in Ethiopia's Gibe 3 Dam

2011-02-16 | Nairobi
blog
external news
our news

China bank ICBC opens office in Amsterdam

2011-01-21 | China Daily
blog
external news
our news

Chinese loan underwrites Gibe 3 dam destruction

2010-09-17 | Kenya | International Rivers, Friends of Lake Turkana, BankTrack
blog
external news
our news

Gibe 3: African Development Bank and European Investment Bank out. Who's in?

2010-08-27 | Ethiopia | Terri Hathaway, International Rivers
blog
external news
our news

China, South Africa in talks on nuclear power cooperation

2010-08-24 | Beijing | Fox Business
blog
external news
our news

The Gibe 3 dam – a test case for China’s role in Africa

2010-08-09 | San Fransisco | International Rivers
blog
external news
our news

Time to volunteer

2010-08-03 | China Dialogue
blog
external news
our news

Ethiopia dam blot on China's record

Project threatens devastating environmental consequences, global green group says
2010-06-07 | International Rivers
blog
external news
our news

China’s biggest bank to support Africa’s most destructive dam

2010-05-13 | Ethiopia | International Rivers
blog
external news
our news

BankTrack calls upon banks to Close the Gap on investment policies

New report evaluates quality of investment policies of 49 banks; more policies in place, overall quality below what is required
2010-04-27 | Nijmegen, the Netherlands | BankTrack
blog
external news
our news

Chinese NGOs announce the second Green Banking Innovation Award

2009-08-01 | Beijing | Green Watershed, Global Environmental Institute and other Chinese NGOs
blog
external news
our news

民间环保团体评出第二届绿色银行创新奖

2009-08-01 | 中国 北京 | Friends of the Earth US
blog
external news
our news

China adopts sustainable lending laws

Shows potential way forward for global financial regulators
2008-11-20 | US and Netherlands | Friends of the Earth US
blog
external news
our news

中国采纳可持续借贷法规

为全球金融监管者指引潜在前进方向
2008-11-20 | US and Netherlands | Friends of the Earth US
blog
external news
our news

New Financiers and the Environment

New Report Shows Ten Perspectives on How Financial Institutions Can Protect the Environment
2008-05-15 | Berkeley | International Rivers
blog
external news
our news

Chinese banks need to catch up on environmental policies

International banks must take responsibility in advocating for better standards
2007-05-09 | San Fransisco, Utrecht | Friends of the Earth US

Documents

Type:
Year:
ngo documents
2021-01-14 00:00:00

Feasability of coal in the age of renewable energy: Hunutlu thermal power plant case

2021-01-14 00:00:00 | Climate Action Network Europe
our publications
2020-11-18 00:00:00

Crude Risk: Risks to banks and investors from the East African Crude Oil Pipeline

2020-11-18 00:00:00 | BankTrack, AFIEGO, Both ENDS, Inclusive Development International, Just Share
ngo documents
2020-10-28 00:00:00

Who is who in the Chinese lending institutional landscape

2020-10-28 00:00:00 | Urgewald
our publications
2020-10-20 00:00:00

A Call to Action on the Principles for Responsible Banking: End Climate-Destructive Financing Now

Joint civil society statement
2020-10-20 00:00:00 | BankTrack, Rainforest Action Network, and others
annual reports
2020-04-14 00:00:00

Annual Report 2019

2020-04-14 00:00:00 | ICBC
annual reports
2020-03-27 00:00:00

CSR report 2019

2020-03-27 00:00:00 | ICBC
our publications
2020-03-18 00:00:00

Banking on Climate Change - Fossil Fuel Finance Report 2020

2020-03-18 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club
correspondence
2019-12-10 00:00:00

Letter from BankTrack to ICBC on the bank's progress on its fossil fuel finance since COP24

2019-12-10 00:00:00 | BankTrack
our publications
2019-09-22 00:00:00

Civil Society Statement on the new Principles for Responsible Banking

2019-09-22 00:00:00 | BankTrack and others
correspondence
2019-09-10 00:00:00

Letter from ICBC to BankTrack on PRB implementation

2019-09-10 00:00:00 | ICBC
csr policies
2019-05-31 00:00:00

Modern Slavery Statement

2019-05-31 00:00:00 | ICBC
ngo documents
2019-05-21 00:00:00

Fool's Gold

The financial institutions bankrolling Europe’s most coal-dependent utilities
2019-05-21 00:00:00 | Europe Beyond Coal
annual reports
2019-04-16 00:00:00

Annual report 2018

2019-04-16 00:00:00 | Industrial and Commercial Bank of China
annual reports
2019-04-11 00:00:00

CSR report 2018

2019-04-11 00:00:00 | ICBC
ngo documents
2018-12-10 00:00:00

Bank Policy Matrix

2018-12-10 00:00:00 | Forests & Finance Coalition
correspondence
2018-10-16 00:00:00

Letter from BankTrack and 120 organisations to ICBC on Demands FBNT campaign

2018-10-16 00:00:00 | BankTrack and 120 organisations
annual reports
2018-03-31 00:00:00

CSR Report 2017

2018-03-31 00:00:00 | ICBC
annual reports
2018-03-31 00:00:00

Annual Report 2017

2018-03-31 00:00:00 | ICBC
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
2017-06-13 00:00:00

Japanese and Malaysian banks and investors continue to pump billions of dollars into forest-risk companies, without adequate environmental and social safeguards

2017-06-13 00:00:00 | RAN, TuK Indonesia & Profundo
annual reports
2017-03-31 00:00:00

CSR report 2016

2017-03-31 00:00:00 | ICBC
annual reports
2017-03-31 00:00:00

Annual report 2016

2017-03-31 00:00:00 | ICBC
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
correspondence
2016-11-30 00:00:00

Letter from 500 organisations to ICBC on financing DAPL

2016-11-30 00:00:00 | 500 organisations
our publications
2016-09-01 00:00:00

Green Paper, Red lines

Chinese version
2016-09-01 00:00:00 | BankTrack
annual reports
2016-07-06 00:00:00

Annual Report 2015

2016-07-06 00:00:00 | ICBC
annual reports
2016-07-06 00:00:00

Corporate Social Responsibility Report 2015

2016-07-06 00:00:00 | ICBC
our publications
2016-06-30 00:00:00

Banking with Principles? Second Edition June 2016

Benchmarking Banks against the UN Guiding Principles on Business and Human Rights
2016-06-30 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
2015-05-04 00:00:00

The end of coal?

2015 Coal Finance Report Card
2015-05-04 00:00:00 | BankTrack, Rainforest Action Network and Sierra Club
annual reports
2015-04-30 00:00:00

Annual Report 2014

2015-04-30 00:00:00 | ICBC
annual reports
2015-03-26 00:00:00

Corporate Social Responsibility Report 2014

2015-03-26 00:00:00 | ICBC
correspondence
2014-12-10 00:00:00

Letter from EPN to Banks investing in April on APRIL

2014-12-10 00:00:00 | EPN
our publications
2014-12-02 00:00:00

Banking with Principles?

Benchmarking Banks against the UN Guiding Principles on Business and Human Rights
2014-12-02 00:00:00 | BankTrack
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
our publications
2014-10-29 00:00:00

Banking on Coal 2014

2014-10-29 00:00:00 | BankTrack
annual reports
2014-01-01 00:00:00

Annual Report 2013

2014-01-01 00:00:00
annual reports
2014-01-01 00:00:00

CSR Report 2013

2014-01-01 00:00:00
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
correspondence
2012-11-06 00:00:00

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

2012-11-06 00:00:00 | BankTrack et al.
our publications
2012-04-18 00:00:00

Environmental Report on Chinese Banks (2011)

-Chinese version-
2012-04-18 00:00:00 | Green Watershed
our publications
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
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
ngo documents
2011-07-06 00:00:00

Environmental Record of Chinese Banks 2010

2011-07-06 00:00:00 | Green Watershed
ngo documents
2011-06-24 00:00:00

China Sustainable Finance Newsletter #12 -English-

2011-06-24 00:00:00 | Friends of the Earth US
ngo documents
2011-04-12 00:00:00

中 国银行业环境记录2010

2011-04-12 00:00:00 | 于晓刚,绿色流城
ngo documents
2011-03-08 00:00:00

China Sustainable Finance Newsletter #11 -English-

2011-03-08 00:00:00 | Friends of the Earth US
ngo documents
2010-11-29 00:00:00

China Sustainable Finance Newsletter #10 -English-

2010-11-29 00:00:00 | Friends of the Earth US
ngo documents
2010-09-01 00:00:00

China Sustainable Finance newsletter #9 -English-

2010-09-01 00:00:00 | Friends of the Earth US
other documents
2010-07-26 00:00:00

Credit where its due (2)

2010-07-26 00:00:00 | Adina Matisoff, Foe US
other documents
2010-07-26 00:00:00

Credit where its due (1)

2010-07-26 00:00:00 | Friends of the Earth US
ngo documents
2010-04-29 00:00:00

Chinese Banks Report -Chinese-

2010-04-29 00:00:00 | Green Watershed
our publications
2010-04-27 00:00:00

Close the Gap

Benchmarking investment policies of international banks
2010-04-27 00:00:00 | BankTrack
other documents
2010-03-26 00:00:00

中资银行:谁比谁更绿 民间报告首度披露14 家中资上市银行绿色信贷现状

2010-03-26 00:00:00 | Southern weekend
ngo documents
2010-03-24 00:00:00

Chinese Banking Industry Environmental Record (NGO analysis) - Executive Summary

2010-03-24 00:00:00 | Green Watershed
ngo documents
2009-11-17 00:00:00

China Sustainable Finance Newsletter #6

2009-11-17 00:00:00 | Friends of the Earth US
our publications
2009-08-17 00:00:00

China Sustainable Finance Newsletter #5 -English-

2009-08-17 00:00:00 | Friends of the Earth US
ngo documents
2009-05-15 00:00:00

China Sustainable Finance Newsletter #4 -English-

2009-05-15 00:00:00 | Friends of the Earth US
ngo documents
2009-03-25 00:00:00

Green Investment III

2009-03-25 00:00:00 | Greenpeace China
ngo documents
2009-03-12 00:00:00

China Sustainable Finance Newsletter #3 -English-

2009-03-12 00:00:00 | Friends of the Earth US
ngo documents
2008-11-20 00:00:00

The Green Evolution: Environmental Policies and Practice in the Chinese Banking Sector

2008-11-20 00:00:00 | Friends of the Earth-US
ngo documents
2008-11-20 00:00:00

中国采纳可持续借贷法规, 为全球金融监管者指引潜在前进方向

2008-11-20 00:00:00 | Friends of the Earth-US
ngo documents
2008-11-20 00:00:00

绿色变革: 中国银行业的环境政策与实践

2008-11-20 00:00:00 | Friends of the Earth-US
ngo documents
2008-05-14 00:00:00

新的供资方与环境 - New Financiers and the Environment

2008-05-14 00:00:00 | International Rivers
ngo documents
2008-05-14 00:00:00

New Financiers and the Environment

2008-05-14 00:00:00 | International Rivers
our publications
2007-05-09 00:00:00

Time to go Green; environmental responsibility in the Chinese banking sector

2007-05-09 00:00:00 | FoE US, BankTrack
our publications
2007-05-07 00:00:00

Time to Go Green (Chinese)

2007-05-07 00:00:00 | FoE US, BankTrack

Links

EPN assessment of policies against 14 minimum criteria - ICBC

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.

https://environmentalpaper.org/industrial-and-commercial-bank-of-china-icbc/

Petition urging Total to cancel EACOP

https://secure.avaaz.org/campaign/en/stop_the_total_disaster_loc/

Policies

Voluntary initiatives

Industrial and Commercial Bank of China (ICBC) has committed itself to the following voluntary standards:
  • Carbon Disclosure Project
  • Global Reporting Initiative
  • ISO 26000
  • Principles for Responsible Banking (PRB)
  • Task Force on Climate-related Financial Disclosures
  • United Nations Global Compact

Investment policies

ICBC does not have publicly available investment policies. The bank's webpage on corporate social responsibility only lists the bank's annual csr reports. The bank declared its csr policy improvements as listed below:

2017 In IBCB's 2017 annual report it stated that "the Bank comprehensively carried out green credit from the aspects of credit policy, management process, business innovation and its own performance. It released the revised industrial (green) credit policy annually." Although this policy is not publicly available.

2016 The bank states in its 2016 CSR report that they strongly advocated the concept of green finance, guided quantitative research of environmental risks, and helped to make green finance a core subject for B20. They devoted themselves to “innovation, coordination, green, opening up and sharing”.

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.

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.

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.

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.

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.

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”.

2008 Three-year strategic goal of increasing green credit through developing green credit concepts, frameworks, and implementation steps.

Year:
csr policies
2019-05-31 00:00:00

Modern Slavery Statement

2019-05-31 00:00:00 | ICBC

Good moves

Year:

2020

Industrial and Commercial Bank of China withdraws financing from the Lamu Coal Plant

Save Lamu has learned that the Industrial and Commercial Bank of China (ICBC) has decided not to finance the Lamu coal plant due to cited environmental and social risks with the project. Save Lamu has previously submitted various petitions and complaints to ICBC citing extensive environmental destruction and social risks…
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