Created before Nov 2016
Last update: 2020-03-05 11:59:11
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KBC was established in 1998 from a merger between two Belgian banks, the Kredietbank and CERA Bank, and the Belgian insurance company ABB. KBC is an integrated bank-insurance group, catering mainly to retail customers, small and medium-sized enterprises and private banking clients. It operates in its home markets of Belgium and Central and Eastern Europe, where it specialises in retail bank-insurance and asset management activities, as well as in the provision of services to businesses. The group is also active in a selection of other countries in Europe in private banking and services to businesses.
Johan Thijs |
|Annual report||Annual report 2019|
listed on Euronext Brussels
KBC's shareholder structure can be accessed here.
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Banks, climate and energy
Bank policy scores on tar sands
Total: 3.5 points out of 20
1.5 points for a weak exclusion of tar sands projects: KBC prohibits financing for tar sands exploration and development projects, but not infrastructure.
2 points for a weak exclusion threshold for tar sands companies: KBC prohibits financing for "stand-alone specialist companies that are solely active in the development and extraction of oil and gas fields," which includes some tar sands companies.
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).
Every two weeks a bank, insurer or lender announces new coal restrictions
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Fossil fuel protest by Greenpeace
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BNP Paribas, Deutsche Bank and ING invest €1.34 billion in coal
While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning
BankTrack to Equator Principles banks; ‘get the Outside Job done’
Nam Theun 2 inauguration hides real costs of controversial Equator Principles project
Bankruptcy threatens banks operating in Belgium
BankTrack calls upon banks to Close the Gap on investment policies
Laos’ Nam Theun 2 dam operation illegal
Equator Principles: Action, not words needed
Civil society groups call for bold steps forward with Equator Principles
"Sustainable Finance" undermines food security of Lao communities
Må tvangsflytte 4000 urfolk
BNP Paribas: very high risk of harmful investments
Banks shun harmful investments
Sixty-eight banks fuelling cluster munition producers with billions of dollars
European banks withdraw from Belene nuclear power project
No party time for Burmese democrats
Belgian campaign puts banks under pressure to stop investing in Burma
Letter from BankTrack to KBC on the bank's progress on its fossil fuel finance since COP24
Beleggers op hete kolen: Een kritische doorlichting van de klimaatfondsen op de Belgische markt (in Dutch)
Voluntary initiativesKBC has committed itself to the following voluntary standards:
- Belgian SDG Charter for International Cooperation and Development
- Carbon Disclosure Project
- Equator Principles
- Global Reporting Initiative
- ISO 14001
- Principles for Responsible Banking (PRB)
- Principles for Responsible Investment (PRI)
- Task Force on Climate-related Financial Disclosures
- UN Guiding Principles on Business and Human Rights
- UNEP Finance Initiative
- United Nations Global Compact
KBC's web page on corporate social responsibility can be accessed here.
Implementation and reporting
KBC is reporting on the implementation here.