ICBC
Industrial and Commercial Bank of China is not only the leading provider of green loans in China, but also the top issuer among Chinese banks of green bonds in the international markets, and the most active of the Chinese banks in collaborating with domestic and international agencies to advance the development of green finance, both at home and abroad.
Thanks to its systematic approach to improving the process of generating loans and encouraging product innovation, ICBC continues to beat domestic rivals in offering green loans for projects across the country.
By the end of 2018, its total outstanding green loans exceeded Rmb1.2 trillion ($174 billion), putting it ahead of every other domestic bank. That marked an increase of 12.6% from a year earlier – and 6.6 percentage points above the growth in ICBC’s total outstanding loans to corporate clients.
Among China’s domestic banks, ICBC is the largest issuer of green bonds in overseas markets, selling a total of $2.33 billion of such debt in London and Hong Kong last year to fund projects in China’s Belt and Road Initiative.
ICBC is in a strong position to advance the green finance agenda. Last year, management issued guidelines on seizing opportunities where green finance can be used to support strategic government initiatives such as BRI, regional economic development in the north China region, covering Beijing, Tianjin and Hebei, as well as economic integration in regions along the Yangtze River.
At home ICBC has been active, working with domestic government agencies and institutions to ensure the growth of the domestic green finance sector. In December 2018, it joined China Securities Index Co, a financial data provider affiliated with the stock exchanges of Shanghai and Shenzhen, to launch an environmental, social and governance index for socially conscious investors to screen listed companies. It has also worked with several international organizations to promote social responsibility in the global banking sector and sustainable investments for China’s BRI.