As the largest bank in the world, ICBC has a great potential to become the world’s best bank by stopping all its financing to fossil fuel projects.
Industrial and Commercial Bank of China (ICBC) is the world’s biggest bank financing massive fossil fuel projects and corporations in Africa, Europe, and Asia.
From October 2018 to October 2020, ICBC channeled $40 billion to the coal industry. If this doesn’t stop, these projects will continuously destroy fragile ecosystems and fresh waterways, cause societal harm to communities, and contribute to millions of premature deaths caused by air pollution.
ICBC’s global influence means that they can become the world’s climate leader in sustainable finance — and lead a just recovery from dirty energy to renewable energy sources for all.
ICBC could be a real catalyst for global energy transition if it shored up its considerable resources behind a push for:
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Check out the latest stories:Here are some powerful stories from the communities in countries directly affected by ICBC's fossil fuel financing Read