Make a clean break from coal

ICBC has already increased its support to renewable energy sources. 
But they still need to make a clean break from coal. 

If ICBC wants to be recognized as an international true leader on sustainability, the bank must stop direct and indirect financing for thermal coal projects immediately. ICBC must follow the lead of the Chinese government and increase its climate ambitions, zeroing emissions from its operations and finances.
Zero means no new coal power plants, anywhere.

Industrial Commercial Bank of China (ICBC) is the

world’s biggest bank,

currently funding huge coal projects in Africa, Europe, and Asia.

From October 2018 to October 2020, ICBC channeled $40 billion to the coal industry.

Coal projects
Destroy fragile ecosystems
Harm social harmony in local communities
Contribute to millions of deaths by polluting the air

ICBC has shown their commitment to the environment in a number of ways, but to set an example, they must commit to a clean future without coal.

Go Clean ICBC is a global network of organizations opposed to ICBC’s coal finance. Our message is gaining momentum, with strong resistance to ICBC’s coal funding in recipient countries like Turkey, Zimbabwe, Indonesia and Pakistan.

As the world’s biggest bank, ICBC has an opportunity to be the world’s climate leader in green finance and sustainability — leading the global transition from coal into renewable energy sources like wind and solar.

ICBC should follow the lead of the Chinese government and commit to emissions reduction across its portfolio and operations, helping lead China to net zero by 2060. In doing so, ICBC can strengthen its position in the energy transition and guide peers in the right direction.

Latest news

The future of coal plants in Pakistan

What if ICBC and other Chinese banks consider walking away from Pakistan’s coal plants?

The legal battle of Sepang Bay residents against coal-fired power plant

No one is immune to losing faith, especially when you know you are on the right side of the law and you’re up against one of the world’s biggest fossil-fuel financiers. 

Ordinary citizens pay hefty price for unsustainable investments

For a visitor, it can be difficult to ignore an unsettling smell that emanates from the fumes produced by coal power stations, built into the heart of Hwange, a town in Zimbabwe’s Matebeleland North province.

Lamu residents worry about their health, as the fate of the ICBC-backed coal plant remains uncertain

The collapse of the coal plant in Lamu last year led to a major sigh of relief for the thousands of locals who had put up a spirited fight over the last four years to stop the ICBC-backed coal plant. 

Cambodia’s shift to coal is harming the country and pushing away foreign investors

Up until 2018, Cambodia had been generating most of its electricity from hydroelectric dams. However, the fast-tracked approval of two new coal power plants last year signals a dramatic shift in its energy policy. A wave of investments from international investors, including the Industrial and Commercial Bank of China (ICBC), has made this possible.

Heavy Metals and Heat

How a coal plant almost killed a fishing industry in Kenya

‘They didn’t tell me before’: Residents left with little after being evicted to make way for ICBC’s Bengkulu coal power plant in Indonesia

Fifty-seven-year-old Nurjannah has been living and working on a plot of land in Teluk Sepang village, Bengkulu, for decades. She started her small-scale farm in the early 2000s and expanded it in 2013 into a small palm oil plantation.

Pollution from coal power plants feared causing the rise in cancer cases in Turkey

Over the past several years, the construction and operation of coal-fired power plants across Turkey are believed to have caused a rapid increase in cancer cases in the country, residents and studies have revealed.

Zimbabwe must leave fossil fuels behind

It’s time for Zimbabwe to leapfrog to renewables, or else be left with stranded coal assets it may never be able to repay

Alternatives for coal energy in Kenya after the collapse of Lamu Coal Plant

Since residents of the Kenyan coastal town of Lamu won their fight against a new coal plant, the government seems to be making small steps towards a more efficient and sustainable energy future.