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.
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.
Asian Peoples Movement on Debt and Development (APMDD) and Asian Energy Network’s Open Letter to ICBC
On June 23rd, grassroots groups and civil society organisations from around the world came together to ask the Industrial and Commercial Bank of China (ICBC) to show real climate leadership by stopping the financing of fossil fuel projects and funding renewable energy instead. We are sharing Asian People’s Movement on Debt and Development’s open letter to ICBC
As the Industrial and Commercial Bank of China holds its Annual General Meeting, civic groups call for the bank to stop funding fossil fuels
Today the Industrial and Commercial Bank of China (ICBC), one of the three financial advisors of the East African Crude Oil Pipeline (EACOP), among other fossil fuel projects, is holding its Annual General Meeting (AGM), where shareholders will be making important decisions regarding the institution’s policies and investment plans.
Time for action
On 23 June 2022, ICBC's annual general meeting will take place. We need to keep the pressure up to ensure ICBC makes the rapid switch from fossil fuels to renewables.
Sea Turtle joins the Orange Blossom Festival in Adana, Turkey
In the week of 23 March 2022, a whopping 1.5 million people gathered at the famous Orange Blossom Festival in Adana, Turkey. The most attractive guest at the gathering was a sea turtle. What does it have to do with ICBC? Read the full story below to learn more.
The Industrial and Commercial Bank of China should finance a green and low-carbon future, not the East African Crude Oil Pipeline
Members of the #StopEACOP campaign represented by 61 civil society organisations (CSOs) from Uganda, Tanzania, DR Congo and Kenya, wrote to the Industrial and Commercial Bank of China (ICBC) expressing their concerns about its role as a financial advisor and its potential participation in a $2.5 billion project finance loan for the development of the East African Crude Oil Pipeline (EACOP) project.
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.
Pakistan’s Thar coal project and its community’s disempowerment
In the last 12 months, the world of coal financing has shifted dramatically. Even ICBC themselves have indicated that they are moving away from the high-emissions fuel. However, for the residents of Thar, vague hopeful statements of the future will not change the real, tangible heartbreak they are going through at the moment.
“It’s not that we don’t want development. We do. But what we want is sustainable development."
Loss of cultural heritage feared in the aftermath of halted coal plant construction
Even after the Lamu coal power plant has been abandoned, residents fear that cultural damage might already have been done