ICBC was honored "The New Low Carbon Bank in China" in the recent "2010 China Low Carbon Economy Forum" for the excellence in promoting low carbon, innovation in low carbon financial services.
Over the past few years, ICBC moves forward by embracing energy-saving, eco-friendly "Green Banking". Electronic Banking, paperless office and "Green Lighting" are measures under "Green Credit" policy. ICBC reduces its businesses carbon emission while lowering its operation cost at the same time. ICBC as a large commercial bank carries out its social responsibility to support and care for the environment.
ICBC is also the first commercial bank in the country to adopt "Green Credit" policy. Decisions to release loans are based on the borrowers' compliance in State's environmental management, pollution treatment standard and ecological protection. Eco-industry, energy-saving and emission reduction projects are given the top priority.
ICBC supports low carbon economy through financial leverage. ICBC makes important contribution on environmental protection and sustainable development by restricting loans to companies of high energy consumption and high pollution. At present, 98% of the enterprises receiving ICBC loans are eco-friendly or eco-certified by the environmental protection department, involving more than 99% of the loans.
The remaining less than 2% of the enterprises receiving loans are in the process of getting eco-certification. By the end of 2009, ICBC loan balance to key environmental protection projects reached RMB 114.929 billion, RMB 102.925 billion to new energy development and utilization projects. ICBC also gives top priority to key projects in energy-saving engineering, clean development mechanism, promotion of advanced eco-technology and resource utilization.
