Keeping an eye on China’s bankers

14 May 2012 – China Dialogue, Wang Haotong

The financial industry remains secretive about the loans it makes, but tireless campaigning by green groups offers hope for change. Wang Haotong reports on the latest civil-society assessment of Chinese banks. ... Whether or not banks subscribe to international environmental norms is an important marker of their performance in this area. But the number of Chinese financial institutions adopting global green-lending standards has stayed stubbornly low. Industrial Bank has outstripped its peers here, having signed up to the Equator Principles – a voluntary set of standards for assessing social and environmental risk in project financing – as well as the United Nations Environment Programme’s Finance Initiative (UNEP FI) and the Carbon Disclosure Project, a scheme that tracks the carbon emissions and climate actions of the world’s biggest firms. Read More.