Chinese banks need to catch up on environmental policies
A new report...by BankTrack...and Friends of the Earth US...finds that only two of China’s ten most important banks -- China Development Bank (CDB) and the Export-Import Bank of China (Chexim) -- have publicly-disclosed environmental policies. Both banks’ policies fall short of international best practice, while the rest of the banks surveyed had no publicly-available environmental financing standards. [Banks covered in the report: Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, China Development Bank, China Export-Import Bank, China Export & Credit Insurance Corporation (Sinosure), Agricultural Development Bank of China, Bank of Communications, and China CITIC Group (China CITIC Bank). Also refers to: China National Machinery Equipment Import-Export Corp, HSBC, Royal Bank of Scotland, Citigroup, Goldman Sachs, Bank of America]