"Going Out, But Going Green? Assessing the Implementation of China's Green Credit Guidelines overseas"

Friends of the Earth and BankTrack's report "Going Out, But Going Green" features seven case studies of Chinese bank financing for overseas investments, in countries ranging from Bosnia and Herzegovina, to Ecuador, to Liberia.

The report "analyzes these transactions to determine the extent to which banks have implemented Article 21 of the Green Credit Guidelines, China’s innovative sustainable finance policy. When lending overseas, Chinese banks are expected to ensure that borrowers comply with relevant environmental and social regulations and uphold good international practices."

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Author: 創綠中心

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Author: 创绿中心

《绿色信贷指引》...于2012年由中国银监会正式发布,至今已走过第三个年头。《指引》旨在推动银行业金融机构以绿色信贷为抓手,积极调整信贷结构,有效防范环境与社会风险,更好地服务实体经济,促进经济发展方式转变和经济结构调整...《指引》在第二十一条中,特别针对中资银行参与海外项目授信提出了要求:“银行业金融机构应当加强对拟授信的境外项目的环境和社会风险管理,确保项目发起人遵守项目所在国家或地区有关环保、土地、健康、安全等相关法律法规。对拟授信的境外项目公开承诺采用相关国际惯例或国际准则,确保对拟授信项目的操作与国际良好做法在实质上保持一致”...

...创绿中心与国际组织地球之友合作,通过调研与访谈,对涉及中资银行参与的六个有争议的海外项目进行了解,并依据个案分析了绿色信贷实践中存在的问题。报告考察的六个项目分布在东欧、南美、澳大利亚、东南亚、西非等地区,涵盖煤炭、矿业、交通设施建设、林业、水坝等行业,涉及包括国家开发银行、中国进出口银行、中国工商银行、中国建设银行、中国银行、招商银行在内的中资银行机构...

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Author: 創綠中心

《綠色信貸指引》...於2012年由中國銀監會正式發布,至今已走過第三個年頭。 《指引》旨在推動銀行業金融機構以綠色信貸為抓手,積極調整信貸結構,有效防範環境與社會風險,更好地服務實體經濟,促進經濟發展方式轉變和經濟結構調整... 《指引》在第二十一條中,特別針對中資銀行參與海外項目授信提出了要求:“銀行業金融機構應當加強對擬授信的境外項目的環境和社會風險管理,確保項目發起人遵守項目所在國家或地區有關環保、土地、健康、安全等相關法律法規。對擬授信的境外項目公開承諾採用相關國際慣例或國際準則,確保對擬授信項目的操作與國際良好做法在實質上保持一致”.. .

... 創綠中心與國際組織地球之友合作,通過調研與訪談,對涉及中資銀行參與的六個有爭議的海外項目進行了解,並依據個案分析了綠色信貸實踐中存在的問題。報告考察的六個項目分佈在東歐、南美、澳大利亞、東南亞、西非等地區,涵蓋煤炭、礦業、交通設施建設、林業、水壩等行業,涉及包括國家開發銀行、中國進出口銀行、中國工商銀行、中國建設銀行、中國銀行、招商銀行在內的中資銀行機構...

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4 March 2015

Chinese banks must ensure companies investing abroad make good on promise of sustainability

Author: Michelle Chan, director, economic policy programme at Friends of the Earth - US, in South China Morning Post

Since the launch of China's "going out" policy some 15 years ago, Chinese outbound investment has increased over 30-fold, to almost US$103 billion in 2014. As China's overseas footprint has grown, so have the environmental and social controversies linked to Chinese-backed projects. In the past few years alone, Chinese companies and banks have come under fire for a range of deals, such as copper mines in Ecuador that have fuelled social conflict.

But unlike US or European governments, which have largely let their multinational corporations roam the globe with little environmental oversight, China has issued government policies aimed at promoting stronger environmental stewardship for Chinese investments overseas.

One of these policies is the Green Credit Guidelines, issued by China's banking regulators three years ago this month. The guidelines not only instruct banks to link lending decisions to clients' environmental performance, but also require banks to ensure that borrowers abide by international best practices abroad.

The international aspect of the guidelines is visionary both in terms of promoting sustainable finance and global corporate responsibility. But the proof of the pudding is in its eating, and implementation of the guidelines, as we describe in our recent report, "Going Out, But Going Green?", is falling short. In six of the seven overseas case studies we examined, we found compliance failures...

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25 November 2014

Report: "Going out, but going green?" Assessing the Implementation of China's Green Credit Guidelines overseas

Author: Friends of Earth & BankTrack

This study presents seven case studies of Chinese bank financing for overseas investments: China Development Bank’s financing of the Stanari coal project in Bosnia and Herzegovina, the Golden Veroleum palm oil plantation in Liberia and APP in Indonesia, and Industrial and Commercial Bank of China Ltd.’s involvement in the Pacific Refinery in Ecuador and the Lower Sesan 2 dam in Cambodia...When lending overseas, Chinese banks are expected to ensure that borrowers comply with relevant environmental and social regulations and uphold good international practices...The case studies indicate that Chinese banks lack transparency..., practices which reduce their access to beneficial information and input that could improve their GCG compliance...A key recommendation for Chinese banks is to establish departments or units responsible for engaging with civil society on GCG implementation...

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