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Report: "Going out, but going green?" Assessing the Implementation of China's Green Credit Guidelines overseas
Author: Friends of Earth & BankTrack, Published on: 25 November 2014
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...
Related companies: Asia Pulp & Paper (part of Sinar Mas) Bank of China China Construction Bank China Development Bank China Merchants Bank China National Petroleum Corporation (CNPC) China Railway Construction Dongfang Electric Petroecuador Sinar Mas Group Sinohydro Sinopec Tongling Nonferrous Metals