In recent years, ICBC has been committed to promoting green development by adjusting towards a green credit structure. As at the end of last December, ICBC had a loan balance of around RMB 980 billion in green economy, providing financing support many quality enterprises and key projects in green transport, renewable energy and clean energy, natural protection, and ecological restoration.

According to an official with ICBC, the Bank took the lead among the Chinese banking sector in developing and enforcing green credit policy in 2007. On the one hand, the Bank has continued to provide strong support for green economy and improve the policy system and financial products for key sectors. The loans granted to the green economy sectors has been significantly above the Bank’s average loan growth rate, driving the green development of economy. On the other hand, the Bank has strictly implemented the “one vote veto” mechanism for green credit, incorporated green credit management requirements into the whole process of credit business, and enlisted environmental and social risks as an important part of customer and project risk assessment, ensuring compliance, integrity and legitimacy in terms of energy saving and environmental protection. In addition, ICBC has been promoting the green finance concept by exploring the environmental risk quantification and communication mechanisms, making green finance a core theme of the B20 summit.

Apart from traditional credit business services, ICBC has also supported green projects such as energy conservation and environmental protection, pollution prevention and control, resource saving and reuse through direct financing including bond underwriting. Statistics show that ICBC has underwritten green bonds worth RMB 110.3 billion since last year, leading among the Chinese financial institutions. The bonds include China’s first green financial bond, first green corporate bond , first  green non-financial corporate bond in inter-bank market, and first biomass generation green bond, which contributed to green economic development and ecological protection.