The Industrial and Commercial Bank of China has been enhancing its support for environmental protection and innovations on energy saving and emission reduction technology and by the end of June 2009 it had granted up to CNY400 billion in loans for green programs.
Of the total amount it loaned, ICBC gave more than CNY50 billion to environment protection, energy saving, new energy development and utilization, and the promotion of other energy saving technology.
According to a representative of ICBC, of over 60,000 corporate clients, 99% are environmentally-friendly companies or environmentally qualified companies certified by the Ministry of Environmental Protection. Based on this number, ICBC has set up standards for different kinds of green credit loans and launched a green credit program logo inside the bank's internal network. The person said that ICBC would not offer loans to companies that do not meet its environment conditions.
As the next step ICBC will keep track of the relevant progress of energy saving and emission control programs and improve the standards for various green credit programs. In addition, it would enhance research efforts on the environment, energy conservation, and emission controls as well as new energy and new material production industries to effectively prevent risks in granting loans.
