{"id":4802,"date":"2023-02-04T05:39:34","date_gmt":"2023-02-03T21:39:34","guid":{"rendered":"http:\/\/world.350.org\/philippines\/?p=4802"},"modified":"2023-02-04T05:42:48","modified_gmt":"2023-02-03T21:42:48","slug":"two-faced-icbc-%f0%9f%8e%ad","status":"publish","type":"post","link":"https:\/\/world.350.org\/philippines\/two-faced-icbc-%f0%9f%8e%ad\/","title":{"rendered":"Two-faced ICBC \ud83c\udfad"},"content":{"rendered":"<p><strong>Jenny Tuazon<\/strong><\/p>\n<p>The Go Clean ICBC coalition just released <a href=\"https:\/\/gocleanicbc.org\/investments-report\/\">a report evaluating the Industrial and Commercial Bank of China&#8217;s (ICBC) renewable energy financing<\/a>.<\/p>\n<a href=\"https:\/\/gocleanicbc.org\/investments-report\/\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-188552\" src=\"https:\/\/350.org\/wp-content\/uploads\/2023\/02\/Screenshot-2023-01-24-at-4.56.28-PM-700x492.png\" alt=\"\" width=\"454\" height=\"319\" \/><\/a>\n<p>At first glance, we thought we already had something to celebrate seeing that ICBC, compared with other multinational banks, provides the highest funding to renewables. But, lo and behold, <strong>this new report also finds that its fossil fuel financing has massively increased in the last four years<\/strong>. ICBC\u2019s double-dealing cannot continue since we\u2019re <a href=\"https:\/\/www.newscientist.com\/article\/2354824-the-first-breach-of-1-5c-will-be-a-temporary-but-devastating-failure\/\">on the brink of breaching the globally agreed warming limit of 1.5\u00baC<\/a>.<\/p>\n<p>Now, we\u2019re taking action to the next level targeting ICBC\u2019s commercial shareholders by writing them a letter, and\u00a0<strong>we need your help to make things happen.<\/strong><\/p>\n<p class=\"button\" style=\"text-align: center;\"><a href=\"https:\/\/gocleanicbc.org\/take-action-send-a-letter-to-icbc-shareholders\/\">Take action<\/a><\/p>\n<p>ICBC is a major player in the global arena of energy financing, and prides itself on being China\u2019s leader in \u2018green finance\u2019 and corporate sustainability.\u00a0<strong>But, in contrast to its domestic and international commitments, ICBC is still the world\u2019s largest financier of coal.<\/strong>\u00a0The Gwadar coal project in Pakistan is just one of the dirty energy projects ICBC is to finance overseas, <a href=\"https:\/\/www.brecorder.com\/news\/40221115\/gwadar-plants-on-thar-coal-two-chinese-loans-to-be-confirmed-soon\">according to recent news<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The Industrial and Commercial Bank of China &#8211; the world&#8217;s largest bank \u2013 claims to be a &#8216;green&#8217; leader in global energy finance, yet continues to finance dirty energy projects \ud83e\udd21<a href=\"https:\/\/twitter.com\/hashtag\/GoCleanICBC?src=hash&amp;ref_src=twsrc%5Etfw\">#GoCleanICBC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/EndFossilFinance?src=hash&amp;ref_src=twsrc%5Etfw\">#EndFossilFinance<\/a> <a href=\"https:\/\/t.co\/j3WOrTBJwe\">https:\/\/t.co\/j3WOrTBJwe<\/a><\/p>\n<p>\u2014 Go Clean ICBC (@GoCleanICBC) <a href=\"https:\/\/twitter.com\/GoCleanICBC\/status\/1618938735466536961?ref_src=twsrc%5Etfw\">January 27, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Our coalition has never stopped working to push ICBC towards its stated claim of being a climate leader, but\u00a0<strong>it will take effort from all sides to make ICBC do the right thing<\/strong>. That\u2019s why we\u2019re turning our attention to their commercial shareholders.<\/p>\n<p><strong>Will you please send these shareholders a letter telling them to push ICBC to become a real climate leader?<\/strong>\u00a0We\u2019ve set up a platform with a draft letter that you can use and tweak, including the list of the shareholders.<\/p>\n<p class=\"button\" style=\"text-align: center;\"><a href=\"https:\/\/gocleanicbc.org\/take-action-send-a-letter-to-icbc-shareholders\/\">Take action<\/a><\/p>\n<p>This is the first time we\u2019re writing to their commercial shareholders, so it\u2019s crucial that we show our strength in numbers \u2013 the more people sending them letters, the heavier the pressure they\u2019ll feel.<\/p>\n<p>I believe our incredible, powerful, and diverse movement will make things happen for a safer and sustainable future that leaves no one behind.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new report finds ICBC \u2013 the world\u2019s biggest bank \u2013 is double-dealing on global energy finance, massively increasing its financing to dirty energy instead of renewables in the last 4 years.<\/p>\n","protected":false},"author":293,"featured_media":4371,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[43],"tags":[211,218],"class_list":["post-4802","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coal","tag-china","tag-icbc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Two-faced ICBC \ud83c\udfad | 350 Pilipinas<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/world.350.org\/philippines\/two-faced-icbc-\ud83c\udfad\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Two-faced ICBC \ud83c\udfad | 350 Pilipinas\" \/>\n<meta property=\"og:description\" content=\"A new report finds ICBC \u2013 the world\u2019s biggest bank \u2013 is double-dealing on global energy finance, massively increasing its financing to dirty energy instead of renewables in the last 4 years.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/world.350.org\/philippines\/two-faced-icbc-\ud83c\udfad\/\" \/>\n<meta property=\"og:site_name\" content=\"350 Pilipinas\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/350pilipinas\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-03T21:39:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-03T21:42:48+00:00\" \/>\n<meta property=\"og:image\" 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