UNEP Statement on Energy Efficiency The China Development Bank (CDB) and the Industrial and Commercial Bank of China (ICBC) are signatories of the Investment Initiative of the UNEP Finance Initiative. This initiative encourages its members to commit to sustainable development, the improvement of social and environmental practices, and to promote open communication between all sectors. The CDB has representatives in various Latin American countries such as Venezuela, Brazil, Ecuador, Colombia, and Argentina. The ICBC has branch offices in Mexico, Brazil, Peru, and Argentina.
The Equator Principles. Until now, only the ICBC has adopted the Equator Principles, but the Chinese Banks’ Association highlights their relevance for the development and expansion of investments, signaling that Chinese financial institutions should take advantage of the Equator Principles to support their economic and financial development.
The UN Global Compact. In 2007 the China Banking Regulatory Commission enacted the official direction “Opinion on the strengthening of social responsibility in financial institutions” which requires that large banks, such as the China Development Bank and China Import-Export Bank adhere to the 10 principles of the UN Global Compact. Likewise, the Global Reporting Initiative(related to the Global Compact) is being adopted by various Chinese estate firms.
Sustainable Banking Network. In 2012 a network of regulatory agencies was formed for the banking sector in emerging economies and committed to advancing sustainable finance aligned with international best practice. The Chinese Banks’ Association, the China Banking Regulatory Commission, and the Chinese Ministry of Environmental Protection.
