Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

ICBC’s Basic Rules for Corporate Social Responsibility (ESG and Sustainable Finance) define social responsibility as the Group’s commitment to promoting high-quality development. This includes maintaining a steadfast dedication to a civilized development path that supports advanced production methods, prosperous living standards, and a healthy ecological environment. The bank aims to provide effective financial support and services to foster the sustainable development of the Chinese nation and to ensure the sharing of benefits with shareholders, customers, employees, society, and other stakeholders.

ICBC places significant emphasis on stakeholder communication. By establishing mechanisms for both immediate and regular dialogue, as well as coordinating communication on specific topics and engaging in international exchanges, the bank ensures continuous and meaningful interactions with key stakeholders. It actively encourages participation from relevant parties by leveraging new media platforms. To protect the rights and interests of investors and other stakeholders—particularly minority shareholders— ICBC strictly complies with domestic and international regulations regarding information disclosure. During the reporting period, the bank continuously enhanced its proactive information disclosure system within its periodic reporting framework and actively addressed investor concerns through its voluntary disclosure channels, making its information sharing more proactive and effective.

ICBC actively promotes the green, low-carbon, and sustainable development of its suppliers. Its centralized procurement process strictly complies with national regulations and upholds the principles of openness, fairness, justice, and integrity. The Administrative Measures for Centralized Procurement Suppliers have been revised to better specify management requirements for addressing significant risks and illegal activities related to environmental protection, social responsibility, and corporate governance among suppliers.

ICBC values its people, cares for its employees, and continuously improves its employee incentive mechanisms and training systems. It leverages the role of the employee representative assembly, emphasizes the protection of employees’ legitimate rights and interests, and promotes equality in employment and career development opportunities for female employees.

ICBC actively promoted consumer protection education and awareness. In 2024, it designated the year as the “Year of Consumer Protection Education Promotion Deepening” nationwide and launched a themed campaign titled “Deepening Consumer Protection Education Promotion.” During the reporting period, the bank organized over 202,600 financial education activities, reaching more than 1.856 billion individuals.

Additionally, 15,000 bank outlets established “ICBC Sharing Stations.” Utilizing the “ICBC Sharing Station” service platform, the bank enhanced collaboration with volunteer service organizations, offering volunteer services, assistance, and other public welfare initiatives to the community, thereby creating a “warm home” of volunteering, care, and support.

Furthermore, ICBC harnessed the Group’s social donation functions to assist the poor and vulnerable populations. It encouraged and guided employees to participate in volunteer activities, expanded community service channels, and supported social charity efforts.

How did ICBC identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2024 Sustainability Report ICBC reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

Aligned with national strategic priorities, ICBC intensified its financial support for emerging high-quality productive forces. It continued to deepen, implement, and refine the “Five Priorities,” while innovating across sectors such as green finance, inclusive finance, technology finance, pension finance, and digital finance. By providing higher-quality financial services, ICBC advanced sustainable economic and social development and fulfilled its role and responsibilities as a major state-owned bank.

ICBC established a comprehensive green finance system that integrates strategic planning, policy guidance, product innovation, and research collaboration to promote the comprehensive green and low-carbon transformation of the economy and society. Building on its extensive experience, the bank further promoted its green finance brand, “ICBC Green Bank+.” It continuously enhanced its green credit management system, refined guidance for industry credit policies, and incorporated green development indicators as key criteria. ICBC also developed binding environmental credit policies and integrated environmental, social, and climate-related risks into the entire credit management process. As of the end of the reporting period, the balance of green loans under the NFRA criteria surpassed RMB 6 trillion.

ICBC’s inclusive lending continued to grow, further strengthening its support for financing needs. As of the end of the reporting period, the total balance of the bank’s inclusive small and micro enterprise loans reached RMB 2.89 trillion, reflecting an increase of RMB 665.563 billion or 29.9% compared to the beginning of the year. ICBC served 2,083,400 inclusive loan customers, an increase of 616,600 or over 40% from the start of the year. The bank’s inclusive financial services received recognition through 15 significant awards, including the “2024 Cases of Innovative Practices in Building a Financial Powerhouse” awarded by people.cn. Additionally, it was rated as “Class A” in the 2023 Regulatory Evaluation of Financial Services for Small and Micro Enterprises by the National Financial Regulatory Administration.

ICBC prioritized the development of technology finance by accelerating the refinement and enhancement of the “five specialized” service system for technology finance. It provided high-quality financial services to technology enterprises, supporting their pursuit of advanced technological self-reliance and innovation. As of the end of the reporting period, the total loans to strategic emerging industries surpassed RMB 3.1 trillion.

To align with national strategies, improve public well-being, and support the silver economy, ICBC developed the Action Plan for Promoting Pension Finance Development. This plan introduced the “1134 Project” framework for pension finance and outlined over 50 measures to foster the growth of pension finance.

ICBC actively implemented the national strategy to strengthen China’s cyberspace capabilities and build a digital China. It fully supported the development of the digital economy by enhancing comprehensive financial support for key areas such as new digital infrastructure construction, innovation and addressing vulnerabilities in digital technology, promoting the healthy growth of the platform economy, and advancing industry digital transformation. The bank also facilitated major project development and the innovative growth of key enterprises. Additionally, it thoroughly advanced the development of D-ICBC, leveraging “data and technology” to empower business operations, accelerating the cultivation of new high-quality productive forces, and strengthening digital driving forces to promote high-quality growth.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by ICBC, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://v.icbc.com.cn/userfiles/resources/icbcltd/download/2025/esg2024en.pdf

Note to ICBC: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

The Basic Rules for Corporate Social Responsibility (ESG and Sustainable Finance) at ICBC define social responsibility as the commitment the Group makes towards promoting high-quality development. This includes steadfast adherence to a civilized development path that advocates advanced production, a prosperous lifestyle, and a healthy ecological environment. The bank aims to provide effective financial support and services for the sustainable development of the Chinese nation, while ensuring the sharing of benefits with shareholders, customers, employees, society, and other stakeholders.

ICBC places great importance on stakeholder communication. By establishing mechanisms for both immediate and regular dialogue, as well as coordinating discussions on specific topics and international exchanges, ICBC maintains continuous and effective communication with key stakeholders. It actively encourages stakeholder engagement by leveraging new media platforms. To protect the rights and interests of investors and other stakeholders, particularly minority shareholders, the bank strictly complies with domestic and international regulations on information disclosure. Throughout the reporting period, ICBC continuously enhanced its proactive information disclosure system, especially during periodic reports, and actively responded to investor inquiries through its voluntary disclosure channels, making its information sharing more proactive and effective.

ICBC actively promotes sustainable development among its suppliers, emphasizing green and low-carbon practices. The bank’s centralized procurement processes adhere to national regulations and are guided by principles of transparency, fairness, justice, and integrity. The Administrative Measures for Centralized Procurement Suppliers have been updated to better define management requirements for identifying significant risks and addressing illegal activities related to environmental protection, social responsibility, and corporate governance among suppliers.

ICBC values its people, showing care for employees by enhancing its employee incentive mechanisms and training systems. The bank actively leverages the role of the employee representative assembly, safeguards the legitimate rights and interests of employees, and prioritizes equality in employment and career development opportunities for female staff.

ICBC actively advances consumer protection education and awareness initiatives. In 2024, the bank designated it as the “Year of Consumer Protection Education Promotion Deepening” across all its operations and launched a themed campaign titled “Year of Consumer Protection Education Promotion Deepening.” During the reporting period, ICBC organized over 202,600 financial education activities, reaching more than 1.856 million individuals.

Additionally, 15,000 of the bank’s outlets established “ICBC Sharing Stations.” Utilizing the “ICBC Sharing Station” service platform, ICBC strengthened its collaboration with volunteer service organizations to provide volunteer assistance, support, and other community welfare services to the public, creating a “warm home” of volunteering, care, and aid.

ICBC utilized the Group’s social donation capabilities to assist the needy and vulnerable populations, encouraged and guided employees to engage in volunteer activities, expanded avenues for community service, and actively supported social charity.

How did ICBC work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?

In its 2024 Sustainability Report ICBC reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

As a responsible financial institution, ICBC has consistently integrated the principles of sustainable development into its deepened cooperation with customers, jointly fostering the coordinated advancement of the economy, society, and the environment.

ICBC has always prioritized the protection of consumer rights and interests as a key goal and essential management requirement within corporate governance. The bank has strengthened its overall planning for consumer protection and complaint handling at a high level, promptly revising and issuing relevant consumer protection policies, documents, and specialized management measures. Additionally, it established comprehensive consumer protection processes, including pre-emptive access and post-evaluation mechanisms, to ensure continuous enhancement of its consumer protection and governance capabilities. ICBC places great importance on safeguarding customers’ financial assets, intensifying efforts through measures such as preventing telecom fraud, upgrading alarm monitoring platforms, continuously improving security information service systems, and strengthening overseas security management support.

Furthermore, ICBC has continued to reinforce top-level design for data security and privacy protection by enhancing its data security and privacy frameworks. The bank has implemented multiple management measures to ensure the security of customer information and data, maintaining a robust defense against potential risks.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by ICBC, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://v.icbc.com.cn/userfiles/resources/icbcltd/download/2025/esg2024en.pdf

Note to ICBC: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

ICBC’s Basic Rules for Corporate Social Responsibility (ESG and Sustainable Finance) define social responsibility as the Group’s obligation to promote high-quality development while steadfastly following a civilizational path that supports advanced production, prosperous living, and a healthy environment. This includes offering effective financial support and services for the sustainable development of the Chinese nation, as well as ensuring equitable benefit-sharing with shareholders, customers, employees, society, and other stakeholders.

ICBC places a strong emphasis on communication with stakeholders. By establishing a framework that combines immediate and regular communication and facilitates discussions on specific topics and international exchanges, the bank ensures ongoing and positive engagement with key stakeholders. It actively utilizes new media platforms to encourage participation from relevant parties. To protect the rights and interests of investors, especially minority shareholders, ICBC strictly adheres to both domestic and international regulations on information disclosure. Throughout the reporting period, the bank consistently enhanced its proactive information disclosure system during periodic reporting and promptly addressed investor concerns through a voluntary disclosure column, making its communications more effective and responsive.

ICBC is committed to fostering green, low-carbon, and sustainable development among its suppliers. Its centralized procurement operations comply with national regulations and uphold the principles of transparency, fairness, justice, and integrity. The Administrative Measures for Centralized Procurement Suppliers have been updated to clarify the management requirements for assessing significant risks and illegal activities related to environmental protection, social responsibility, and corporate governance.

Valuing its employees, ICBC has invested in enhancing the employee incentive system and training programmes. It has maximized the role of employee representative assemblies, prioritized the protection of employees’ legitimate rights and interests, and advocated for equal employment opportunities and career development for female employees.

The bank is also proactive in promoting consumer protection education. It declared 2024 as the “Year of Consumer Protection Education Promotion Deepening” and launched initiatives tied to this theme. During the reporting period, ICBC conducted over 202,600 financial education activities, benefiting more than 1.856 million individuals.

Furthermore, the bank established “ICBC Sharing Stations” at 15,000 of its outlets. Utilizing the “ICBC Sharing Station” service platform, ICBC intensified its collaboration with volunteer service organizations, offering volunteer support, assistance, and other public welfare services to the community, thereby creating a “warm home” of volunteering, care, and assistance.

Additionally, ICBC utilized its Group’s social donation capabilities to support the poor and vulnerable, encouraged and guided employees to participate in volunteer activities, expanded channels for community service, and provided support for social charitable initiatives.

What actions were taken by ICBC on its PRB targets, green finance and inclusive finance?

In its 2024 Sustainability Report ICBC reports that it took the following actions on its PRB targets, green finance and inclusive finance:

• SMART Target 1: Green finance
• During the reporting period, ICBC released the “Opinions on Implementation of Supporting Green Development through Investment and Financing,” which outlined 18 specific measures across five key areas. These measures included strengthening support for critical green and low-carbon sectors, systematically advancing priorities related to carbon finance and transition finance, enhancing innovation in products and services, bolstering environmental, social, and governance (ESG) risk prevention and control, and improving support and guarantee mechanisms.
• Additionally, ICBC issued the 2024 Industry Investment and Financing Policy, which encompassed 50 industries across 17 segments, emphasizing a strong “green” focus while enhancing differentiated support and regulation. The Policy employs differentiated management strategies such as economic capital allocation, approval processes, pricing, and scale, aimed at guiding capital flow towards low-carbon and environmentally sustainable sectors. Moreover, the bank integrated key indicators, including technology, environmental friendliness, and energy consumption, into the client and project selection process for priority industries, thereby promoting the optimization of the industry structure.

• SMART Target 2: Inclusive finance
• ICBC implemented and enhanced its financing coordination mechanism to support small and micro enterprises. This involved the establishment of a four-tier collaborative and vertically integrated service system, encompassing the Head Office, branches, sub-branches, and outlets. Additionally, the bank effectively carried out the “Visiting Enterprises and Households” initiative. Utilizing a recommended list, ICBC expanded its customer outreach, facilitated efficient financing connections, and provided fast, convenient, and affordable capital services directly to the grassroots level.
• Furthermore, ICBC harnessed digitization to empower inclusive finance. It is committed to a technology-driven and innovation-led development approach, pursuing a path of online, intelligent, intensive, and ecological inclusive financial services, while continually enhancing its capabilities for high-quality development. The bank embraces the principle of “speaking with data and making decisions based on data”. Internally, it actively seeks effective information, while externally it engages in hierarchical alignment and broadens data dimensions to achieve complementary verification between internal and external data. This strategy lays a strong foundation for the innovation of digital inclusive financial products, modelling analysis, and targeted marketing.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
• FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
• FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by ICBC, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://v.icbc.com.cn/userfiles/resources/icbcltd/download/2025/esg2024en.pdf

Note to ICBC: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.