A recent report by environment groups has blamed Chinese banks for investing in environment-unfriendly and controversial projects within the
country as well as in developing nations.
The report, Time to go Green Environmental Responsibility in the Chinese Banking Sector, was taken out by Friends of the Earth's us chapter and Utrecht-based BankTrack, a network of civil society groups and individuals.
The report cited controversial Chinese projects like the South-to-North water diversion project and the China National Machinery and Equipment
Import-Export Corp, which are financed by banks in the country. It said China was financing controversial and polluting projects in other countries.
Among them are China International Marine Container in Suriname, Kiani Kertas pulp mill in Indonesia, Belinga iron ore mine in the Gabonese Republic
and Merowe Dam Project in Sudan.International banks, with large shares in Chinese banks, have also complained of their lack of green financing
standards.
We are a voice to you; you have been a support to us. Together we build journalism that is independent, credible and fearless. You can further help us by making a donation. This will mean a lot for our ability to bring you news, perspectives and analysis from the ground so that we can make change together.
.png)
Comments are moderated and will be published only after the site moderator’s approval. Please use a genuine email ID and provide your name. Selected comments may also be used in the ‘Letters’ section of the Down To Earth print edition.