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China Merchants Bank Tower. Photo: Cocoablini via Wikimedia (CC0)

Active

This profile is actively maintained
Last update: 2024-02-08 00:00:00
Contact:

Bank info
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About
Website http://english.cmbchina.com/
Headquarters
China Merchants Bank Tower, No 7088, Shennan Boulevard
518040 Shenzhen
China
CEO/chair Miao Jianmin
Chairman and non-Executive Director
Supervisor
China Banking and Investment Regulatory Commission (CBIRC)
Ownership
listed on Hong Kong Stock Exchange & Shenzhen Stock Exchange

China Merchants Bank's largest shareholder is the China state-owned Assets Supervision & Admn Commission (39.8%). The bank's complete shareholder structure can be accessed here.

China Merchants Bank (CMB) was established in April 1987 and it is headquartered in Shenzhen, China. The bank was China's first joint-stock commercial bank. CMB primarily focuses on the Chinese domestic market, offering corporate and retail banking products. For overseas markets, CMB has two wholly-owned subsidiaries: Wing Lung Bank and CMB International Capital Corporation and branches in Hong Kong, New York, Taipei and London.

Sustainability
Commitments
Policies
Voluntary standards

China Merchants Bank does not have a webpage on its sustainability commitments. Its csr webpage only lists the bank's most recent csr reports.

Links

Corporate social responsibilities

Guidelines on environmental information disclosure for financial institutions

Bank policy
2021-07-22 00:00:00 | People's Bank of China
China Merchants Bank has committed itself to the following voluntary standards:
AA1000 Series of StandardsTags: transparency
Global Reporting InitiativeTags: sustainable development | human rights
ISO 26000Tags:
Natural Capital DeclarationTags: sustainable development | finance | natural resources | corporate social responsibility
UNEP Finance InitiativeTags: United Nations | sustainable development
Dodgy Deals

China Merchants Bank is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of China Merchants Bank's link to these deals.

Projects / Companies
Finance type
Year
News
BankTrack
Partners
Blog
External
Blog
BankTrack news BankTrack blog Partner news Partner blog

Major ‘coal banks’ refuse to stop financing coal power boom in Asia

To stop a wave of new coal development across Asia, the End Coal Finance coalition is asking likely financiers to pledge not to back new coal power projects.
2024-11-14 | Nijmegen | BankTrack, Inclusive Development International, Recourse
Blog
BankTrack news BankTrack blog Partner news Partner blog

Major banks fueling biodiversity collapse by $395 billion since the Paris Agreement; Governments failing to reign in banks

New reports reveal escalating financing to destructive sectors and highlight the urgent need for financial sector regulations to achieve Global Biodiversity Goals
2024-10-16 | San Francisco | BankTrack, Amazon Watch, CED Cameroon, Friends of the Earth US, Milieudefensie, Profundo, Rainforest Action Network, Repórter Brasil, Sahabat Alam Malaysia, TuK Indonesia
Blog
BankTrack news BankTrack blog Partner news Partner blog

Energy supply financing ratios: the next milestone in banks’ climate strategy

The energy supply financing ratio is a key indicator that synthesizes two major challenges in limiting global warming to 1.5°C: the phase-out of fossil fuels and the development of sustainable alternatives.
2024-10-07 | Reclaim Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks financed fossil fuels by $6.9 trillion dollars since the Paris Agreement; $705 billion provided in 2023 alone; JPMorgan Chase, Mizuho, and Bank of America are worst 3 funders

Annual Banking on Climate Chaos report with an updated methodology offers comprehensive look at who’s bankrolling the climate crisis
2024-05-13 | BankTrack, urgewald, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks have not quit coal, 8 years after the Paris Agreement

Banks in China dominate global coal financing; those in Indonesia are outliers in having increased finance for coal since 2016
2024-05-03 | Nijmegen | Will O'Sullivan – BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

The banks financing dirty steel

The world’s major banks continue to support the largest and most polluting steel producers
2024-03-26 | Paris, France | Reclaim Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

The causes fueling the climate crisis are receiving 20 times more financing than the solutions, new groundbreaking report by ActionAid reveals

2023-09-04 | ActionAid
Blog
BankTrack news BankTrack blog Partner news Partner blog

Decarbonization: steel not making the cut

Analysis by Reclaim Finance shows that few financial institutions have steel targets, and that those that have been adopted are riddled with flaws
2023-08-23 | Reclaim Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report: Canadian bank RBC the #1 financier of fossil fuels, world’s biggest banks continued to pour billions into fossil fuel expansion

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations
2023-04-13 | San Francisco | BankTrack, urgewald, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
BankTrack news BankTrack blog Partner news Partner blog

CBIRC releases the Green Finance Guidelines for Banking and Insurance Sectors

2022-06-02 | China Banking and Insurance Regulatory Commission
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report: Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations
2022-03-30 | San Francisco, Bemidji, Nijmegen, Oakland, Paris, Sassenberg, Washington DC | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club, Urgewald
Blog
BankTrack news BankTrack blog Partner news Partner blog

A future without coal: banking on Asia's just energy transition

2021-11-10 | Fair Finance Asia
Blog
BankTrack news BankTrack blog Partner news Partner blog

Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit

210+ groups support urgent call to action
2021-09-23 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Forests & Finance Coalition warns foreign investors about the risk of the anti-environment agenda in the Brazilian Congress

2021-08-19 | Forests & Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

China is world’s second largest financier of deforestation-linked commodities

New study finds significant risk associated with nearly 15 billion USD in loans and underwriting by Chinese financial institutions
2021-05-04 | BankTrack, Forests & Finance, Profundo, Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement

Even amidst the global economic downturn, fossil fuel financing numbers were higher in 2020 than 2016
2021-03-24 | Nijmegen | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
Blog
BankTrack news BankTrack blog Partner news Partner blog

Global finance sector failing to apply conservation criteria to pulp and paper funding

2020-03-21 | New York/Amsterdam | Environmental Paper Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Indigenous Groups Lead Movement to Call on Banks to Drop Enbridge’s Controversial Line 3 Pipeline

Tribal Nations based in Minnesota oppose the project and the Minnesota Department of Commerce has condemned it
2017-09-21 | Minneapolis, MN | Honor the Earth, Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Financiers of pulp and paper industry projects will cause environmental and social harm, says new report

2017-08-01 | Mandy Haggith – Environmental Paper Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Call for banks to divest from APRIL

Social conflict and environmental destruction are rife in its operations
2014-12-10 | Nijmegen | BankTrack, Mandy Haggith – Environmental Paper Network
BankTrack news BankTrack blog Partner news Partner blog

Chinese banks ignore pleas of Ecuador mining campaigners

The failure to respond to an NGO letter challenging investment in the Mirador mining project has played to Ecuadorian fears about China's growing clout
2014-05-14 | Beijing | China Dialogue
Resources
Documents
Links

Banking on biodiversity collapse 2024

Partner publication
2024-10-16 00:00:00 | Forest and Finance Coalition

Banking on climate chaos 2024

Fossil fuel finance report 2024
BankTrack publication
2024-05-13 00:00:00 | BankTrack, urgewald, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance & Sierra Club

Annual report 2023

Annual report
2024-05-06 00:00:00 | China Merchants Bank

Still Banking on Coal press release

Commercial Banks Still Deep into Coal 8 Years After Paris
Partner publication
2024-05-02 00:00:00 | Urgewald

Commercial Banks Still Deep into Coal 8 Years After Paris

NGO document
2024-05-02 00:00:00 | Urgewald

Finance for War. Finance for Peace

How values-based banks foster peace in a world of increasing conflict
Other document
2024-02-28 00:00:00 | Banca Etica Group and the Global Alliance for Banking on Values (GABV)

CSR report 2022

Annual report
2023-07-10 00:00:00 | China Merchants Bank

Annual report 2022

Annual report
2023-05-15 00:00:00 | China Merchants Bank

Banking on Climate Chaos 2023

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations
BankTrack publication
2023-04-13 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club, Urgewald

Background briefing: Just 7% of global banks' energy financing goes to renewables, new data shows

BankTrack publication
2023-01-27 00:00:00 | Profundo for Sierra Club, Fair Finance International, BankTrack, Rainforest Action Network

Who is Who No. 3 - Chinese commercial banks: an NGO guide

Partner publication
2023-01-23 00:00:00 | Urgewald

The East African Crude Oil Pipeline (EACOP): Finance Risk Update No. 3 (Chinese version)

东非原油管道：金融风险简报（更新三）
BankTrack publication
2022-09-12 00:00:00 | BankTrack

CSR report 2021

Annual report
2022-07-12 00:00:00 | China Merchants Bank

Banking Asia's Future

How to Align with National Climate Plans
Other document
2022-03-31 00:00:00 | Aviva: Asia Research and Engagement

Banking on Climate Chaos 2022

Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021
BankTrack publication
2022-03-30 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club, urgewald

Annual report 2021

Annual report
2022-03-29 00:00:00 | China Merchants Bank

Recipients of the letter about the risk of the anti-environment agenda in the Brazilian Congress

NGO document
2021-08-19 00:00:00 | BankTrack

Guidelines on environmental information disclosure for financial institutions

Bank policy
2021-07-22 00:00:00 | People's Bank of China

CSR Report 2020

Annual report
2021-06-08 00:00:00 | China Merchants Bank

Annual report 2020

Annual report
2021-03-09 00:00:00 | China Merchants Bank

Annual report 2019

Annual report
2020-07-31 00:00:00 | China Merchants Bank

CSR report 2019

Annual report
2020-07-31 00:00:00 | China Merchants Bank

CSR Report 2018

Annual report
2019-07-31 00:00:00 | China Merchants Bank

Annual report 2018

Annual report
2019-07-31 00:00:00 | China Merchants Bank

Letter from 30 Indonesian NGOs to PT RAPP financiers on current situation of PT RAPP (APRIL's main supplier)

Correspondence
2017-11-24 00:00:00 | 30 Indonesian NGOs

Financiers of IOI and Asia Pulp & Paper (APP) face material ESG risks from failure to respect land tenure rights

NGO document
2017-03-27 00:00:00 | RAN, TuK & Profundo

Green Paper, Red lines

Chinese version
BankTrack publication
2016-09-01 00:00:00 | BankTrack

Green Paper, Red Lines

Requirements for pulp and paper industry finance
BankTrack publication
2016-06-02 00:00:00 | BankTrack, Environmental Paper Network

Letter from EPN to Banks investing in April on APRIL

Correspondence
2014-12-10 00:00:00 | EPN

Going out, but going green?

Assessing the implementation of China's Green Credit Guidelines
BankTrack publication
2014-11-25 00:00:00 | BankTrack, Friends of the Earth US

Green Credit Footprint of Chinese banks (2008-2012)

-Chinese version-
NGO document
2013-11-25 00:00:00 | Green Watershed

Environmental report on Chinese banks 2011

-English summary-
NGO document
2012-11-26 00:00:00 | Green Watershed

Letter from BankTrack et al. to various financial institutions on APP

Correspondence
2012-11-06 00:00:00 | BankTrack et al.

Worldwide Investments in Cluster Munitions - June 2012 update

A shared responsibility
NGO document
2012-06-10 00:00:00 | FairFin and IKV Pax Christi

Environmental Report on Chinese Banks (2011)

-Chinese version-
NGO document
2012-04-18 00:00:00 | Green Watershed

Executive Summary of Environmental Report on Chinese Banks (2011)

NGO document
2012-03-28 00:00:00 | Green Watershed

Notice of the CBRC on Issuing the Green Credit Guidelines

Other bank document
2012-02-24 00:00:00 | China Banking Regulatory Commission

民间环保组织就陆良化工铬污染事件致16家中资上市银行的公开信（Chinese）

Correspondence
2011-08-29 00:00:00 | Green Watershed

An Open Letter from a Coalition of Environmental NGOs to 16 Chinese banks Regarding the Chromium Pollution Incident in Luliang(English)

Correspondence
2011-08-29 00:00:00 | Green Watershed

Environmental Record of Chinese Banks 2010

NGO document
2011-07-06 00:00:00 | Green Watershed
Accountability
Grievances

China Merchants Bank does not operate a complaints channel for individuals or communities that might have been affected by the bank's finance.

This page evaluates China Merchants Bank's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring

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Banks and Climate

Banks and Climate

The 2024 Banking on Climate Chaos report showed that China Merchants Bank provided US$ 84.089 Billion in financing to the fossil fuel industry between 2016 and 2023. In 2023 only, China Merchants Bank provided US$ 8.685 Billion for oil, gas and coal companies expanding fossil fuels. Find further details on China Merchants Bank fossil fuel portfolio and how it compares to other large banks globally on Fossil Banks No Thanks and in the Banking on Climate Chaos report.

Fossil fuel finance data China Merchants Bank

Banking on Climate Chaos fossil fuel finance data

Partner organisation Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in their Coal Policy Tool (CPT) and the Oil and Gas Policy Tracker (OGPT). BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of China Merchants Bank's fossil fuel policy below.

Assessment of China Merchants Bank coal policy in the Coal Policy Tool

Assessment of China Merchants Bank oil and gas policy in the Oil and Gas Policy Tracker
Banks and Nature

Banks and Nature

China Merchants Bank’s policies for forest-risk sectors (beef, soy, palm oil, pulp and paper, rubber and timber) have been assessed by the Forests & Finance coalition, achieving an overall score of 0.2 out of 10 and ranking it as a laggard. China Merchants Bank achieved a score of 0 out of 10 specifically for its policies related to the beef sector and 0.2 out of 10 for its policies related to the palm oil sector. In addition, BankTrack and the Environmental Paper Network have assessed China Merchants Bank’s policies related to the pulp and paper sector. 

Between 2016 and 2022, China Merchants Bank provided USD 1,561 million in credit to companies operating in these forest-risk sectors and held investments amounting to USD 27 million as of 2022. For more information, see the links below.

Forests & Finance

Banks and beef

Banks and palm oil

Banks and pulp & paper

Forest & Finance Policy Assessment 2022: Overall scores

BankLast update
Country
Score
Ranking
Details
China Merchants Bank
2022-09-21
CHN
0.2
Laggard 0.2
Explanation

A bank can obtain a total of 10 points for the quality of its policies. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.

Forest & Finance Policy Assessment 2022: Beef

BankLast update
Country
Score
Ranking
Details
China Merchants Bank
2022-09-21
CHN
0
Laggard 0
Explanation

A bank can obtain a total of 10 points for the quality of its beef policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.

Forest & Finance Policy Assessment 2022: Palm Oil

BankLast update
Country
Score
Ranking
Details
China Merchants Bank
2022-09-21
CHN
0.2
Laggard 0.2
Explanation

A bank can obtain a total of 10 points for the quality of its palm oil policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.
Banks and Steel

Banks and Steel

According to a report by Reclaim Finance, between 2016 and June 2023, China Merchants Bank provided $6 billion in finance to the fossil-steel industry, making it the 21st largest financier worldwide. Find further details on China Merchants Banks' steel financing and how it compares to other large banks globally in the report. 

Steeling our future: The banks propping up coal-based steel