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Postal Savings Bank of ChinaChina

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Last update: 2024-02-13 14:56:08
A branch of Postal Savings Bank of China. Photo: Edouardlicn via Wikimedia Commons (CC BY SA 3.0)

Active

This profile is actively maintained
Last update: 2024-02-13 14:56:08
Bank info
BankTrack campaigns
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About
Website http://www.psbc.com/cn/index.html
Headquarters
No. 131 Xuanwumen West Street, Xicheng District
100808 Beijing
China
CEO/chair Jian Jun Liu
President & Executive Director
Supervisor
Central Bank of the Republic of China (Taiwan)
Ownership
listed on Hong Kong Stock Exchange

PSBC's shareholder structure can be accessed here.

Postal Savings Bank of China (also known as PSBC) is a commercial retail bank founded in 2007 and headquartered in Beijing. Its origins date back to 1919 when the Postal Savings Bureau, the predecessor of China Post Savings, was established. PSBC provides basic financial services, especially to small and medium-sized enterprises, rural and low income customers. The bank has close to 40,000 branches covering all regions of China and serves nearly 650 million customers.

Sustainability
Commitments
Policies
Voluntary standards

Postal Savings Bank of China does not have publicy available bank policies, nor does it have a web page on its sustainability commitments. The bank's web page on corporate social responsibility only lists its most recent annual CSR reports.

Postal Savings Bank of China has committed itself to the following voluntary standards:
Global Reporting InitiativeTags: sustainable development | human rights
Principles for Responsible Banking (PRB)Tags: climate change | corporate social responsibility | finance | sustainable development | United Nations | Voluntary Standards
Task Force on Climate-related Financial Disclosures (TCFD)Tags: corporate social responsibility | finance
Dodgy Deals

Postal Savings Bank Of China 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 Postal Savings Bank Of China'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

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

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

World Bank is backing dozens of new coal projects, despite climate pledges

New research shows that the IFC is providing back-door support to at least 39 new coal projects throughout China, Indonesia and Cambodia.
2023-10-04 | Inclusive Development International, Recourse, Trend Asia
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

IFC must stop funding fossil fuels via financial intermediaries, new report says

2023-04-12 | Recourse
Blog
BankTrack news BankTrack blog Partner news Partner blog

IFC announces it will stop clients funding new coal projects

2023-04-04 | Recourse
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

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

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
BankTrack news BankTrack blog Partner news Partner blog

CBIRC penalises state-owned financial institutions and subsidiaries

2021-01-11 | Regulation Asia
BankTrack news BankTrack blog Partner news Partner blog

IFC watchdog investigates Postal Savings Bank of China over loan for Indonesian mine

2020-07-27 | South China Morning Post
Resources
Documents

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
2024-04-15 00:00:00 | Postal Savings Bank of China

Blowing Smoke

How Coal Finance is Flowing through the IFC’s Paris Alignment Loopholes
Partner publication
2023-10-04 00:00:00 | IDI

Annual report 2022

Annual report
2023-07-10 00:00:00 | Postal Savings bank of China

CSR report 2022

Annual report
2023-06-13 00:00:00 | Postal Savings Bank of China

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
2022-07-05 00:00:00 | Postal Savings Bank of China

Annual report 2021

Annual report
2022-04-13 00:00:00 | Postal Savings Bank of China

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

CSR Report 2020

Annual report
2021-07-06 00:00:00 | Postal Savings Bank of China

Annual report 2020

Annual report
2021-06-15 00:00:00 | Postal Savings Bank of China

CSR report 2019

Annual report
2020-08-01 00:00:00 | PSBC

Annual report 2019

Annual report
2020-08-01 00:00:00 | PSBC

CSR Report 2018

Annual report
2020-07-15 00:00:00 | PSBC
Accountability
Grievances

Postal Bank of China does not operate a complaints or grievances mechanism for individuals or communities that might have been affected by the bank's finance.

This page evaluates Postal Savings Bank of China'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 Postal Savings Bank of China provided US$ 16.299 Billion in financing to the fossil fuel industry between 2016 and 2023. In 2023 only, Postal Savings Bank of China provided US$ 1.098 Billion for oil, gas and coal companies expanding fossil fuels. Find further details on Postal Savings Bank of China 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 Postal savings Bank of China

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 Postal Savings Bank of China's fossil fuel policy below.

Assessment of Postal savings Bank of China coal policy in the Coal Policy Tool

Assessment of Postal savings Bank of China oil and gas policy in the Oil and Gas Policy Tracker
Banks and Steel

Banks and Steel

According to a report by Reclaim Finance, between 2016 and June 2023, Postal Savings Bank of china provided $2.9 billion in finance to the fossil-steel industry, making it the 46th largest financier worldwide. Find further details on Postal Savings Bank of China's steel financing and how it compares to other large banks globally in the report. 

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