A major issue that has focused attention on RCBC's climate commitments has been the investments in the bank by the World Bank's International Finance Corporation (IFC). Since 2011, the IFC has made a number of loans and equity investments in RCBC. Through a complaint to the IFC raised by community groups and international NGOs (see below), it has come to light that RCBC's sponsorship of 19 coal projects has led to the IFC's exposure to coal, which is out of step with its commitments not to finance coal power. RCBC was found to have subsequently invested in 10 coal plants after the IFC's initial involvement. The IFC was deemed by its independent ombudsman to have failed to adequately enforce its environmental and social Performance Standards for financial intermediaries in the case of RCBC. This has led to a management action plan being implemented. In spite of a commitment by RCBC in 2020 not to finance new coal plants, its ongoing involvement in a number of controversial coal projects has stayed in the spotlight due to the IFC complaints process.

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 RCBC’s fossil fuel policy below.