Is Chinese bank ICBC’s coal exit a power move for a greener belt and road?

Jun 13, 2021 | INVESTING

China’s move away from fossil fuel towards renewable energy is gaining momentum after the Industrial and Commercial Bank of China (ICBC) announced it would start to phase out the financing of coal power.Speaking at the International Financial Forum Spring Meeting in Beijing on May 29, ICBC chief economist Zhou Yueqiu said the bank would “establish a road map and timeline for the gradual withdrawal of coal financing”, an announcement observers deemed significant.ICBC, China’s largest bank in…

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