As the Industrial and Commercial Bank of China holds its Annual General Meeting, civic groups call for the bank to stop funding fossil fuels


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Global – Today the Industrial and Commercial Bank of China (ICBC), one of the three financial advisors of the East African Crude Oil Pipeline (EACOP), among other fossil fuel projects, is holding its Annual General Meeting (AGM), where shareholders will be making important decisions regarding the institution’s policies and investment plans. In preceding weeks, under the rallying calls #StopEACOP and #GoCleanICBC, and partners have led a campaign to pressure the bank to cease financing fossil fuel developments. While China pledged last year that it would no longer fund new coal projects overseas, this commitment excludes communities impacted by ICBC-funded...