Best private bank for impact investing in China 2023
ICBC Private Banking
ICBC Private Banking has attracted attention with its impact investing in China, offering a range of investment products that not only generate financial returns but also have a positive social and environmental impact.
ICBC’s investment strategy is guided by the United Nations' Sustainable Development Goals (SDGs) and the Chinese government's dual carbon and common prosperity policies. Dual carbon refers to China’s goal to reach peak carbon dioxide emissions before 2030 and achieve carbon neutrality by 2060; common prosperity is the agenda focused on growing social equality and economic equity.
In line with that, ICBC's private banking products cover a wide range of impact themes including clean energy, sustainable agriculture, affordable housing and healthcare.
Green bonds are among ICBC's flagship ESG products, with money going towards green projects such as renewable energy, energy efficiency and pollution control. The fund has total assets under management of Rmb11.6 billion ($1.7 billion) and hit an average annual return of 4.95% over the past three years.
Another notable product is the Poverty Alleviation Bond fund, which supports poverty reduction efforts in rural areas through investments in education, healthcare and infrastructure. The fund has total assets under management of Rmb2.5