Shanghai Pudong Development Bank
600000
2
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Shanghai Pudong Development Bank was fined $2.3 million by the People’s Bank of China in 2018 for anti-money laundering compliance failures, including deficiencies in customer due diligence, suspicious transaction monitoring, and reporting. The penalty was part of a broader regulatory crackdown in China that year, which saw authorities impose meaningful fines on domestic financial institutions for fundamental lapses in their AML programs. These failures in financial crime controls represent a breach of regulatory obligations designed to protect the integrity of the financial system.
Shanghai Pudong Development Bank is a major Chinese commercial bank that provides significant financial services to fossil fuel companies. According to the Banking on Climate Chaos 2024 report, which tracks global bank financing for fossil fuels, the bank is a notable financier of the industry. The report aggregates lending and underwriting for fossil fuel companies, categorizing banks that provide capital for fossil fuel extraction, transportation, and power generation. As a provider of this critical ancillary service—capital—the bank enables the expansion and ongoing operation of fossil fuel infrastructure.
Research Sources
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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