http://www.enn.com/today.html?id=12748

Chinese banks have been critisized by green groups for their increase in funding for environmentally hazardous and controversial projects both in developing nations around the world and at home.

Many of these projects will be huge enrivonmental problems, involving building of dams and such. The responsibility too cannot be solely laid on the Chinese banks, for international banks such as HSBC, RBS, Citigroup, Goldman Sachs, and Bank of America all own large shares in Chinese banks.

This lack of environmental financing standards is causing much harm on the environment. Such large international corporations should be good role models of environmental-friendliness. It indeed is globalisation which has enabled the international banks to obtain control of the Chinese banks and used them as fronts to gain from the environmental projects available without tarnishing their name.