Active

Explanation

A bank can obtain a total of 200 policy points for its overall fossil fuel policies; 120 possible points for oil and gas policies and 80 possible points for coal policies. Based on this score banks are then classified as laggards (0-50 points), followers (50.5-100 points), front runners (100.5-150 points) or leaders (150.5-200 points).

For more details see this page.

Bank policy score on oil and gas financing

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

UniCredit Group

2020-03-01

ITA

25.5

Italy

Profile

Laggard

25.5

Follower

Front runner

Leader

1583017200

Last update: 2020-03-01

Explanation

Total: 25.5 points out of 120

5 points out of 20 for tar sands policy: see here.

5 points out of 20 for Arctic oil and has policy: see here.

3.5 points out of 20 for offshore oil and gas policy: see here.

8 points out of 20 for fracked oil and gas policy: see here.

3.5 points out of 20 for LNG policy: see here.

0.5 point out of 20 for other oil and gas policy.

Explanation

For each of the six subsectors, 20 possible policy points can be obtained, so a bank can obtain a total of 120 policy points for its oil and gas policies. Based on this score banks are then classified as laggards (0-30 points), followers (30.5-60 points), front runners (60.5-90 points) or leaders (90.5-120 points).

For more details see this page.

Bank policy score on coal financing

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

UniCredit Group

2020-09-04

ITA

Italy

Profile

Laggard

Follower

Front runner

Leader

1599170400

Last update: 2020-09-04

Explanation

Total: 75 points out of 80

30 points out of 32 for coal mining policy: see here.

30 points out of 32 for coal power policy: see here.

15 point out of 16 for other coal policy.

Explanation

For both coal mining and coal power, 32 possible policy points can be obtained, while for other coal,16 possible policy points can be obtained. So a bank can obtain a total of 80 policy points for its coal policies. Based on this score banks are then classified as laggards (0-20 points), followers (20.5-40 points), front runners (40.5-60 points) or leaders (60.5-80 points).

For more details see this page.

Bank policy score on fossil fuel expansion

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

UniCredit Group

2020-09-04

ITA

Italy

Profile

Laggard

Follower

Front runner

Leader

1599170400

Last update: 2020-09-04

Explanation

Total: 47 points out of 89

3 points for a moderate exclusion of tar sands projects: UniCredit prohibits financing for tar sands extraction projects, as well as "pipelines and other infrastructure SOLELY related" to tar sands -- which does not necessarily include all tar sands pipelines.

3 points for a moderate exclusion of Arctic oil and gas projects: UniCredit prohibits financing for Arctic oil extraction projects, onshore and offshore, and Arctic offshore gas extraction projects only, as well as "pipelines and other infrastructure SOLELY related" to onshore and offshore Arctic oil or offshore Arctic gas.

3 points for a moderate exclusion of fracked oil and gas projects: UniCredit prohibits financing for shale oil and gas extraction projects (including the use of fracking to extract shale oil and gas), as well as "pipelines and other infrastructure SOLELY related" to shale oil and gas. This pipeline commitment is too narrow to merit "strong exclusion."

1.5 points for a weak exclusion of LNG projects: UniCredit prohibits financing for LNG projects that are fed by shale gas, ultra-deepwater gas, or Arctic offshore gas.

6 points for a strong exclusion of coal mining projects: UniCredit excludes all types of banking services aimed at a coal-related project activity, regardless of any other consideration. This includes finance for new coal mines, existing coal mines and the expansion of coal mines.

8 points for a strong exclusion of companies expanding coal mining (coal mine developers): UniCredit does not provide any financial services to coal-related subjects (defined as all the companies/subjects operating in coal-fired power generation area + the thermal coal mining area) that expand the coal business (e.g. by expanding existing coal capacity or buying/building new production sites).

6 points for a strong exclusion of coal power projects: UniCredit excludes all types of banking services aimed at a coal-related project activity, regardless of any other consideration. This includes finance for new coal plants, existing coal plants and the expansion of coal plants.

8 points for a strong exclusion of companies expanding coal power (coal power developers): UniCredit does not provide any financial services to coal-related subjects (defined as all the companies/subjects operating in coal-fired power generation area + the thermal coal mining area) that expand the coal business (e.g. by expanding existing coal capacity or buying/building new production sites).

3 points for a strong exclusion of other coal projects: UniCredit excludes all types of banking services aimed at coal-related project activities (including infrastructures), regardless of any other consideration.

4 points for a strong exclusion of other coal companies expanding coal power: UniCredit does not provide any financial services to coal-related subjects (defined as all the companies/subjects operating in coal-fired power generation area + the thermal coal mining area) that expand the coal business (e.g. by expanding existing coal capacity or buying/building new production sites). This commitment includes distribution.

Relevant policies

Coal sector global policy

Arctic and Non-Conventional Oil & Gas Industry Sector Policy

References

UniCredit becomes the first non-French financial institution to adopt a high-quality coal policy

Reclaim Finance

Explanation

The scores for a bank's policies restricting expansion of fossil fuels - in each area, prohibitions against financing projects and/or companies expanding that area - are aggregated into a fossil fuel expansion policy score.

The point-based policy ranking for fossil fuel expansion consists of the following distribution:

Coal mining: 14 points
Coal power: 14 points
Other coal: 7 points
Tar sands: 9 points
Arctic oil and gas: 9 points
Offshore oil and gas: 9 points
Fracked oil and gas: 9 points
LNG: 9 points
Other oil and gas: 9 points

A bank can obtain a total of 89 policy points for its fossil fuel expansion policy. Based on this score, banks are then classified as laggards (0-22.25 points), followers (22.25-44.5 points), front runners (44.5-66.75 points) or leaders (66.75-89 points).

For more details see this page.

Bank policy scores on tar sands

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

UniCredit Group

2020-03-01

ITA

Italy

Profile

Laggard

Follower

Front runner

Leader

1583017200

Last update: 2020-03-01

Explanation

Total: 5 points out of 20

2 points for a weak exclusion threshold for tar sands companies: UniCredit requires new and existing clients to get ≤25% of their revenue from tar sands extraction; tar sands pipeline companies are not covered by this exclusion threshold. For existing clients above that threshold, they must have a plan to get below that threshold, to be evaluated annually.

Relevant policies

Arctic and Non-Conventional Oil & Gas Industry Sector Policy

Explanation

The point-based policy ranking above assesses bank policies in four ways:

1) Restriction on direct financing for tar sands projects.

None (0), weak exclusion (1.5), moderate exclusion (3), strong exclusion (4)

2) Restriction on financing for companies that expand tar sands.

None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for tar sands.

None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in tar sands above a certain threshold.

None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its tar sands policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

Bank policy score on fracked oil and gas

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

UniCredit Group

2020-03-01

ITA

Italy

Profile

Laggard

Follower

Front runner

Leader

1583017200

Last update: 2020-03-01

Explanation

Total: 8 points out of 20

5 points for a strong exclusion threshold for fracked oil and gas companies: UniCredit requires new and existing clients to get ≤25% of their revenue from shale oil and gas. For existing clients above that threshold, they must have a plan to get below that threshold, to be evaluated annually.

Relevant policies

Arctic and Non-Conventional Oil & Gas Industry Sector Policy

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for fracked oil and gas projects.

None (0), weak exclusion (1.5), moderate exclusion (3), strong exclusion (4)

2) Restriction on financing for companies that expand oil and gas fracking.

None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for oil and gas fracking.

None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in oil and gas fracking above a certain threshold.

None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its fracking policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

Bank policy score on Arctic oil and gas

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

UniCredit Group

2020-03-01

ITA

Italy

Profile

Laggard

Follower

Front runner

Leader

1583017200

Last update: 2020-03-01

Explanation

Total: 5 points out of 20

2 points for a weak exclusion threshold for Arctic oil and gas companies: UniCredit requires new and existing clients to get ≤25% of their revenue from onshore and offshore Arctic oil and/or offshore Arctic gas. For existing clients above that threshold, they must have a plan to get below that threshold, to be evaluated annually.

Relevant policies

Arctic and Non-Conventional Oil & Gas Industry Sector Policy

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for Arctic oil and gas projects.

None (0), weak exclusion (1.5), moderate exclusion (3), strong exclusion (4)

2) Restriction on financing for companies that expand Arctic oil and gas.

None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for Arctic oil and gas.

None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in Arctic oil and gas above a certain threshold.

None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its Arctic oil and gas policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

Bank policy score on offshore oil and gas

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

UniCredit Group

2020-03-01

ITA

3.5

Italy

Profile

Laggard

3.5

Follower

Front runner

Leader

1583017200

Last update: 2020-03-01

Explanation

Total: 3.5 points out of 20

1.5 points for a weak exclusion of offshore oil and gas projects: UniCredit prohibits financing for ultra-deepwater oil and gas extraction projects, as well as "pipelines and other infrastructure SOLELY related" to ultra-deepwater oil and gas.

2 points for a weak exclusion threshold for offshore oil and gas companies: UniCredit requires new and existing clients to get ≤25% of their revenue from ultra-deepwater oil and gas. For existing clients above that threshold, they must have a plan to get below that threshold, to be evaluated annually.

Relevant policies

Arctic and Non-Conventional Oil & Gas Industry Sector Policy

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for offshore oil and gas projects.

None (0), weak exclusion (1.5), strong exclusion (4)

2) Restriction on financing for companies that expand offshore oil and gas.

None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for offshore oil and gas.

None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in offshore oil and gas above a certain threshold.

None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its offshore oil and gas policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

Bank policy scores on LNG

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

UniCredit Group

2020-03-01

ITA

3.5

Italy

Profile

Laggard

3.5

Follower

Front runner

Leader

1583017200

Last update: 2020-03-01

Explanation

Total: 3.5 points out of 20

1.5 points for a weak exclusion of LNG projects: UniCredit prohibits financing for LNG projects that are fed by shale gas, ultra-deepwater gas, or Arctic offshore gas.

2 points for a weak exclusion threshold for LNG companies: UniCredit requires new and existing clients to get ≤25% of their revenue from LNG projects fed by shale gas, ultra-deepwater gas, or Arctic offshore gas. For existing clients above that threshold, they must have a plan to get below that threshold, to be evaluated annually.

Relevant policies

Arctic and Non-Conventional Oil & Gas Industry Sector Policy

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for LNG projects.

None (0), weak exclusion (1.5), strong exclusion (4)

2) Restriction on financing for companies that expand LNG.

None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for LNG.

None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in LNG above a certain threshold.

None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its LNG policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

Bank policy score on coal power

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

UniCredit Group

2020-09-04

ITA

Italy

Profile

Laggard

Follower

Front runner

Leader

1599170400

Last update: 2020-09-04

Explanation

Total: 30 points out of 32

8 points for a strong phase-out commitment: UniCredit is committed to a reduce its exposure to the coal sector to zero by 2028 globally.

8 points for a strong exclusion threshold for coal power companies: UniCredit will not provide any banking services to coal-related subjects (including subsidiaries) that get more than 25% of their current revenues in the coal business. From end 2021 onwards, companies also need to have a credible plan in place phasing out their coal business by 2028.

Relevant policies

Coal sector global policy

References

UniCredit becomes the first non-French financial institution to adopt a high-quality coal policy

Reclaim Finance

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for coal power projects.

None (0), weak exclusion (2), moderate exclusion (4), strong exclusion (6)

2) Restriction on financing for companies that expand coal power.

None (0), weak exclusion (4), strong exclusion (8)

3) The bank’s commitment to phase-out financing for coal power.

None (0), proportional reduction (1), exposure reduction (1.5), financing reduction (3), weak phase-out (4), moderate phase-out (6), strong phase-out (8)

4) The bank’s commitment to exclude companies active in coal power above a certain threshold.

None (0), enhanced due diligence (0.5), weak exclusion threshold (3), moderate exclusion threshold (5), strong exclusion threshold (8), full exclusion (10)

A bank can obtain a total of 32 policy points for its coal power policy. Based on this score banks are then classified as laggards (0-8 points), followers (8.5-16 points), front runners (16.5-24 points) or leaders (24.5-32 points).

For more details see this page.

Bank policy score on coal mining

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

UniCredit Group

2020-09-04

ITA

Italy

Profile

Laggard

Follower

Front runner

Leader

1599170400

Last update: 2020-09-04

Explanation

Total: 30 points out of 32

8 points for a strong phase-out commitment: UniCredit is committed to a reduce its exposure to the coal sector to zero by 2028 globally.

8 points for a strong exclusion threshold for coal mining companies: UniCredit will not provide any banking services to coal-related subjects (including subsidiaries) that get more than 25% of their current revenues in the coal business. From end 2021 onwards, companies also need to have a credible plan in place phasing out their coal business by 2028.

Relevant policies

Coal sector global policy

References

UniCredit becomes the first non-French financial institution to adopt a high-quality coal policy