Total: 3 points out of 18

3 points for a strong exclusion of Arctil oil and gas projects: ABN AMRO prohibits direct finance for Arctic oil and gas exploration, production, and supporting services.

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 2.5 point out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: Bank of America prohibits direct financing of petroleum exploration or production activities in the Arctic, including both oil and gas development. The prohibition does not cover Arctic oil and gas-related infrastructure.

0.5 point for enhanced due diligence regarding Arctic oil and gas companies: Bank of America conducts enhanced due diligence for Arctic-related transactions.

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 1 point out of 18

1 point for a weak exclusion of Arctic oil and gas projects: BMO intends to exclude direct finance for exploration and development projects in the Arctic National Wildlife Refuge (ANWR). It does not mention infrastructure, the policy is restricted to the ANWR and the bank only expressed its "intention" to exclude project finance which makes it a weak policy.

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Total: 4 points out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: Barclays will not directly finance oil and gas projects in the Arctic Circle, including but not limited to the ANWR. The policy does not mention infrastructure.

2 points for a weak exclusion threshold regarding Arctic oil and gas companies: Barclays will not provide any financing to companies primarily engaged in oil and gas exploration and production operations or plans in the Arctic Circle, including but not limited to the ANWR.

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Total: 3 points out of 18

3 points for a strong exclusion of Arctic oil and gas projects: BBVA prohibits financing for Arctic oil and gas exploration, production and transportation projects.

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Total: 7 points out of 18

3 points for a strong exclusion of Arctic oil and gas projects: BNP Paribas prohibits financing for offshore Arctic oil and gas exploration and production projects, as well as pipelines and LNG terminals related to offshore Arctic oil and gas only.

4 points for a moderate exclusion threshold for Arctic oil and gas companies: BNP Paribas prohibits financing for companies (a) for which unconventional oil and gas (including Arctic oil and gas) is a significant part of their reserves, (b) for which unconventional oil and gas accounts for a significant share of revenue, or (c) which own or operate pipelines or LNG terminals with a significant volume of unconventional oil and gas.

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Total: 2 points out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: CaixaBank prohibits any project-related financing "involving oil and gas exploration or production in the arctic region." This policy does not cover infrastructure in the region.

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Total: 3 points out of 18

1 points for a weak exclusion of Arctic oil and gas projects: CIBC prohibits direct financing for "exploration or development related to oil and gas in the Arctic National Wildlife Refuge (ANWR)."

2 points for a weak exclusion threshold for Arctic oil and gas companies: CIBC will not directly finance companies that are involved in exploration or development related to oil and gas in the Arctic National Wildlife Refuge (ANWR).

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 2.5 point out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: Citigroup will not provide project-related financing for oil and gas exploration and production in the Arctic Circle. The policy does not mention infrastructure.

0.5 point for enhanced due diligence regarding Arctic oil and gas companies: Citi conducts enhanced due diligence for "project-related lending to frontier exploration and development," which includes "Arctic exploration and production."

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Total: 2 points out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: Commerzbank prohibits project financing related to the extraction of oil and gas in the Arctic. The policy does not mention infrastructure.

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Total: 2.5 points out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: Commonwealth Bank prohibits project finance for oil and gas exploration and development in the Arctic. There is no prohibition on pipelines, LNG terminals in the Arctic, or other infrastructure.

0.5 point for enhanced due diligence regarding Arctic oil and gas companies: Commonwealth Bank explicitly requires that new oil and gas projects, including Arctic oil and gas projects, be "in line with the goals of the Paris Agreement". While without further detail on implementation, this does not qualify as a project finance restriction, it does qualify for enhanced due diligence in the sector.

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Total: 2.5 points out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: Crédit Agricole prohibits oil projects in the Arctic, but the exclusion does not cover gas.

0.5 point for enhanced due diligence regarding Arctic oil and gas companies: Crédit Agricole conducts enhanced due diligence for Arctic oil and gas companies.

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Total: 4.5 points out of 18

3 points for a strong exclusion of Arctic oil and gas projects: Crédit Mutuel prohibits financing for the exploration, production, transport infrastructure of oil and gas extracted in the Arctic.

1.5 points for the commitment to reduce financing for Arctic oil and gas companies: Crédit Mutuel will prohibit financing to companies which derive a significant proportion of their revenues from the exploration or production of Arctic oil and gas.

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Total: 3 point out of 18

3 points for a strong exclusion of Arctil oil and gas projects: Credit Suisse will not finance offshore or onshore oil or gas projects in the Arctic region. This includes upstream exploration, development and production, as well as midstream and downstream operations.

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Total: 4 points out of 18

4 points for a moderate exclusion threshold for Arctic oil and gas companies: Danske Bank does not provide financial services to companies that generate more than 5% of their revenues from frontier (including Arctic) oil and gas exploration and production. A company may be exempted from this threshold if it "can demonstrate their commitment, and ability, to phase-out the use and production of fossil fuels in alignment with the 2015 Paris Agreement." The exemption rule does not apply to companies that generate more than 15% of their revenue from the Barents Sea in the Arctic.

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Total: 0 points out of 18

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Total: 2.5 point out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: Deutsche Bank will not finance new oil and gas projects in the Arctic region (Arctic region being defined based on a 10°C July Isotherm boundary, meaning the area does not experience temperatures above 10° C).

0.5 point for enhanced due diligence regarding Arctic oil and gas companies: Deutsche Bank has enhanced due diligence for Arctic oil and gas exploration.

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 2.5 points out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: Goldman Sachs prohibits financing for new Arctic oil projects onshore and offshore, including exploration. Financing for gas projects, as well as for infrastructure related to Arctic oil and gas, are not covered by this policy.

0.5 point for enhanced due diligence regarding Arctic oil and gas companies: Goldman Sachs conducts enhanced due diligence "for transactions relating to Arctic oil."

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Total: 2 points out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: HSBC prohibits direct finance for new offshore Arctic oil and gas projects.

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 5 points out of 18

1 point for a weak exclusion of Arctic oil and gas projects: ING prohibits financing for "Arctic offshore oil and gas exploration and production" projects.

4 points for a moderate exclusion threshold for Arctic oil and gas companies: ING prohibits financing for companies >30% reliant on offshore Arctic oil and gas.

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Total: 7 points out of 18

2 points for a moderate exclusion for Arctic oil & gas projects: Intesa Sanpaolo will not provide financial products and services to projects aimed at the development, construction and expansion of exploration and extraction activities relating to Arctic oil & gas (onshore and offshore), as well as activities relating to transport infrastructures solely linked to exploration and extraction of Arctic oil & gas. The exclusion only applies to lending, not underwriting.

2 points for a weak exclusion threshold: Intesa Sanpaolo excludes "companies with significant revenues from unconventional resources". The exclusion only applies to lending, not underwriting.

3 points for a weak phase-out for Arctic oil & gas: Intesa Sanpaolo will terminate its exposure linked to Arctic oil & gas (onshore and offshore) by 2030. This only applies to lending, not underwriting.

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Total: 3.5 points out of 18

3 points for a strong exclusion of Arctic oil and gas projects: JPMorgan Chase prohibits financing for "upstream, midstream or downstream greenfield oil and gas development in the Arctic."

0.5 point for enhanced due diligence regarding Arctic oil and gas companies: JPMorgan Chase conducts enhanced due diligence for transactions "within the broader Arctic region."

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Total: 0 points out of 18

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Total: 3 points out of 18

1 point for a weak exclusion of Arctic oil and gas projects: KBC prohibits financing for exploration and development projects, but not infrastructure.

2 points for a weak exclusion threshold for Arctic oil and gas companies: KBC prohibits financing for "specialist companies that are only active in the development and extraction of oil and gas fields," which includes some Arctic oil and gas companies.

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Total: 2 points out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: Lloyds Banking Group does not finance oil or gas exploration and production projects in the Arctic (including the Arctic National Wildlife Refuge) region or Antarctic territories.

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding Arctic oil and gas companies: MUFG conducts enhanced due diligence when it considers providing finance for the extraction of new oil and gas in the Arctic Region.

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Total: 0 points out of 18

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Total: 2.5 point out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: Morgan Stanley will not directly finance new oil and gas exploration and development in the Arctic, including the Arctic National Wildlife Refuge (ANWR). The policy does not mention infrastructure.

0.5 point for enhanced due diligence regarding Arctic oil and gas companies: Morgan Stanley conducts enhanced due diligence for transactions related to Arctic oil and gas development.

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Total: 1 point out of 18

1 point for a weak exclusion of Arctic oil and gas projects: NAB prohibits financing for "oil and gas projects within or impacting the Arctic National Wildlife Refuge."

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Total: 2 points out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: Natixis prohibits direct finance for Arctic oil exploration and production.

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Total: 2.5 points out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: NatWest does not finance projects involving oil exploration and production operations in Arctic (including the Arctic National Wildlife Refuge) or Antarctic areas.

0.5 point for enhanced due diligence regarding Arctic oil and gas companies: NatWest conducts enhanced due diligence for ''companies conducting oil exploration and production operations in Arctic (including the Arctic National Wildlife Refuge) and Antarctic areas- without reliable evidence of appropriate environmental and health and safety policies and procedures for operating in these regions.''

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Total: 0 points out of 18

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Total: 3.5 points out of 18

1.5 point for a reduction in financing for Arctic oil & gas companies: Nordea commits to reduce financing for or credit exposure to companies with Arctic oil and gas operations. Definition of Arctic too narrow to score a weak phase-out. Policy covers only offshore, not onshore drilling.

2 points for a weak exclusion threshold for Arctic oil & gas companies: Nordea applies a 5% revenue threshold which would earn strong exclusion, but  uses a very narrow definition of the Arctic and only covers offshore not onshore drilling.

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 1 point out of 18

1 point for a weak exclusion of Arctic oil and gas projects: Rabobank prohibits financing of offshore oil and gas exploration and production in the Arctic region, this does not include onshore exploration and production.

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Total: 1.5 point out of 18

1 point for a weak exclusion of Arctic oil and gas projects: RBC will not provide direct financing for any project or transaction that involves exploration or development in the Arctic National Wildlife Refuge (ANWR). RBC does not mention infrastructure in this policy, and does not rule out financing projects in the rest of the Arctic region. 

0.5 point for enhanced due diligence regarding Arctic oil and gas companies: RBC conducts enhanced due diligence for Arctic-related transactions.

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Total: 7 points out of 18

3 points for a strong exclusion of Arctic oil and gas projects: Santander prohibits financing for all Arctic oil and gas production and infrastructure projects, onshore and offshore.

4 points for a moderate exclusion threshold for Arctic oil and gas companies: Santander prohibits financing for exploration and production companies where Arctic oil & gas represents more than 30% of their activity.

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Total: 0 points out of 18

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Total: 2 points out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: Scotiabank excludes "direct financing or project-specific financial and advisory services for activities that are directly related to the exploration, development or production of oil and gas within the Arctic Circle, including the Arctic National Wildlife Refuge". The policy does not mention infrastructure.

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 7 points out of 18

3 points for a strong exclusion of Arctic oil and gas projects: SEB will not provide finance for exploration or production of Arctic oil and gas.

4 points for a moderate exclusion threshold for Arctic oil and gas companies: SEB will not provide financial services to companies with a revenue share of more than 5% originating from oil and gas related activities in environmentally sensitive areas, including the Arctic. A threshold of 15% is applied for companies that explore and produce Arctic oil and/or gas on the Norwegian Continental Shelf (NCS).

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Total: 4 points out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: Société Générale prohibits financing for all Arctic oil exploration and production projects, as well as for "infrastructures exclusively dedicated to the transport or storage of [...] Arctic oil." This policy does not cover Arctic gas.

2 points for a weak exclusion threshold for Arctic oil and gas companies: Société Générale prohibits financing for companies that get a majority of their revenue from Arctic oil or have a majority of their reserves in the Arctic region.

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Total: 0 points out of 18

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Total: 3 points out of 18

3 points for a strong exclusion of Arctic oil and gas projects: Standard Chartered's prohibition on direct financing for "new or existing Arctic exploration and/or production activities" also covers Arctic-related infrastructure.

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Total: 0 points out of 18

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding Arctic oil and gas companies: SMBC conducts enhanced due diligence when considering lending for mining projects in the Arctic Circle.

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Total: 0 points out of 18

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding Arctic oil and gas companies: Svenska Handelsbanken conducts enhanced due diligence when it comes to companies that are involved in the extraction of unconventional fossil fuels or particularly high-risk extraction, including the Arctic.

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Total: 1 point out of 18

1 point for a weak exclusion of Arctic oil and gas projects: Swedbank will not directly finance unconventional fossil fuel production such as Arctic oil and gas.

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Total: 0 points out of 18

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Total: 2 points out of 18

2 points for a moderate exclusion of Arctic oil and gas projects: TD will not provide new project-specific financial services for exploration, development, or production of oil and gas within the Arctic Circle. It does not mention infrastructure.

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Total: 0 points out of 18

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Total: 3 points out of 18

1 point for a weak exclusion of Arctic oil and gas projects: UBS prohibits financing for "new offshore oil projects in the Arctic."

2 points for a weak exclusion threshold for Arctic oil and gas companies: UBS prohibits financing for companies with ">20% of reserves or production" in Arctic oil, unless they have ''a transition plan that aligns with the goals of the Paris Agreement'' or if the transaction relates to ''renewable energy or clean technology''.

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Total: 4 points out of 18

2 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.

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.

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Total: 0 points out of 18

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Total: 2.5 points out of 18

2 points for a moderate exclusion of Arctic oil and gas companies: U.S. Bank does not provide project financing of long-term infrastructure or industrial projects, which would include Arctic oil and gas extraction and infrastructure. This prohibition does not appear to cover all forms of direct financing for these projects, and so is assessed as "moderate."

0.5 points for enhanced due diligence regarding Arctic oil and gas companies: U.S. Bank conducts enhanced due diligence for Arctic oil-related transactions.

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Total: 1.5 points out of 18

1 point for a weak exclusion of Arctic oil and gas projects: Wells Fargo prohibits "Equator Principles in-scope transactions in the Alaskan Arctic region" only.

0.5 point for enhanced due diligence regarding Arctic oil and gas companies: Wells Fargo conducts enhanced due diligence "for clients that have operations in Alaska/Arctic."

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Total: 1 point out of 18

1 point for a weak exclusion of Arctic oil and gas projects: Westpac does not provide project finance for oil and gas exploration in high risk frontier basins such as Arctic and Antarctic refuges. Only exploration mentioned in this policy.

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ABN AMRO prohibits direct finance for Arctic oil and gas exploration, production, and supporting services.

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Bank of America prohibits direct financing of petroleum exploration or production activities in the Arctic, including both oil and gas development. The prohibition does not cover Arctic oil and gas-related infrastructure.

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BMO intends to exclude direct finance for exploration and development projects in the Arctic National Wildlife Refuge (ANWR). It does not mention infrastructure, the policy is restricted to the ANWR and the bank only expressed its "intention" to exclude project finance.

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