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Home › Campaigns › Banks, climate and energy › Banks and coal
Banks and coal infrastructure
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By: BankTrack

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Coal vessel. Photo: Pim GMX, via Flickr

Go directly to: coal infrastructure policy table and coal infrastructure exclusion table

Banks and coal infrastructure

Coal has the highest climate and environmental impact of all conventional fossil fuels. Unlike oil and gas, coal is a solid that cannot flow through a pipeline and thus needs a vast amount of infrastructure to extract and transport coal to power plants. The dirtiest type of coal, lignite, has a low energy density and is therefore not economically viable to transport over long distances. This is why lignite is often burned close to the lignite mine, as is the case for the massive lignite mines in, for example, Germany and Poland. Regular coal, however, has a more global character and is shipped to wherever demand is highest. Often, ports need to be constructed or expanded to load coal onto ships or to supply nearby coal power plants with vast quantities of coal. Examples of this include the construction of the Adani Abbot Point Terminal, which is built to ship Adani’s coal, and the Payra Port coal terminal, which will supply the nearby coal power plants. Coal is also often transported via rail lines from coal mines or ports to coal power plants. Major coal infrastructure projects like these are essential in supplying coal to power plants around the globe. Coal infrastructure is therefore an integral part of the coal sector, just like coal mining and coal power.

Banks and coal infrastructure

The severity of the climate crisis requires that banks must urgently take steps to disengage from financing business activities and projects that continue the world's reliance on fossil fuels. Banks must therefore end support for all new coal infrastructure projects and implement a full phase-out for financing coal infrastructure projects, in line with the Paris Climate Agreement.

Bank policies on coal infrastructure are often a part of policies on coal mining and/or coal power. At this point, French banks Société Générale, Crédit Mutuel, Crédit Agricole and the Italian bank UniCredit are the only banks that have made strong commitments regarding coal infrastructure. 

Bank policy scores on coal infrastructure

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
ABN AMRO
2020-03-01
NLD
0
0
0
Netherlands
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 16

See: Banking on Climate Change - policy scores

Agricultural Bank of China
2020-03-01
CHN
0
0
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

ANZ
2020-10-29
AUS
2
2
0
Australia
Profile
Laggard
2
Follower
Front runner
Leader
1603926000
Last update: 2020-10-29
Explanation

Total: 2 points out of 20

2 points for a weak exclusion threshold regarding coal infrastructure companies: ANZ prohibits lending to new clients whose thermal coal assets exceed 10% of revenue, including transport and ports.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-11-06 00:00:00

ANZ ESG Supplement

2020-11-06 00:00:00
csr policies
2019-11-30 00:00:00

Energy policy

2019-11-30 00:00:00
References
2020-11-5

ANZ 2020 policy update analysis

2020-11-5
Market Forces
2020-10-29

ANZ’s new carbon initiatives

2020-10-29
ANZ
Bank of America
2020-03-01
USA
0
0
0
United States
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Bank of China
2020-03-01
CHN
0
0
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Bank of Montreal (BMO Financial Group)
2020-03-01
CAN
0
0
0
Canada
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Barclays
2020-03-01
GBR
0
0
0
United Kingdom
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

BBVA
2020-03-01
ESP
0
0
0
Spain
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

BNP Paribas
2020-07-22
FRA
5
5
0
France
Profile
Laggard
5
Follower
Front runner
Leader
1595368800
Last update: 2020-07-22
Explanation

Total: 5 points out of 20

3 points for a strong exclusion of coal infrastructure projects: BNP will not provide any financial product or services to infrastructures projects that are dedicated to thermal coal such as harbors or terminals of existing harbors, transportation of thermal coal by rail or road, storage of coal (warehouses).

2 points for a weak exclusion threshold for coal infrastructure companies: BNP Paribas will not provide any financial products or services to infrastructure companies that are significantly involved in thermal coal including: harbors or terminals of existing harbors, Transportation of thermal coal by rail or road, Storage of coal (warehouses). + BNP Paribas will not provide any financial products or services to traders dedicated to thermal coal.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-07-22 00:00:00

Coal mining - sector policy

2020-07-22 00:00:00
China Construction Bank
2020-03-01
CHN
0
0
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

CIBC
2020-03-01
CAN
0
0
0
Canada
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Citigroup
2020-03-01
USA
0
0
0
United States
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Commerzbank AG
2020-03-01
DEU
0.5
0.5
0
Germany
Profile
Laggard
0.5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0.5 point out of 20

0.5 points for enhanced due diligence regarding coal infrastructure companies: Commerzbank has enhanced due diligence for other coal companies.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-02-29 00:00:00

Policy framework for handling environmental and social risks in its core business

2020-02-29 00:00:00
Commonwealth Bank of Australia
2020-03-01
AUS
0
0
0
Australia
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Crédit Agricole
2020-03-01
FRA
13
13
0
France
Profile
Laggard
Follower
Front runner
Leader
13
1583017200
Last update: 2020-03-01
Explanation

Total: 13 points out of 20

1 points for a weak exclusion of coal infrastructure projects: Crédit Agricole excludes any financial support for infrastructure projects dedicated to thermal coal.

4 points for a strong exclusion of companies expanding coal infrastructure: Crédit Agricole prohibits financing to coal infrastructure developers starting in 2021.

4 points for a strong phase-out commitment regarding coal infrastructure companies: Crédit Agricole has committed to a full-fledged coal phase-out by 2030 for EU and OECD countries and 2040 for China. It requires from its clients a coal phase-out plan aligned with theses dates to continue to receive financial support from the bank starting in 2021.

4 points for a strong exclusion threshold for coal infrastructure companies: Crédit Agricole prohibits financing to coal transport infrastructure companies where more than 25% of their revenue is from coal if they don't have a coal phase-out plan by 2021.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-06-06 00:00:00

Climate strategy

Document in English
2019-06-06 00:00:00
Credit Mutuel-CIC
2020-03-01
FRA
15
15
0
France
Profile
Laggard
Follower
Front runner
Leader
15
1583017200
Last update: 2020-03-01
Explanation

Total: 15 points out of 20

3 points for a strong exclusion of coal infrastructure projects: Crédit Mutuel prohibits financing for greenfield or brownfield coal infrastructure projects.

4 points for a strong exclusion of companies expanding coal infrastructure: Crédit Mutuel prohibits financing for all coal infrastructure developers.

4 points for a strong phase-out commitment regarding coal infrastructure companies: Crédit Mutuel committed to a full coal phase-out by 2030. It requires its clients to have by 2021 a coal phase-out plan to close their coal assets by 2030 in order to continue to receive financial support from the bank.

4 points for a strong exclusion threshold for coal infrastructure companies: Crédit Mutuel prohibits financing of companies with more than 20% of revenues coming from coal.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-02-20 00:00:00

Climate strategy

2020-02-20 00:00:00
Credit Suisse Group
2020-08-01
CHE
2
2
0
Switzerland
Profile
Laggard
2
Follower
Front runner
Leader
1596232800
Last update: 2020-08-01
Explanation

Total: 2 points out of 20

2 points for a weak exclusion threshold regarding coal infrastructure companies: Credit Suisse prohibits lending or underwriting services to companies that derive more than 25% of its revenue from coal power, including associated infrastructure, but they make exceptions for companies that demonstrate a decreasing share of coal in its power generation portfolio or has a credible transition strategy to a lower carbon business model.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-08-01 00:00:00

Sector Policies and Guidelines

2020-08-01 00:00:00
DBS Bank
2020-03-01
SGP
0
0
0
Singapore
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Deutsche Bank
2020-03-01
DEU
1
1
0
Germany
Profile
Laggard
1
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 1 point out of 20

1 point for a weak exclusion of coal infrastructure projects: Deutsche Bank prohibits financing for new greenfield coal-related infrastructure related to new or existing mines or plants.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-07-27 00:00:00

Environmental and Social Policy Framework July 2020

2020-07-27 00:00:00
Goldman Sachs
2020-03-01
USA
0
0
0
United States
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

HSBC
2020-03-01
GBR
0
0
0
United Kingdom
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
0
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

ING Group
2020-03-01
NLD
2
2
0
Netherlands
Profile
Laggard
2
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 2 points out of 20

2 points for a weak phase-out commitment regarding coal infrastructure companies: ING's commitment to phase out coal financing by 2025 includes "dedicated-use infrastructure such as terminals for exclusive thermal coal use."

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-12-19 00:00:00

Stance on energy

Date listed represents date as accessed on website
2019-12-19 00:00:00
Intesa Sanpaolo
2020-03-01
ITA
0
0
0
Italy
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

JPMorgan Chase
2020-03-01
USA
0
0
0
United States
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Mitsubishi UFJ Financial Group (MUFG)
2020-03-01
JPN
0
0
0
Japan
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Mizuho
2020-03-01
JPN
0
0
0
Japan
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Morgan Stanley
2020-03-01
USA
0
0
0
United States
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

National Australia Bank
2020-03-01
AUS
0
0
0
Australia
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Natixis
2020-03-01
FRA
1
1
0
France
Profile
Laggard
1
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 1 point out of 20

1 point for a weak exclusion of coal infrastructure projects: BPCE/Natixis prohibits financing for greenfield or brownfield infrastructure projects such as railway tracks, rail cars, and port facilities when these are primarily dedicated to thermal coal.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-06-28 00:00:00

Sector policy applicable to the coal sector

2019-06-28 00:00:00
NatWest Group (formerly RBS)
2020-03-01
GBR
0
0
0
United Kingdom
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

OCBC
2020-03-01
SGP
0
0
0
Singapore
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

PNC Bank
2020-03-01
USA
0
0
0
United States
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Royal Bank of Canada
2020-03-01
CAN
0
0
0
Canada
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Santander
2020-03-01
ESP
0
0
0
Spain
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Scotiabank
2020-03-01
CAN
0
0
0
Canada
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Société Générale
2020-07-31
FRA
15
15
0
France
Profile
Laggard
Follower
Front runner
Leader
15
1596146400
Last update: 2020-07-31
Explanation

Total: 15 points out of 20

3 points for a strong exclusion of coal infrastructure projects: Société Générale prohibits financing for all other thermal coal power projects, including transport and infrastructure associated with coal mining and coal power.

4 points for a strong exclusion of companies expanding coal infrastructure: Société Générale will not finance companies of the thermal coal sector developing or planning to develop new transportation projects dedicated to thermal coal. For this policy commitment, the majority owners of the asset are considered.

4 points for a strong phase-out commitment regarding coal infrastructure companies: Société Générale has committed to zero out its exposure to the thermal coal sector by "2030 for companies with mining or power production thermal coal assets located in the EU or OECD countries and 2040 companies holding such assets elsewhere."

4 points for a strong exclusion threshold for coal infrastructure companies: Société Générale does offer products or services to companies generating over 25% of their revenues in the thermal coal sector and which do not have a credible exit strategy from the coal sector.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-07-31 00:00:00

Thermal coal sector policy

2020-07-31 00:00:00
References
2020-7-31

Société Générale releases a misleading coal phase out policy

2020-7-31
Reclaim Finance
2020-7-1

An accelerated exit from the coal sector

2020-7-1
Société Générale
Standard Chartered
2020-03-01
GBR
0
0
0
United Kingdom
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Sumitomo Mitsui Banking Corporation (SMBC)
2020-03-01
JPN
0
0
0
Japan
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

TD bank Financial Group
2020-03-01
CAN
0
0
0
Canada
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

UBS
2020-03-01
CHE
0
0
0
Switzerland
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

UniCredit Group
2020-09-04
ITA
15
15
0
Italy
Profile
Laggard
Follower
Front runner
Leader
15
1599170400
Last update: 2020-09-04
Explanation

Total: 15 point out of 20

3 points for a strong exclusion of coal infrastructure 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 companies expanding coal infrastructure: 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.

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

4 points for a strong exclusion threshold for coal infrastructure 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.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-08-31 00:00:00

Coal sector global policy

2020-08-31 00:00:00
References
2020-9-9

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

2020-9-9
Reclaim Finance
United Overseas Bank
2020-03-01
SGP
0
0
0
Singapore
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

US Bancorp
2020-03-01
USA
0
0
0
United States
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Wells Fargo
2020-03-01
USA
0
0
0
United States
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Westpac Banking Corporation
2020-03-01
AUS
1
1
0
Australia
Profile
Laggard
1
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 1 point out of 20

1 point for a weak exclusion of coal infrastructure projects: Westpac "limit[s] lending to any new thermal coal ... projects (including those of existing customers) to only existing coal producing basins."

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-05-04 00:00:00

Climate Change Position Statement and 2023 Action Plan

2020-05-04 00:00:00
Explanation

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

1) Restriction on direct financing for coal infrastructure projects.

  • None (0), weak exclusion (1), strong exclusion (3)

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

  • None (0), weak exclusion (2), strong exclusion (4)

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

  • None (0), exposure reduction (1), weak phase-out (2), strong phase-out (4)

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

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (4), full exclusion (5)

A bank can obtain a total of 16 policy points for its coal infrastructure policy. Based on this score banks are then classified as laggards (0-4 points), followers (4.5-8 points), front runners (8.5-12 points) or leaders (12.5-16 points)

 

Banks excluding finance for coal infrastructure

A number of banks have already taken steps to fully or partially exclude coal infrastructure or companies involved in coal infrastructure operations from their investments. The table below lists banks that have taken such steps. 

Exclusion table coal infrastructure

BankLast update
Country
Details
Project
Company
ANZ
2020-10-29
AUS
0
-1
Australia
Profile
Project
Company
1603926000
Last update: 2020-10-29
Explanation

ANZ prohibits lending to new clients whose thermal coal assets exceed 10% of revenue, including transport and ports.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-11-06 00:00:00

ANZ ESG Supplement

2020-11-06 00:00:00
csr policies
2019-11-30 00:00:00

Energy policy

2019-11-30 00:00:00
References
2020-11-5

2020-11-5
BNP Paribas
2020-07-22
FRA
0
99
France
Profile
Project
Company
1595368800
Last update: 2020-07-22
Explanation

BNP will not provide any financial product or services to infrastructures projects that are dedicated to thermal coal such as harbors or terminals of existing harbors, transportation of thermal coal by rail or road, storage of coal (warehouses).

BNP Paribas will not provide any financial products or services to infrastructure companies that are significantly involved in thermal coal including: harbors or terminals of existing harbors, Transportation of thermal coal by rail or road, Storage of coal (warehouses). + BNP Paribas will not provide any financial products or services to traders dedicated to thermal coal.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-07-22 00:00:00

Coal mining - sector policy

2020-07-22 00:00:00
Crédit Agricole
2020-03-01
FRA
0
-2
France
Profile
Project
Company
1583017200
Last update: 2020-03-01
Explanation

Crédit Agricole excludes any financial support for infrastructure projects dedicated to thermal coal.

Crédit Agricole prohibits financing to coal infrastructure developers starting in 2021.

Crédit Agricole prohibits financing to coal transport infrastructure companies where more than 25% of their revenue is from coal if they don't have a coal phase-out plan by 2021.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-06-06 00:00:00

Climate strategy

Document in English
2019-06-06 00:00:00
Credit Mutuel-CIC
2020-03-01
FRA
0
99
France
Profile
Project
Company
1583017200
Last update: 2020-03-01
Explanation

Crédit Mutuel prohibits financing for greenfield or brownfield coal infrastructure projects.

Crédit Mutuel prohibits financing for all coal infrastructure developers.

Crédit Mutuel prohibits financing of companies with more than 20% of revenues coming from coal.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-02-20 00:00:00

Climate strategy

2020-02-20 00:00:00
Credit Suisse Group
2020-08-01
CHE
0
-1
Switzerland
Profile
Project
Company
1596232800
Last update: 2020-08-01
Explanation

Credit Suisse prohibits lending or underwriting services to companies that derive more than 25% of its revenue from coal power, including associated infrastructure, but they make exceptions for companies that demonstrate a decreasing share of coal in its power generation portfolio or has a credible transition strategy to a lower carbon business model.

Relevant policies
csr policies
2020-08-01 00:00:00

Sector Policies and Guidelines

2020-08-01 00:00:00
Deutsche Bank
2020-03-01
DEU
0
-1
Germany
Profile
Project
Company
1583017200
Last update: 2020-03-01
Explanation

Deutsche Bank prohibits financing for new greenfield coal-related infrastructure related to new or existing mines or plants.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-07-27 00:00:00

Environmental and Social Policy Framework July 2020

2020-07-27 00:00:00
Natixis
2020-03-01
FRA
0
-1
France
Profile
Project
Company
1583017200
Last update: 2020-03-01
Explanation

BPCE/Natixis prohibits financing for greenfield or brownfield infrastructure projects such as railway tracks, rail cars, and port facilities when these are primarily dedicated to thermal coal.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-06-28 00:00:00

Sector policy applicable to the coal sector

2019-06-28 00:00:00
Société Générale
2020-07-31
FRA
0
99
France
Profile
Project
Company
1596146400
Last update: 2020-07-31
Explanation

Société Générale prohibits financing for all other thermal coal power projects, including transport and infrastructure associated with coal mining and coal power.

Société Générale will not finance companies of the thermal coal sector developing or planning to develop new transportation projects dedicated to thermal coal. For this policy commitment, the majority owners of the asset are considered.

Société Générale does offer products or services to companies generating over 25% of their revenues in the thermal coal sector and which do not have a credible exit strategy from the coal sector.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-07-31 00:00:00

Thermal coal sector policy

2020-07-31 00:00:00
References
2020-7-31

Société Générale releases a misleading coal phase out policy

2020-7-31
Reclaim Finance
2020-7-1

An accelerated exit from the coal sector

2020-7-1
Société Générale
UniCredit Group
2020-09-04
ITA
0
99
Italy
Profile
Project
Company
1599170400
Last update: 2020-09-04
Explanation

UniCredit excludes all types of banking services aimed at coal-related project activities (including infrastructures), regardless of any other consideration.

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).

UniCredit also 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
csr policies
2020-08-31 00:00:00

Coal sector global policy

2020-08-31 00:00:00
References
2020-9-9

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

2020-9-9
Reclaim Finance
Westpac Banking Corporation
2020-03-01
AUS
0
-1
Australia
Profile
Project
Company
1583017200
Last update: 2020-03-01
Explanation

Westpac "limit[s] lending to any new thermal coal ... projects (including those of existing customers) to only existing coal producing basins."

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-05-04 00:00:00

Climate Change Position Statement and 2023 Action Plan

2020-05-04 00:00:00
Explanation

This table lists banks that have adopted a full ( ) or partial ( ) exclusion policy for coal infrastructure projects and/or companies. Click on 'Details' for the rationale of this assessment for each bank.

See the Coal Policy Tool from Reclaim Finance for a more in-depth analysis of coal policies from banks (and other financial institutions).

 

Feedback welcome

Our policy assessments are always a work in progress and we very much welcome any feedback, especially from banks included in them. You can of course also contact us for more information on specific scores and the latest policy changes. Please get in touch at climate@banktrack.org.

News

| |
Type:
Year:
blog
external news
our news

NGOs release the 2020 Global Coal Exit List

935 companies that banks, investors and insurers need to avoid
2020-11-12 | Berlin | urgewald
blog
external news
our news

Société Générale releases a misleading coal phase out policy

(erratum added)
2020-07-31 | Reclaim Finance
blog
external news
our news

Will China continue to bank on coal?

2020-06-01 | Dry Cargo International
blog
external news
our news

Banking on Climate Change – Fossil Fuel Finance Report Card 2019

World's top banks have poured $1.9 trillion into fossil fuel financing since the Paris Agreement was adopted, with financing on the rise each year
2019-03-20 | Nijmegen, the Netherlands | BankTrack, Honor the Earth, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Sierra Club
blog
external news
our news

Every two weeks a bank, insurer or lender announces new coal restrictions

Major financial institutions restricting coal funding tops 100
2019-02-27 | IEEFA
blog
external news
our news

Under Trump Administration, Big Banks Are Investing More Money Into Coal

2018-03-28 | kuer.org
blog
external news
our news

Umweltschützer: Bankensektor entfernt sich vom Kohleausstieg

2018-03-28 | energate messenger
blog
external news
our news

Danske Invest makes huge expansion in exclusion efforts

2018-02-28 | Citywire Selektor
blog
external news
our news

One Planet Summit: A round up of new fossil fuel policy announcements

2017-12-21 | Yann Louvel – BankTrack
blog
external news
our news

Comment: Vietnam’s coal decision is the Paris Agreement in action

2016-01-15 | Unearthed
blog
external news
our news

Banks invest record €66bn in coal sector

2014-10-30 | RTCC - Responding To Climate Change
blog
external news
our news

Rabobank, Storebrand Dump Fossil Fuel Companies

2013-07-08 | Environmental Leader
blog
external news
our news

Norwegian pension fund divests from ‘financially worthless’ fossil fuel firms

2013-07-05 | Blue and Green Tomorrow
blog
external news
our news

Bankrolling Climate Change

NGOs present groundbreaking research on banks’ involvement in coal financing
2011-11-30 | Durban | urgewald, Earthlife, BankTrack and groundWork

Documents

Type:
Year:
other documents
2020-12-22 00:00:00

Coal 2020

Analysis and forecast to 2025
2020-12-22 00:00:00 | International Energy Agency (IEA)
ngo documents
2020-12-18 00:00:00

Pollution of land, surface and groundwater near the slag and ash disposal site of Tuzla thermal power plant

2020-12-18 00:00:00 | CEE Bankwatch Network and Europe Beyond Coal
our publications
2020-03-18 00:00:00

Banking on Climate Change - Fossil Fuel Finance Report 2020

2020-03-18 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club
our publications
2020-03-18 00:00:00

Banking on Climate Change - Fossil Finance Report Card 2020 [Excel sheet]

Excel sheet with detailed bank policy scores
2020-03-18 00:00:00 | BankTrack, Rainforest Action Network, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club
our publications
2019-12-05 00:00:00

The UK's dirty coal secret

$26 billion support from big four banks for international companies planning coal fleet 16 times the size of current UK capacity
2019-12-05 00:00:00 | BankTrack, urgewald, 350.org
our publications
2016-11-14 00:00:00

Still Coughing Up For Coal

Big Banks After the Paris Agreement
2016-11-14 00:00:00 | BankTrack, Rainforest Action Network, Friends of the Earth France, urgewald and Market Forces
our publications
2015-12-02 00:00:00

The Coal Test: Where Banks Stand on Climate at COP 21

2015-12-02 00:00:00 | Rainforest Action Network, BankTrack, Friends of the Earth-France, and urgewald
our publications
2015-06-08 00:00:00

Standard Chartered's involvement in the Carmichael coal mine would be 'non-standard' and 'unchartered', on the bank's own terms

2015-06-08 00:00:00 | BankTrack
our publications
2014-12-16 00:00:00

Coal Market Update December 2014

Spinning off risky coal assets increasing in momentum
2014-12-16 00:00:00 | Greenpeace and BankTrack
our publications
2014-09-23 00:00:00

Coal Market Update September 2014

Uncertain Markets as Corruption Stories Break Around the World
2014-09-23 00:00:00 | Greenpeace and BankTrack
our publications
2014-07-11 00:00:00

Coal Market Update July 2014

Supply glut continues to weigh on prices
2014-07-11 00:00:00 | Greenpeace and BankTrack
our publications
2014-03-03 00:00:00

Coal Market Update March 2014

Another chapter of Beijing air pollution saga; coal protests continue in India and Australia
2014-03-03 00:00:00 | Greenpeace and BankTrack
our publications
2013-11-21 00:00:00

Coal Market Update November 2013

Britain and UN weigh in on coal debate in Warsaw
2013-11-21 00:00:00 | Greenpeace and BankTrack
our publications
2013-11-15 00:00:00

Banking on Coal

2013-11-15 00:00:00 | Published by urgewald, BankTrack, CEE Bankwatch Network and Polska Zielona Sieć
our publications
2013-09-23 00:00:00

Coal Market Update September 2013

Governments and international financial institutions waking up to the dangers of coal investments
2013-09-23 00:00:00 | Greenpeace and BankTrack
our publications
2013-07-23 00:00:00

Coal Market Update July 2013

Low prices take their toll on coal firms
2013-07-23 00:00:00 | Greenpeace and BankTrack
our publications
2013-05-16 00:00:00

Coal Market Update May 2013

Coal market continues to underperform
2013-05-16 00:00:00 | Greenpeace and BankTrack
our publications
2013-04-29 00:00:00

Coal Finance Report Card 2013

Extreme investments - US Banks and the Coal Industry
2013-04-29 00:00:00 | Rainforest Action Network, Sierra Club, BankTrack
ngo documents
2012-08-01 00:00:00

Coal financing - what the KfW prefers to keep under wraps

2012-08-01 00:00:00 | urgewald
our publications
2011-11-30 00:00:00

Bankrolling climate change

A look into the portfolios of the world`s largest banks
2011-11-30 00:00:00 | urgewald/BankTrack/groundwork
ngo documents
2011-11-15 00:00:00

Bank of America: Risking Public Health and the Climate

2011-11-15 00:00:00 | Rainforest Action Network
ngo documents
2007-07-12 00:00:00

The dirty truth about clean coal

2007-07-12 00:00:00 | RAN
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