Total: 12 points out of 32

4 points for a moderate exclusion of coal power projects: ABN AMRO prohibits direct finance for new coal-fired power plants.

4 points for a weak exclusion of companies expanding coal power (coal power developers): ABN AMRO requires utility clients to commit not to increase coal-fired electricity generation capacity. But the policy applies only to utilities, and many companies building new coal-fired power are not traditional utilities.

1 point for the commitment to proportionally reduce exposure to coal power companies: ABN AMRO has committed to reduce the share of coal in the mix of electricity generation capacity of its lending portfolio of companies and projects in the power generation sector, but has no explicit commitment to phase out financing for coal power companies.

3 points for a weak exclusion threshold for coal power companies: ABN AMRO prohibits financing for companies with greater than 50% power generation capacity from coal, with additional restrictions on companies between 30 and 50%.

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Total: 0 points out of 32

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Total: 10.5 points out of 32

6 points for a strong exclusion of coal power projects: ANZ will not directly finance any new coal-fired power plants, or expansions.

1.5 points for the commitment to reduce exposure to coal power companies: ANZ will limit finance to existing customers who have more than 50% thermal coal exposure if they do not have a diversification strategy by 2025, and the bank will reduce their exposure over time. By 2030, the exposure threshold for companies will be reduced to 25%. 

3 points for a weak exclusion threshold for coal power companies: ANZ prohibits lending to new coal power clients with material thermal coal exposures, meaning more than 10%.

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Total: 6.5 points out of 32

6 points for a strong exclusion of coal power projects: Bank of America prohibits direct financing of the construction or expansion of new coal-fired power plants, unless technology is meployed that is focused on complete or near elimination of atmospheric carbon emissions.

0.5 point for enhanced due diligence regarding coal power companies: Bank of America conducts enhanced due diligence for coal power plants in developing countries.

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Total: 0 points out of 32

See: Policy scores Excel sheet

Total: 0 points out of 32

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Total: 5 points out of 32

2 points for a weak exclusion of coal power projects: Bank of Montreal prohibits lending for new greenfield coal-fired power plants or significant expansions, with potential exceptions for plants using CCS.

3 points for a weak exclusion of coal power companies: Bank of Montreal's prohibition on financing clients that get >60% of their output from coal power applies to new clients only.

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Total: 12 points out of 32

6 points for a strong exclusion of coal power projects: Barclays prohibits financing for coal-fired power plants around the world.

3 points for the commitment to reduce finance for regarding coal power companies: From 2020 onwards, Barclays will not provide any financing to clients that generate more than 50% of revenue from thermal coal activities (mining and/or coal fired power generation); By 2025, Barclays will no longer provide any financing to clients that generate more than 30% of revenue from thermal coal activities; By 2030, Barclays will no longer provide any financing to clients that generate more than 10% of revenue from thermal coal activities.

3 points for a weak exclusion threshold regarding coal power companies: Barclays will not provide any financing to clients that generate more than 50% of revenue from thermal coal activities (mining and/or coal fired power generation).

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Total: 17 points out of 32

4 points for a moderate exclusion of coal power projects: BBVA prohibits direct financing for new coal plants and coal plant expansions, but allows exceptions for countries with high levels of imported energy.

8 points for a strong phase-out commitment regarding coal power companies: BBVA targets zero exposure to coal clients by 2030 in the developed countries and by 2040 globally.

5 points for a moderate exclusion threshold for coal power companies: BBVA prohibits financing companies with more than 25% of their power generation capacity from coal, but allows exceptions for companies with a diversification strategy.

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Total: 25 points out of 32

6 points for a strong exclusion of coal power projects: BNP Paribas prohibits financing for coal-fired power plant projects, regardless of location.

8 points for a strong exclusion of companies expanding coal power (coal power developers): BNP Paribas will not provide financial products and services to power generation companies that add operational coal-fired power generation to its power portfolio.

8 points for a strong phase-out commitment regarding coal power companies: BNP Paribas does not provide any financial products or services to coal power companies that do not have a strategy to exit from thermal coal activities by 2030 for European Union and OECD countries and 2040 for the rest of the world. 

3 points for a weak exclusion threshold for coal power companies: BNP Paribas will not provide financial products and services to power generation companies that do not have ''a strategy to reduce coal power generation in its mix under a regularly monitored plan including a timeline, which will result in no longer owning or operating coal fired power generation capacities by 2030 in the European Union and OECD countries, and by 2040 in the rest of the world''.

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Total: 0 points out of 32

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Total: 0.5 point out of 32

0.5 point for enhanced due diligence regarding coal power companies: China CITIC Bank conducts enhanced due diligence for thermal power generation.

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Total: 0 points out of 32

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Total: 0 points out of 32

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Total: 0 points out of 32

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Total: 0.5 point out of 32

0.5 point for enhanced due diligence regarding coal power companies: China Minsheng Bank has "differentiated credit policies" for coal.

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Total: 19 points out of 32

6 points for a strong exclusion of coal power projects: Citi prohibits project-related financial services for new coal-fired power plants or expansion of exisiting plants.

4 points for a weak exclusion of companies expanding coal power (coal power developers): Starting in 2022, Citi will "not onboard any new clients with ≥20% of power generation from coal-fired power plants" unless the clients are pursuing a low-carbon transition in alignment "with Paris Agreement decarbonization pathways by 2030 (for clients with power generation in OECD countries) and by 2040 (for clients with power generation in non-OECD countries)."

6 points for a moderate phase-out commitment regarding coal power companies: Beginning in 2022, Citi will "not onboard any new clients with  ≥20% of power generation from coal-fired power plants unless such client meets the above criteria; i.e., is pursuing a low-carbon transition strategy," and will prohibit financing for new clients developing coal plants. Starting in 2026, Citi will lower the threshold for new clients to 5%, and will require all clients to have a "low-carbon strategy to diversify away from coal-fired power generation and align with Paris Agreement decarbonization pathways." By 2031, Citi will no longer finance clients generating more than 5% of their power from coal in OECD countries, and elsewhere clients must demonstrate plans to reduce the coal generation share to 5% by 2040.

3 points for a weak exclusion threshold regarding coal power companies: beginning in 2022, Citi will not finance "new clients with ≥20% of power generation from coal-fired power plants unless such client meets the above criteria; i.e., is pursuing a low-carbon transition strategy."

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Total: 7 points out of 32

4 points for a moderate exclusion of coal power projects: Commerzbank prohibits direct finance for new coal-fired power plants, with possible exceptions.

3 points for a weak exclusion threshold for coal power companies: Beginning in 2021 Commerzbank will prohibit financing for German companies with more than 30% of power production from coal. For companies based outside Germany, the threshold will be 50%.

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Total: 6 points out of 32

6 points for a moderate phase-out commitment regarding coal power companies: Commonwealth Bank commits to reduce its exposure to coal power, with the view to exiting the sector by 2030.

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Total: 27 points out of 32

6 points for a strong exclusion of coal power projects: Crédit Agricole prohibits financing for new coal plants and existing coal plants.

8 points for a strong exclusion of companies expanding coal power (coal power developers): Crédit Agricole prohibits financing to coal plant developers starting in 2021.

8 points for a strong phase-out commitment regarding coal power 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.

5 points for a moderate exclusion threshold for coal power companies: Crédit Agricole prohibits financing to coal power companies with more than 25% of revenue from coal if they don't have a coal phase-out plan by 2021.

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Total: 30 points out of 32

6 points for a strong exclusion of coal power projects: Crédit Mutuel prohibits financing for greenfield or brownfield coal-fired power plants.

8 points for a strong exclusion of companies expanding coal power (coal power developers): Crédit Mutuel prohibits financing for all coal plant developers.

8 points for a strong phase-out commitment regarding coal power 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.

8 points for a strong exclusion threshold for coal power companies: Crédit Mutuel prohibits financing of companies with more than 20% of energy production coming from coal, and companies with more than 5GW of coal capacity.

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Total: 7 points out of 32

4 points for a moderate exclusion of coal power projects: Credit Suisse prohibits direct finance for new coal-fired power plants.

3 points for a weak exclusion threshold regarding coal power companies: Credit Suisse will not provide finance or underwriting to coal power companies that derive more than 25% of its revenue from coal power generation. However, the bank makes an exception for companies that can demonstrate a decreasing share of coal in its power generation portfolio or that has a credible transition strategy to a lower carbon business model and where the transaction proceeds make a material contribution to this transition.

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Total: 27 points out of 32

6 points for a strong exclusion of coal power projects: Danske Bank does not provide financing for projects expanding thermal coal power.

8 points for a strong exclusion of companies expanding coal power (coal power developers): Danske Bank refrains from providing financial services to companies expanding thermal coal power.

8 points for a strong phase-out commitment regarding coal power companies: Danske Bank will phase out companies with coal power production in the EU and OECD countries by 2030 and in the rest of the world by 2040.

5 points for a moderate exclusion threshold for coal power companies: Danske Bank does not provide financial services to companies that generate more than 5% of their revenues from thermal coal power, but may make exceptions for companies that "can demonstrate their commitment, and ability, to phase-out the use and production of fossil fuels in alignment with the 2015 Paris Agreement."

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Total: 4.5 points out of 32

4 points for a moderate exclusion of coal power projects: DBS prohibits financing for new coal-fired power plants.

0.5 point for enhanced due diligence regarding coal power companies: DBS performs enhanced due diligence on coal power companies by checking for a diversification strategy.

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Total: 12 points out of 32

6 points for a strong exclusion of coal power projects: Deutsche Bank prohibits financing for new coal-fired power plants and the expansion of existing plants, regardless of location.

3 points for the commitment to reduce finance to coal power companies: Deutsche Bank will review all its coal power clients in Europe and US until year-end 2020 and gradually phase out existing exposure if there are no diversification plans in place. Starting in 2022, the bank will extend this review and phase out Asia and selected developing markets. This commitment only applies to clients depending more than 50% on coal.

3 points for a weak exclusion threshold regarding coal power companies: For all clients depending more than 50% on coal power – be it energy capacity or energy output – Deutsche Bank will subject the provision of financial services to the availability of credible diversification plans.

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Total: 6.5 points out of 32

6 points for a strong exclusion of coal power projects: DNB does not finance coal-fired power plants.

0.5 point for the for enhanced due diligence regarding coal power companies: DNB conducts enhanced due diligence for new customers "where more than 30% of total corporate revenues stems from coal-fired power."

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Total: 6 points out of 32

6 points for a strong exclusion of coal power projects: DZ Bank prohibits financing for coal-fired power plants.

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Total: 6.5 points out of 32

6 points for a strong exclusion of coal power projects: Goldman Sachs's prohibition on financing for "new coal fired power generation" covers both new plants and expansions of existing plants.

0.5 point for enhanced due diligence regarding coal power companies: Goldman Sachs conducts enhanced due diligence "for financings involving any power sector companies that derive a significant portion of their generation from coal."

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Total: 6.5 points out of 32

6 points for a strong exclusion of coal power projects: HSBC will not finance any new coal-fired power plants anywhere globally, including expansions of existing projects.

0.5 point for enhanced due diligence regarding coal power companies: HSBC has enhanced due diligence for coal power.

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Total: 0 points out of 32

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Total: 0.5 point out of 32

0.5 point for enhanced due diligence regarding coal power companies: Industrial Bank conducts enhanced due diligence for coal-related transactions.

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Total: 13 points out of 32

4 points for a moderate exclusion of coal power projects: ING prohibits financing for new coal plants.

6 points for a moderate phase-out commitment regarding coal power companies: ING has committed to phase out its financing for coal mining by 2025, but it does not exclude any coal developers.

3 points for a weak exclusion threshold for coal power companies: ING prohibits financing for "new clients whose gross revenue is > 10% reliant on operating coal-fired power plants," and "new clients whose reliance on coal is ≤ 10% should have a strategy to reduce this percentage to ≤ 5% by 2025." But this low threshold only applies to new clients; for existing clients, a 30% threshold is used, with the potential for exceptions.

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Total: 7 points out of 32

4 points for a moderate exclusion of coal power projects: Intesa Sanpaolo will not provide finance for new coal fired power plants. Expansion is not mentioned in this policy. Intesa Sanpaolo will restrict project finance for the acquisition of coal fired power plants already in operation if this results in a coal related installed capacity of more than 30% on the total installed capacity for companies based in OECD countries and 50% for companies based in non-OECD countries.

3 points for a weak exclusion threshold for coal power companies: Intesa Sanpaolo will not provide any new general purpose finance to companies ''with more than 50% or 30% of installed capacity for the production of energy from coal - respectively for companies based in non-OECD and OECD countries - unless the company demonstrates a documented medium/long-term plan/strategy for the progressive reduction of the use of coal and its threshold and/or requests financing directly related to the coal transition objectives, for example in the form of a “green loan”, “sustainable loan” or “transition loan”''

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Total: 4.5 points out of 32

4 points for a moderate exclusion of coal power projects: JPMorgan Chase prohibits direct financing for the new coal power plants or refinancing of existing coal plants, with potential exceptions for plants that use CCS.

0.5 point for enhanced due diligence regarding coal power companies: JPMorgan Chase conducts enhanced due diligence for "non-prohibited transactions involving coal-fired power generation."

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Total: 0 points out of 32

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Total: 9 points out of 32

6 points for a strong exclusion of coal power projects: Lloyds Banking Group does not finance new or existing UK coal-fired power stations by the end of 2022. The banks also does not support project finance in coal power operations of diversified utility companies elsewhere, unless the finance is "used to decommission the coal power generation or convert to renewable power generation".

3 points for a weak exclusion threshold for coal power companies: Lloyds Banking Group does not provide finance to new customers that generate revenue from operating coal-fired power stations in the UK, "unless the general purpose banking is being used to decommission the coal power generation or convert to renewable power generation"

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Total: 3.5 points out of 32

2 points for a weak exclusion of coal power projects: MUFG prohibits financing for new coal-fired power projects, with significant room for exceptions concerning host country policies, international standards and available technology.

1 point for the commitment to proportionally reduce exposure to coal power companies: MUFG anticipates reducing the balance of its exposure to coal power projects in the medium- and long-term.

0.5 point for enhanced due diligence regarding coal power companies: MUFG conducts enhanced due diligence for coal power companies.

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Total: 3.5 points out of 32

2 points for a weak exclusion of coal power projects: Mizuho will not finance new coal power plants, except projects already committed to before June 2020; or replacements leading to CO2 reduction where it is also deemed necessary for stable energy supply in the host country.

1 point for the commitment to proportionally reduce financing for coal power companies: Mizuho will halve its outstanding credit balance for coal-fired power projects by 2030, and zero it out by 2050.

0.5 point for enhanced due diligence regarding coal power companies: Mizuho conducts enhanced due diligence on coal power companies.

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Total: 7.5 points out of 32

6 points for a strong exclusion of coal power projects: Morgan Stanley will decline financing transactions globally that directly support the development of new or physical expansions of coal-fired power generation, unless there is carbon capture and storage or equivalent carbon emissions reduction technology.

1 point for the commitment to proportionally reduce exposure to coal power companies: Morgan Stanley says it is "seeking to reduce the proportion of our energy financing to coal mining and coal fired power generation."

0.5 point for enhanced due diligence regarding coal power companies: Morgan Stanley conducts enhanced due diligence on transactions involving coal-fired power generation.

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Total: 2.5 points out of 32

2 points for a weak exclusion of coal power projects: NAB prohibits direct financing for new or expansions of coal plants, "unless there is technology in place to materially reduce emissions." This large exception could permit financing of some ultra-supercritical coal plants and so is assessed as "weak exclusion."

0.5 point for enhanced due diligence regarding coal power companies: NAB conducts enhanced due diligence for coal power clients.

See: Policy scores Excel sheet

Total: 30 points out of 32

6 points for a strong exclusion of coal power projects: BPCE/Natixis prohibits financing for greenfield or brownfield coal-fired power plants, and restricts financing for the acquisition of coal-fired power plants.

8 points for a strong exclusion of companies expanding coal power (coal power developers): BPCE/Natixis will no longer support companies that develop new capacity in coal-powered electricity generation or thermal coal mining.

8 points for a strong phase-out commitment regarding coal power companies: BPCE/Natixis commits to fully withdraw from the thermal coal sector by 2030 for EU and OECD countries, and 2040 for the rest of the world. Companies must have provided or have ensured to provide by the end of 2021 a transition plan to fully withdrawal from thermal coal by 2030/2040.

8 points for a strong exclusion threshold for coal power companies: BPCE/Natixis prohibits financing for companies whose activity is greater than 25% coal power (measured in revenues).

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Total: 15 points out of 32

4 points for a moderate exclusion of coal power projects: NatWest does not finance new coal power plants.

6 points for a moderate phase-out commitment of coal power companies: NatWest committed to stop lending and underwriting to companies with more than 15% of activities related to coal, unless they have a credible transition plan in line with 2015 Paris Agreement by end of 2021. NatWest will fully phase-out from coal by 2030. This phase-out commitment is assessed as moderate due to lack of details on what a credible transition plan is.

5 points for a moderate exclusion threshold for coal power companies: NatWest committed to stop lending and underwriting to companies with more than 15% of activities related to coal, unless they have a credible transition plan in line with 2015 Paris Agreement by end of 2021. This commitment could be strengthened with further clarification on what Paris Alignment means.

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Total: 3 points out of 32

3 points for a weak exclusion of coal power companies: Nordea does not start new banking relationships with companies that are predomninantly dependent on thermal coal, including coal-fired energy production.

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Total: 0 points out of 32

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Total: 6 points out of 32

6 points for a strong exclusion of coal power projects: OCBC prohibits new financing for all coal plants.

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Total: 0 points out of 32

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Total: 6 points out of 32

6 points for a strong exclusion of coal power projects: PNC "prohibit[s] construction financing of all single-site coal-fired power plants."

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Total: 0.5 point out of 32

0.5 point for enhanced due diligence regarding coal power companies: Postal Savings Bank of China conducts enhanced due diligence for coal-related transactions.

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Total: 10.5 points out of 32

6 points for a strong exclusion of coal power projects: Rabobank prohibits financing for new coal plants and existing coal plants.

4 points for a weak phase-out commitment regarding coal power companies: Rabobank expects its coal power clients to present an ambitious timebound plan to work towards maximum relative revenue in thermal coal trading or utilization of 5% from 2020 onwards. Should the companies fail to present such a plan or demonstrate a transition in a measurable way, then refinancing or additional credit would not be possible. There is no fixed deadline.

0.5 point for enhanced due diligence regarding coal power companies: Rabobank conducts enhanced due diligence for clients for whom coal for energy generation contributes to their revenue.

See: Policy scores Excel sheet