Total: 0 points out of 89

See: Banking on Climate Change - policy scores

Total: 2 points out of 89

2 points for a weak exclusion of coal power projects: ANZ prohibits direct financing for new coal-fired power plants that emit more than 0.8t CO2/MWh.

See: Banking on Climate Change - policy scores

Total: 2 points out of 89

2 points for a weak exclusion of coal power projects: Bank of America prohibits direct financing for "the construction of new coal-fired power plants in developed countries, unless those facilities employ technology that is focused on complete or near elimination of atmospheric carbon emissions, such as carbon capture technology." In developing countries, Bank of America conducts enhanced due diligence for coal power projects.

See: Banking on Climate Change - policy scores

Total: 0 points out of 89

See: Banking on Climate Change - policy scores

Total: 0 points out of 89

See: Banking on Climate Change - policy scores

Total: 16.5 points out of 89

3 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.

1.5 points for a weak exclusion of fracking projects: Barclays will not finance projects involving fracking in Europe, including the UK.

6 points for a strong exclusion of coal mining projects: Barclays will not provide general corporate financing that is specified as being for new or expanded coal mining or coal-fired power plant development.

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

See: Banking on Climate Change - policy scores

Total: 17 points out of 89

4 points for a strong exclusion of tar sands projects: BBVA prohibits financing for tar sands exploration, production, and transport projects.

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

2 points for a weak exclusion of coal mining projects: BBVA prohibits direct financing for new coal mines and coal mine expansions, including MTR mines, but allows exceptions for countries with high levels of imported energy.

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.

4 points for a weak exclusion of companies expanding coal power (coal power developers): BBVA prohibits financing of clients that are expanding coal-fired power generation capacity, but allows exceptions for countries with high levels of energy imports.

See: Banking on Climate Change - policy scores

Total: 40.5 points out of 89

4 points for a strong exclusion of tar sands projects: BNP Paribas prohibits financing for tar sands exploration, production and pipeline projects.

3 points for a moderate 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 strong exclusion of fracked oil and gas projects: BNP Paribas prohibits financing for fracked oil and gas exploration and production projects, and pipelines.

1.5 points for a weak exclusion of LNG projects: BNP Paribas prohibits financing for LNG terminals that are supplied by fracked gas.

6 points for a strong exclusion of coal mining projects: BNP Paribas prohibits financing for thermal coal mining projects.

8 points for a strong exclusion of companies expanding coal mining (coal mine developers): BNP Paribas does not provide any financial products or services for companies that develop or are planning to develop thermal coal extraction capacities (new mines or expansion of existing ones).

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

4 points for a weak exclusion of companies expanding coal power (coal power developers): BNP Paribas will not accept any NEW client who is planning to add CFPG capacity to its power portfolio.

3 points for a strong exclusion of coal infrastructure projects: BNP Paribas will not provide any financial product or services to infrastructure 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).

See: Banking on Climate Change - policy scores

Total: 0 points out of 89

See: Banking on Climate Change - policy scores

Total: 0 points out of 89

See: Banking on Climate Change - policy scores

Total: 15 points out of 89

3 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.

6 points for a strong exclusion of coal mining projects: Citigroup provides no project-related financing for new thermal coal mines or expansions of existing mines.

6 points for a strong exclusion of coal power projects: Citigroup provides no project-related financing for new coal-fired power plants or expansions of existing plants.

See: Banking on Climate Change - policy scores

Total: 19 points out of 89

4 points for a strong exclusion of tar sands projects: Commerzbank prohibits project finance for tar sands extraction and pipelines.

3 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.

4 points for a strong exclusion of fracked oil and gas projects: Commerzbank rules out project finance for fracked oil and gas.

4 points for a moderate exclusion of coal mining projects: Commerzbank prohibits direct finance for new coal mines and MTR mines.

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

See: Banking on Climate Change - policy scores

Total: 4.5 points out of 89

1.5 points for a weak exclusion of tar sands projects: Commonwealth Bank prohibits project finance for mining, exploration, or development of tar sands oil. There is no prohibition on pipelines or transportation.

3 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.

See: Banking on Climate Change - policy scores

Total: 40 points out of 89

4 points for a strong exclusion of tar sands projects: Crédit Agricole prohibits the direct financing of oil sands projects, as well as pipeline projects mainly dedicated to the transportation of oil produced from oil sands.

3 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.

6 points for a strong exclusion of coal mining projects: Crédit Agricole prohibits any support to thermal coal mines.

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

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 exclusoin of companies expanding coal power (coal power developers): Crédit Agricole prohibits financing to coal plant developers starting in 2021.

1 point 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.

See: Banking on Climate Change - policy scores

Total: 6 points out of 89

2 points for a weak exclusion of coal mining projects: Credit Suisse prohibits direct finance for new greenfield thermal coal mines, and MTR projects.

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

See: Banking on Climate Change - policy scores

Total: 6 points out of 89

2 points for a weak exclusion of coal mining projects: DBS prohibits financing for greenfield thermal coal mines.

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

See: Banking on Climate Change - policy scores

Total: 16.5 points out of 89

3 points for a moderate exclusion of tar sands projects: Deutsche Bank will not finance new projects involving exploration, production, transport/processing of oil sands.

3 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).

1.5 points for a weak exclusion of fracked oil and gas projects: Deutsche Bank will not finance oil and gas projects via hydraulic fracturing in countries with extremely high water stress.

2 points for a weak exclusion of coal mining projects: Deutsche Bank prohibits new financing for greenfield thermal coal mines.

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.

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

Total: 15 points out of 89

3 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.

6 points for a strong exclusion of coal mining projects: Goldman Sachs's prohibition on financing for "new thermal coal mine development" covers both new mines and expansions of existing mines.

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.

See: Banking on Climate Change - policy scores

Total: 14 points out of 89

3 points for a moderate exclusion of tar sands projects: HSBC prohibits direct finance for greenfield tar sands extraction projects and pipelines.

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

4 points for a moderate exclusion of coal mining projects: HSBC prohibits financing for new thermal coal mines.

4 points for a moderate exclusion of coal power projects: HSBC will not finance any new coal-fired power plants anywhere globally.

See: Banking on Climate Change - policy scores

Total: 0 points out of 89

See: Banking on Climate Change - policy scores

Total: 15.5 points out of 89

3 points for a moderate exclusion of tar sands projects: ING prohibits direct financing for "mining, exploration and upgrading of oil sands, including pipeline infrastructure dedicated to the exclusive use of transporting oil from oil sands." The fact that the pipeline finance prohibition applies only to pipelines exclusively transporting tar sands prevents this policy from earning "strong exclusion."

3 points for a moderate exclusion of Arctic oil and gas projects: ING prohibits financing for "Arctic offshore oil and gas exploration and production" projects, but not related infrastructure.

1.5 points for a weak exclusion of fracked oil and gas projects: ING prohibits project financing for "mining, exploration and upgrading of shale gas in Europe."

4 points for a moderate exclusion of coal mining projects: ING prohibits financing for new thermal coal mines.

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

See: Banking on Climate Change - policy scores

Total: 12 points out of 89

4 points for a moderate exclusion of coal mining projects: Intesa Sanpaolo will not provide finance for new coal mines. Expansion not mentioned in this policy. Intesa Sanpaolo also restricts project finance for the acquisition of companies already operating in the mining sector if this leads to mix of extracted raw materials where coal accounts for more than 50%.

4 points for a weak exclusion of companies expanding coal mining: Intesa Sanpaolo will not provide any new general purpose finance to companies engaged in the construction of new coal mines.

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.

See: Banking on Climate Change - policy scores

Total: 10 points out of 89

4 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."

2 points for a weak exclusion of coal mining projects: JPMorgan Chase prohibits financing for new greenfield coal mines only.

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.

See: Banking on Climate Change - policy scores

Total: 2.5 points out of 89

0.5 point for a mountaintop removal mine exclusion: MUFG prohibits financing for MTR coal mining projects.

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.

See: Banking on Climate Change - policy scores

Total: 2.5 points out of 89

0.5 point for a mountaintop removal (MTR) mine exclusion: Mizuho will not provide financing or investment to coal mining projects employing the mountain top removal method.

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.

See: Banking on Climate Change - policy scores

Total: 11 points out of 89

3 points for a moderate exclusion of Arctic oil and gas projects: Morgan Stanley will not directly finance new oil and gas exploration and development, but its policy does not mention infrastructure.

4 points for a moderate exclusion of coal mining projects: Morgan Stanley excludes direct finance for new coal mines. Expansion is not mentioned in this policy. Morgan Stanley will also not provide financing for mountain top removal coal mines.

4 points for a moderate 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.

See: Banking on Climate Change - policy scores

Total: 13 points out of 89

1.5 points for a weak exclusion of tar sands projects: NAB prohibits financing for tar sands extraction projects, but not pipelines or transportation.

1.5 points 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."

4 points for a moderate exclusion of coal mining projects: NAB prohibits financing for new thermal coal mining projects.

6 points for a strong exclusion of coal power projects: NAB prohibits financing for new or expanded coal-fired power plants.

See: Banking on Climate Change - policy scores

Total: 37.5 points out of 89

1.5 points for a weak exclusion of fracking projects: BPCE/Natixis will no longer finance shale oil and gas exploration and production projects worldwide. The policy does not mention infrastructure.

4 points for a strong exclusion of tar sands projects: BPCE/Natixis prohibits dedicated finance for tar sands exploration and production, or for pipeline and other midstream infrastructure supplied with 30% or more tar sands oil.

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

6 points for a strong exclusion of coal mining projects: BPCE/Natixis prohibits financing for greenfield or brownfield thermal coal mines.

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

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.

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.

For the most recent policy updates by Natixis, see the press release below. These updates are not yet integrated in Natixis' previous policy.

See: Banking on Climate Change - policy scores

Total: 15.5 points out of 89

1.5 points for a weak exclusion of tar sands projects: RBS prohibits lending for tar sands exploration and extraction projects, but not transportation.

1.5 points for a weak exclusion of Arctic oil and gas projects: RBS's commitment excludes lending to oil exploration and production projects in the Arctic or Antarctic, but does not cover underwriting such projects, nor does it cover gas in the region.

1.5 points for a weak exclusion of offshore oil and gas projects: RBS prohibits lending to projects involving exploration for new oil and gas reserves, which includes offshore exploration projects.

1.5 points for a weak exclusion of fracked oil and gas projects: RBS prohibits financing for "projects involving hydraulic fracturing (‘fracking’) for oil and gas." This does not merit "strong exclusion" because it is not clear that it covers fracking-related infrastructure, such as fracked oil and gas pipelines.

1.5 points for a weak exclusion of conventional/other oil and gas projects: RBS prohibits lending to projects involving exploration for new oil and gas reserves.

4 points for a moderate exclusion of coal mining projects: RBS prohibits lending for new thermal coal mining projects.

4 points for a moderate exclusion of coal power projects: RBS prohibits lending for "the construction of new unabated coal power stations."

See: Banking on Climate Change - policy scores

Total: 8 points out of 89

2 points for a weak exclusion of coal mining projects: OCBC prohibits "new financing of Lignite Coal Mines" only.

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

See: Banking on Climate Change - policy scores

Total: 0 points out of 89

See: Banking on Climate Change - policy scores

Total: 12 points out of 89

4 points for a strong exclusion of Arctic oil and gas projects: Santander's prohibition on direct financing for the "development, construction or expansion of oil and gas drilling projects north of the Arctic Circle" includes associated infrastructure.

4 points for a moderate exclusion of coal mining projects: Santander prohibits financing for new thermal coal mine projects.

4 points for a moderate exclusion of coal power projects: Santander prohibits financing for new coal plant projects worldwide.

See: Banking on Climate Change - policy scores

Total: 0 points out of 89

See: Banking on Climate Change - policy scores

Total: 41 points out of 89

3 points for a moderate exclusion of tar sands projects: Société Générale prohibits financing for all tar sands exploration and production projects, as well as for "infrastructures exclusively dedicated to the transport or storage of oil from oil sands." Expanding the latter to prohibit financing for infrastructure with any relation to tar sands would move this assessment to "strong exclusion."

3 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.

6 points for a strong exclusion of coal mining projects: Société Générale prohibits financing for all thermal coal mining projects.

8 points for a strong exclusion of companies expanding coal mining (coal mine developers): Société Générale will not finance companies developing, or planning to develop, new thermal coal mines. For this policy commitment, the majority owners of the asset are considered. Société Générale will also refrain from financing 'Corporate Entities' of the thermal coal mining sector (which are defined as corporate entities directly operating or owning thermal coal mining assets) that are developing or planning to develop thermal coal mining capacity.

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

8 points for a strong exclusion of companies expanding coal power (coal power developers): Société Générale will refrain from providing finance to companies of the thermal coal sector developing, or planning to develop, new thermal coal mines, new coal-fuelled power capacities strictly above 300 MW or new transportation projects dedicated to thermal coal. For this policy commitment, the majority owners of the asset are considered.

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 coal 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.

See: Banking on Climate Change - policy scores

Total: 18 points out of 89

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

4 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.

4 points for a moderate exclusion of coal mining projects: Standard Chartered prohibits financing for all new thermal coal mines.

6 points for a strong exclusion of coal power projects: Standard Chartered prohibits financing new coal plants and their expansions worldwide. This prohibition was recently extended to projects that had previously been "grandfathered" in and so were still eligible to receive financing.

See: Banking on Climate Change - policy scores

Total: 2.5 points out of 89

0.5 point for a mountaintop removal (MTR) mine exclusion: SMBC does not provide support for coal mining projects that are conducting the MTR method.

2 points for a weak exclusion of coal power projects: SMBC prohibits financing for coal-fired power plants that are not ultra-supercritical.

See: Banking on Climate Change - policy scores

Total: 0.5 point out of 89

0.5 point for a mountaintop removal (MTR) mine exclusion: TD prohibits financing for transactions related to mountaintop-removal coal mining only.

See: Banking on Climate Change - policy scores

Total: 9 points out of 89

1.5 points for a weak exclusion of tar sands projects: UBS prohibits financing for greenfield oil sands projects.

1.5 points 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 of coal mining projects: UBS prohibits financing for greenfield thermal coal mines.

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

See: Banking on Climate Change - policy scores

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.

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.

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 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.

See: Banking on Climate Change - policy scores

Total: 3.5 points out of 89

3 points for a moderate exclusion of Arctic oil and gas projects: Wells Fargo prohibits direct financing of "oil and gas projects in the Arctic region," without further specificity on what that covers.

0.5 point for a mountaintop removal (MTR) mine exclusion: Wells Fargo prohibits direct financing of mountaintop removal coal mines.

See: Banking on Climate Change - policy scores

Total: 8 points out of 89

1.5 points for a weak exclusion of tar sands projects: Westpac does not provide project finance for oil sands development. This is a weak exclusion as it does not mention mining, exploration, pipelines or transportation.

1.5 points 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.

2 points for a weak exclusion of coal mining projects: Westpac limits lending for thermal coal mines or projects to existing basins, where the average calorific value on a Gross as Received basis must be at least 5,700 kCal/kg for existing mines; and at least 6,300 kCal/kg Gross as Received for new mines.

2 points for a weak exclusion of coal power projects: Westpac prohibits financing for new power generation unless it reduces the emissions intensity of the grid in which the generator operates.

1 point for a weak exclusion of coal infrastructure projects: Westpac limits support for thermal coal projects to only existing basins.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> ANZ prohibits direct financing for new coal-fired power plants that emit more than 0.8t CO2/MWh.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> Bank of America prohibits direct financing for "the construction of new coal-fired power plants in developed countries, unless those facilities employ technology that is focused on complete or near elimination of atmospheric carbon emissions, such as carbon capture technology."

See: Banking on Climate Change - policy scores

Prohibitions against financing 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.

-> Barclays will not finance projects involving fracking in Europe, including the UK.

-> Barclays will not provide general corporate financing that is specified as being for new or expanded coal mining or coal-fired power plant development.

-> Barclays prohibits financing for coal-fired power plants around the world.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> BBVA prohibits financing for tar sands exploration, production, and transport projects.

-> BBVA prohibits financing for Arctic oil and gas exploration and production projects.

-> BBVA prohibits direct financing for new coal mines and coal mine expansions, including MTR mines, but allows exceptions for countries with high levels of imported energy.

-> BBVA prohibits direct financing for new coal plants and coal plant expansions, but allows exceptions for countries with high levels of imported energy.

Prohibitions against financing expansion companies:

-> BBVA prohibits financing of clients that are expanding coal-fired power generation capacity, but allows exceptions for countries with high levels of energy imports.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> BNP Paribas prohibits financing for tar sands exploration, production and pipeline 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.

-> BNP Paribas prohibits financing for fracked oil and gas exploration and production projects, and pipelines.

-> BNP Paribas prohibits financing for LNG terminals that are supplied by fracked gas.

-> BNP Paribas prohibits financing for thermal coal mining projects.

-> BNP Paribas prohibits financing for coal-fired power plant projects, regardless of location.

-> BNP Paribas prohibits financing for coal infrastructure projects.

Prohibitions against financing expansion companies:

-> BNP Paribas will not accept any NEW client who is planning to add coal-fired power generation (CFPG) capacity to its power portfolio.

-> BNP Paribas does not provide any financial products or services to coal mining companies that are planning to develop thermal coal extraction capacities (new mines or expansion of existing ones).

See: Banking on Climate Change - policy scores

Prohibitions against financing 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.

-> Citigroup provides no project-related financing for new thermal coal mines or expansions of existing mines.

-> Citigroup provides no project-related financing for new coal-fired power plants or expansions of existing plants.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> Commerzbank prohibits project finance for tar sands extraction and pipelines.

-> Commerzbank prohibits project financing related to the extraction of oil and gas in the Arctic. The policy does not mention infrastructure.

-> Commerzbank rules out project finance for fracked oil and gas.

-> Commerzbank prohibits direct finance for new coal mines and MTR mines.

-> Commerzbank prohibits direct finance for new coal-fired power plants, with possible exceptions.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> Commonwealth Bank prohibits project finance for mining, exploration, or development of tar sands oil. There is no prohibition on pipelines or transportation.

-> 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.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> Crédit Agricole prohibits the direct financing of oil sands projects, as well as pipeline projects mainly dedicated to the transportation of oil produced from oil sands.

-> Crédit Agricole prohibits oil projects in the Arctic, but the exclusion does not cover gas.

-> Crédit Agricole prohibits any support to thermal coal mines.

-> Crédit Agricole prohibits financing for new coal plants and existing coal plants.

-> Crédit Agricole excludes any financial support for coal infrastructure projects.

Prohibitions against financing expansion companies:

-> Crédit Agricole prohibits financing to coal mine developers starting in 2021.

-> Crédit Agricole prohibits financing to coal plant developers starting in 2021.

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

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> Credit Suisse prohibits direct finance for new greenfield thermal coal mines, and MTR projects.

-> Credit Suisse prohibits direct finance for new coal-fired power plants.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> DBS prohibits financing for greenfield thermal coal mines.

-> DBS prohibits financing for new coal-fired power plants.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> Deutsche Bank prohibits finance for new projects involving exploration, production, transport/processing of oil sands.

-> Deutsche Bank prohibits finance for 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).

-> Deutsche Bank prohibits finance for oil and gas projects via hydraulic fracturing in countries with extremely high water stress.

-> Deutsche Bank prohibits new financing for greenfield thermal coal mines.

-> Deutsche Bank prohibits financing for new coal-fired power plants and the expansion of existing plants, regardless of location.

-> 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

Prohibitions against financing 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.

-> Goldman Sachs's prohibition on financing for "new thermal coal mine development" covers both new mines and expansions of existing mines.

-> Goldman Sachs's prohibition on financing for "new coal fired power generation" covers both new plants and expansions of existing plants.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> HSBC prohibits direct finance for greenfield tar sands extraction projects and pipelines.

-> HSBC prohibits direct finance for new offshore Arctic oil and gas projects.

-> HSBC prohibits financing for new thermal coal mines.

-> HSBC will not finance any new coal-fired power plants anywhere globally.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> ING prohibits direct financing for "mining, exploration and upgrading of oil sands, including pipeline infrastructure dedicated to the exclusive use of transporting oil from oil sands." The pipeline finance prohibition applies only to pipelines exclusively transporting tar sands.

-> ING prohibits financing for "Arctic offshore oil and gas exploration and production" projects, but not related infrastructure.

-> ING prohibits project financing for "mining, exploration and upgrading of shale gas in Europe."

-> ING prohibits financing for new thermal coal mines.

-> ING prohibits financing for new coal plants.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> Intesa Sanpaolo will not provide finance for new coal mines. Expansion not mentioned in this policy. Intesa Sanpaolo also restricts project finance for the acquisition of companies already operating in the mining sector if this leads to mix of extracted raw materials where coal accounts for more than 50%.

-> 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.

Prohibitions against financing expansion companies:

-> Intesa Sanpaolo will not provide any new general purpose finance to companies engaged in the construction of new coal mines.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> JPMorgan Chase prohibits financing for "upstream, midstream or downstream greenfield oil and gas development in the Arctic."

-> JPMorgan Chase prohibits financing for new greenfield coal mines only.

-> 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.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> MUFG prohibits financing for MTR coal mining projects.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> Mizuho will not provide financing or investment to coal mining projects employing the mountain top removal method.

-> 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.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> Morgan Stanley will not directly finance new oil and gas exploration and development in the Arctic, but its policy does not mention infrastructure.

-> Morgan Stanley excludes direct finance for new coal mines. Expansion is not mentioned in this policy. Morgan Stanley will also not provide financing for mountain top removal coal mines.

-> 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.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> NAB prohibits financing for tar sands extraction projects, but not pipelines or transportation.

-> NAB prohibits financing for "oil and gas projects within or impacting the Arctic National Wildlife Refuge."

-> NAB prohibits financing for new thermal coal mining projects.

-> NAB prohibits financing for new or expanded coal-fired power plants.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> BPCE/Natixis will no longer finance shale oil and gas exploration and production projects worldwide. The policy does not mention infrastructure.

-> BPCE/Natixis prohibits dedicated finance for tar sands exploration and production, or for pipeline and other midstream infrastructure supplied with 30% or more tar sands oil.

-> BPCE/Natixis prohibits direct finance for Arctic oil exploration and production.

-> BPCE/Natixis prohibits financing for greenfield or brownfield thermal coal mines.

-> BPCE/Natixis prohibits financing for greenfield or brownfield coal-fired power plants, and restricts financing for the acquisition of coal-fired power plants.

-> 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.

Prohibitions against financing expansion companies:

-> BPCE/Natixis will no longer support companies that develop new capacity in coal-powered electricity generation.

-> BPCE/Natixis will no longer support companies that develop new capacity in thermal coal mining.

For the most recent policy updates by Natixis, see the press release below. These updates are not yet integrated in Natixis' previous policy.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> RBS prohibits lending for tar sands exploration and extraction projects, but not transportation.

-> RBS's commits to exclude lending to oil exploration and production projects in the Arctic or Antarctic, but does not cover underwriting such projects, nor does it cover gas in the region.

-> RBS prohibits lending to projects involving exploration for new oil and gas reserves, which includes offshore exploration projects.

-> RBS prohibits financing for "projects involving hydraulic fracturing (‘fracking’) for oil and gas." It is not clear if this prohibition covers fracking-related infrastructure, such as fracked oil and gas pipelines.

-> RBS prohibits lending to projects involving exploration for new oil and gas reserves.

-> RBS prohibits lending for new thermal coal mining projects.

-> RBS prohibits lending for "the construction of new unabated coal power stations."

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> OCBC prohibits "new financing of Lignite Coal Mines".

-> OCBC prohibits new financing for all coal plants.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> Santander's prohibits direct finance for the "development, construction or expansion of oil and gas drilling projects north of the Arctic Circle". Its policy includes associated infrastructure.

-> Santander prohibits financing for new thermal coal mine projects.

-> Santander prohibits financing for new coal plant projects worldwide.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> Société Générale prohibits financing for all tar sands exploration and production projects, as well as for "infrastructures exclusively dedicated to the transport or storage of oil from oil sands." Expanding the latter to prohibit financing for infrastructure with any relation to tar sands would move this assessment to "strong exclusion."

-> 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.

-> Société Générale prohibits financing for all thermal coal mining projects.

-> Société Générale prohibits financing for all coal power plants.

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

Prohibitions against financing expansion companies:

-> Société Générale will not finance companies developing, or planning to develop, new thermal coal mines. For this policy commitment, the majority owners of the asset are considered. Société Générale will also refrain from financing 'Corporate Entities' of the thermal coal mining sector (which are defined as corporate entities directly operating or owning thermal coal mining assets) that are developing or planning to develop thermal coal mining capacity.

-> Société Générale will refrain from providing finance to companies of the thermal coal sector developing, or planning to develop, new coal-fuelled power capacities strictly above 300 MW. For this policy commitment, the majority owners of the asset are considered.

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

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> Standard Chartered's prohibition on direct financing for "new or existing tar sands exploration and/or production activities" also covers tar sands-related infrastructure.

-> Standard Chartered's prohibition on direct financing for "new or existing Arctic exploration and/or production activities" also covers Arctic-related infrastructure.

-> Standard Chartered prohibits financing for all new thermal coal mines.

-> Standard Chartered prohibits financing new coal plants and their expansions worldwide. This prohibition was recently extended to projects that had previously been "grandfathered" in and so were still eligible to receive financing.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> SMBC does not provide support for coal mining projects that are conducting the MTR method.

-> SMBC prohibits financing for coal-fired power plants that are not ultra-supercritical.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> TD prohibits financing for transactions related to mountaintop-removal coal mining.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> UBS prohibits financing for greenfield oil sands projects.

-> UBS prohibits financing for "new offshore oil projects in the Arctic."

-> UBS prohibits financing for greenfield thermal coal mines.

-> UBS prohibits financing for new coal plants globally.

See: Banking on Climate Change - policy scores

Prohibitions against financing 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.

-> 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.

-> 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.

-> 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. 

-> UniCredit prohibits financing for LNG projects that are fed by shale gas, ultra-deepwater gas, or Arctic offshore gas.

-> 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.

-> 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.

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

Prohibitions against financing expansion companies:

-> 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 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 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.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> Wells Fargo prohibits direct financing of "oil and gas projects in the Arctic region," without further specificity on what that covers.

-> Wells Fargo prohibits direct financing of mountaintop removal coal mines.

See: Banking on Climate Change - policy scores

Prohibitions against financing projects:

-> Westpac does not provide project finance for oil sands development. This is a weak exclusion as it does not mention mining, exploration, pipelines or transportation.

-> 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.

-> Westpac limits lending for thermal coal mines or projects to existing basins, where the average calorific value on a Gross as Received basis must be at least 5,700 kCal/kg for existing mines; and at least 6,300 kCal/kg Gross as Received for new mines.

-> Westpac prohibits financing for new coal power generation unless it reduces the emissions intensity of the grid in which the generator operates.

-> Westpac limits support for thermal coal projects to only existing basins.

See: Banking on Climate Change - policy scores