Banks and fossil fuel financing
Contact:

For any feedback or questions on this page please contact us at climate@banktrack.org

Share this page:

Go directly to the fossil fuel financing policy table, the oil and gas financing policy table or the coal financing policy table

Fossil fuel financing

This page summarises our assessments of the fossil fuel investment policies of the world’s largest banks, evaluating their progress on restricting financing for different types of fossil fuels. These assessments were originally included in our Banking on Climate Change 2020 report, published in March 2020. The tables below also include updated assessments of bank policies implemented since then. For banks’ scores on specific fossil fuel subsectors, including coal mining and coal power, tar sands, Arctic and offshore drilling, fracking and liquefied natural gas (LNG), see the links below.

On this page you'll find:

For policies on fossil fuel expansion, see here.

Overall policy score on fossil fuel financing

The table below shows banks’ aggregate policy score on all types of fossil fuels. The 'details' section in the table provides further detail per bank on how it scored for coal and oil & gas policies.

See here for banks' exposure to all fossil fuel sectors in 2016-2019. 

Bank policy score on fossil fuel financing

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Agricultural Bank of China
2020-03-01
CHN
0
ANZ
2020-03-01
AUS
10.5
Bank of America
2020-03-01
USA
6
Bank of China
2020-03-01
CHN
0.5
Bank of Montreal (BMO Financial Group)
2020-03-01
CAN
0.5
Barclays
2020-03-30
GBR
32
BBVA
2020-03-01
ESP
28
BNP Paribas
2020-05-11
FRA
66.5
China Construction Bank
2020-03-01
CHN
0.5
CIBC
2020-03-01
CAN
0.5
Citigroup
2020-04-20
USA
22
Commerzbank AG
2020-03-01
DEU
26.5
Commonwealth Bank of Australia
2020-03-01
AUS
19.5
Crédit Agricole
2020-03-01
FRA
82
Credit Suisse Group
2020-03-01
CHE
9
DBS Bank
2020-03-01
SGP
8.5
Deutsche Bank
2020-03-01
DEU
13
Goldman Sachs
2020-03-01
USA
21.5
HSBC
2020-04-23
GBR
20.5
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
ING Group
2020-03-01
NLD
45
Intesa Sanpaolo
2020-05-20
ITA
18.5
JPMorgan Chase
2020-03-01
USA
19.5
Mitsubishi UFJ Financial Group (MUFG)
2020-05-13
JPN
6
Mizuho
2020-06-01
JPN
9.5
Morgan Stanley
2020-04-22
USA
19.5
National Australia Bank
2020-03-01
AUS
21
Natixis
2020-05-18
FRA
73
OCBC
2020-03-01
SGP
8
Royal Bank of Canada
2020-03-01
CAN
1
Royal Bank of Scotland Group (RBS)
2020-03-01
GBR
59.5
Santander
2020-03-01
ESP
20.5
Scotiabank
2020-03-01
CAN
0.5
Société Générale
2020-03-01
FRA
56.5
Standard Chartered
2020-03-01
GBR
25.5
Sumitomo Mitsui Banking Corporation (SMBC)
2020-05-01
JPN
5.5
TD bank Financial Group
2020-03-01
CAN
3
UBS
2020-03-01
CHE
25.5
UniCredit Group
2020-03-01
ITA
59
United Overseas Bank
2020-03-01
SGP
9
Wells Fargo
2020-03-01
USA
9
Westpac Banking Corporation
2020-05-04
AUS
23.5
Explanation

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

 

Bank policy scores on oil and gas (overall score)

The table below shows banks’ aggregate policy score on oil and gas. The 'details' section in the table contains further detail on the exact scoring per bank for tar sands, Arctic oil and gas, offshore oil and gas, fracked oil and gas, liquefied natural gas (LNG) and 'other oil and gas'. This last sector includes, for example, conventional oil and gas. 

Bank policy score on oil and gas financing

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Agricultural Bank of China
2020-03-01
CHN
0
ANZ
2020-03-01
AUS
0.5
Bank of America
2020-03-01
USA
1.5
Bank of China
2020-03-01
CHN
0.5
Bank of Montreal (BMO Financial Group)
2020-03-01
CAN
0.5
Barclays
2020-03-30
GBR
11
BBVA
2020-03-01
ESP
8
BNP Paribas
2020-05-11
FRA
30.5
China Construction Bank
2020-03-01
CHN
0.5
CIBC
2020-03-01
CAN
0.5
Citigroup
2020-04-20
USA
6
Commerzbank AG
2020-03-01
DEU
12
Commonwealth Bank of Australia
2020-03-01
AUS
7.5
Crédit Agricole
2020-03-01
FRA
15
Credit Suisse Group
2020-03-01
CHE
2
DBS Bank
2020-03-01
SGP
1.5
Deutsche Bank
2020-03-01
DEU
1.5
Goldman Sachs
2020-03-01
USA
5.5
HSBC
2020-03-01
GBR
7.5
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
ING Group
2020-03-01
NLD
17
Intesa Sanpaolo
2020-03-01
ITA
0.5
JPMorgan Chase
2020-03-01
USA
6
Mitsubishi UFJ Financial Group (MUFG)
2020-05-13
JPN
1.5
Mizuho
2020-06-01
JPN
3
Morgan Stanley
2020-04-22
USA
6
National Australia Bank
2020-03-01
AUS
3.5
Natixis
2020-05-18
FRA
20
OCBC
2020-03-01
SGP
0
Royal Bank of Canada
2020-03-01
CAN
1
Royal Bank of Scotland Group (RBS)
2020-03-01
GBR
19.5
Santander
2020-03-01
ESP
6.5
Scotiabank
2020-03-01
CAN
0.5
Société Générale
2020-03-01
FRA
11.5
Standard Chartered
2020-03-01
GBR
9
Sumitomo Mitsui Banking Corporation (SMBC)
2020-05-01
JPN
2
TD bank Financial Group
2020-03-01
CAN
1.5
UBS
2020-03-01
CHE
8.5
UniCredit Group
2020-03-01
ITA
25.5
United Overseas Bank
2020-03-01
SGP
0.5
Wells Fargo
2020-03-01
USA
6
Westpac Banking Corporation
2020-05-04
AUS
3.5
Explanation

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

 

Bank policy scores on coal (overall score)

The table below shows banks’ aggregate policy score on coal. The 'details' section in the table provides further detail on the exact scoring per bank for coal mining, coal power, and 'other coal'. This last subsector covers coal beyond mining and power - mainly coal transportation and service projects and companies.

Bank policy score on coal financing

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
ABN AMRO
2020-03-01
NLD
26
Agricultural Bank of China
2020-03-01
CHN
0
ANZ
2020-03-01
AUS
10
Bank of America
2020-03-01
USA
4.5
Bank of China
2020-03-01
CHN
0
Bank of Montreal (BMO Financial Group)
2020-03-01
CAN
0
Barclays
2020-03-30
GBR
21
BBVA
2020-03-01
ESP
20
BNP Paribas
2020-07-01
FRA
39
China Construction Bank
2020-03-01
CHN
0
CIBC
2020-03-01
CAN
0
Citigroup
2020-04-20
USA
16
Commerzbank AG
2020-03-01
DEU
14.5
Commonwealth Bank of Australia
2020-03-01
AUS
12
Crédit Agricole
2020-03-01
FRA
67
Credit Mutuel-CIC
2020-03-01
FRA
75
Credit Suisse Group
2020-03-01
CHE
7
DBS Bank
2020-03-01
SGP
7
Deutsche Bank
2020-03-01
DEU
11.5
Goldman Sachs
2020-03-01
USA
16
HSBC
2020-04-23
GBR
13
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
ING Group
2020-03-01
NLD
28
Intesa Sanpaolo
2020-05-20
ITA
18
JPMorgan Chase
2020-03-01
USA
13.5
Mitsubishi UFJ Financial Group (MUFG)
2020-03-01
JPN
4.5
Mizuho
2020-06-01
JPN
6.5
Morgan Stanley
2020-04-22
USA
13.5
National Australia Bank
2020-03-01
AUS
17.5
Natixis
2020-05-18
FRA
53
OCBC
2020-03-01
SGP
8
PNC Bank
2020-03-01
USA
8.5
Royal Bank of Canada
2020-03-01
CAN
0
Royal Bank of Scotland Group (RBS)
2020-03-01
GBR
40
Santander
2020-03-01
ESP
14
Scotiabank
2020-03-01
CAN
0
Société Générale
2020-03-01
FRA
45
Standard Chartered
2020-03-01
GBR
16.5
Sumitomo Mitsui Banking Corporation (SMBC)
2020-05-01
JPN
3.5
TD bank Financial Group
2020-03-01
CAN
1.5
UBS
2020-03-01
CHE
17
UniCredit Group
2020-03-01
ITA
33.5
United Overseas Bank
2020-03-01
SGP
8.5
US Bancorp
2020-03-01
USA
12.5
Wells Fargo
2020-03-01
USA
3
Westpac Banking Corporation
2020-05-04
AUS
20
Explanation

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

 

Feedback welcome

Our policy assessments are always a work in progress and we very much welcome any feedback, especially from banks included in them. Please get in touch at climate@banktrack.org.