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Principles for Responsible Banking no obstacle to finance climate destruction
Twenty PRB banks provided over US$1.25 trillion in fossil fuel financing since Paris Agreement
Banks and fossil fuel financing
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Banks, climate & energy. Photo: BankTrackGo 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:
- An overall policy score on fossil fuel financing (with 200 possible points) consisting of:
- A policy score on oil and gas financing (120 possible points), reflecting the quality of
- Policies on tar sands (20 possible points)
- Policies on Arctic oil and gas (20 possible points)
- Policies on offshore oil and gas (20 possible points)
- Policies on fracked oil and gas (20 possible points)
- Policies on liquefied natural gas (LNG) (20 possible points)
- Policies on other/conventional oil and gas (20 possible points)
- An overall policy score on coal financing (80 possible points), reflecting the quality of
- Policies on coal mining (32 possible points)
- Policies on coal power (32 possible points)
- Policies on coal infrastructure (16 possible points)
For policies on fossil fuel expansion, see here.
To find out how bank policy scores progress over time, 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
0
0
ANZ
2020-03-01
AUS
10.5
10.5
0
Bank of America
2020-03-01
USA
6
6
0
Bank of China
2020-03-01
CHN
0.5
0.5
0
Bank of Montreal (BMO Financial Group)
2020-03-01
CAN
0.5
0.5
0
Barclays
2020-03-30
GBR
32
32
0
BBVA
2020-03-01
ESP
28
28
0
BNP Paribas
2020-07-22
FRA
91.5
91.5
0
China Construction Bank
2020-03-01
CHN
0.5
0.5
0
CIBC
2020-03-01
CAN
0.5
0.5
0
Citigroup
2020-04-20
USA
22
22
0
Commerzbank AG
2020-03-01
DEU
26.5
26.5
0
Commonwealth Bank of Australia
2020-03-01
AUS
19.5
19.5
0
Crédit Agricole
2020-03-01
FRA
82
82
0
Credit Suisse Group
2020-03-01
CHE
9
9
0
DBS Bank
2020-03-01
SGP
8.5
8.5
0
Deutsche Bank
2020-07-27
DEU
29.5
29.5
0
Goldman Sachs
2020-03-01
USA
21.5
21.5
0
HSBC
2020-04-25
GBR
20.5
20.5
0
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
0
0
ING Group
2020-03-01
NLD
45
45
0
Intesa Sanpaolo
2020-05-20
ITA
18.5
18.5
0
JPMorgan Chase
2020-03-01
USA
19.5
19.5
0
Mitsubishi UFJ Financial Group (MUFG)
2020-05-13
JPN
6
6
0
Mizuho
2020-06-01
JPN
7
7
0
Morgan Stanley
2020-04-22
USA
19
19
0
National Australia Bank
2020-03-01
AUS
21
21
0
Natixis
2020-05-18
FRA
73
73
0
NatWest Group (formerly RBS)
2020-03-01
GBR
59.5
59.5
0
OCBC
2020-03-01
SGP
8
8
0
Royal Bank of Canada
2020-03-01
CAN
1
1
0
Santander
2020-03-01
ESP
20.5
20.5
0
Scotiabank
2020-03-01
CAN
0.5
0.5
0
Société Générale
2020-07-31
FRA
74.5
74.5
0
Standard Chartered
2020-03-01
GBR
25.5
25.5
0
Sumitomo Mitsui Banking Corporation (SMBC)
2020-04-16
JPN
5.5
5.5
0
TD bank Financial Group
2020-03-01
CAN
3
3
0
UBS
2020-03-01
CHE
25.5
25.5
0
UniCredit Group
2020-09-04
ITA
100.5
100.5
0
United Overseas Bank
2020-03-01
SGP
9
9
0
Wells Fargo
2020-03-01
USA
9
9
0
Westpac Banking Corporation
2020-05-04
AUS
23.5
23.5
0
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/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
0
0
ANZ
2020-03-01
AUS
0.5
0.5
0
Bank of America
2020-03-01
USA
1.5
1.5
0
Bank of China
2020-03-01
CHN
0.5
0.5
0
Bank of Montreal (BMO Financial Group)
2020-03-01
CAN
0.5
0.5
0
Barclays
2020-03-30
GBR
11
11
0
BBVA
2020-03-01
ESP
8
8
0
BNP Paribas
2020-05-11
FRA
30.5
30.5
0
China Construction Bank
2020-03-01
CHN
0.5
0.5
0
CIBC
2020-03-01
CAN
0.5
0.5
0
Citigroup
2020-04-20
USA
6
6
0
Commerzbank AG
2020-03-01
DEU
12
12
0
Commonwealth Bank of Australia
2020-03-01
AUS
7.5
7.5
0
Crédit Agricole
2020-03-01
FRA
15
15
0
Credit Suisse Group
2020-03-01
CHE
2
2
0
DBS Bank
2020-03-01
SGP
1.5
1.5
0
Deutsche Bank
2020-07-27
DEU
9
9
0
Goldman Sachs
2020-03-01
USA
5.5
5.5
0
HSBC
2020-03-01
GBR
7.5
7.5
0
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
0
0
ING Group
2020-03-01
NLD
17
17
0
Intesa Sanpaolo
2020-03-01
ITA
0.5
0.5
0
JPMorgan Chase
2020-03-01
USA
6
6
0
Mitsubishi UFJ Financial Group (MUFG)
2020-05-13
JPN
1.5
1.5
0
Mizuho
2020-06-01
JPN
0.5
0.5
0
Morgan Stanley
2020-04-22
USA
6
6
0
National Australia Bank
2020-03-01
AUS
3.5
3.5
0
Natixis
2020-05-18
FRA
20
20
0
NatWest Group (formerly RBS)
2020-03-01
GBR
19.5
19.5
0
OCBC
2020-03-01
SGP
0
0
0
Royal Bank of Canada
2020-03-01
CAN
1
1
0
Santander
2020-03-01
ESP
6.5
6.5
0
Scotiabank
2020-03-01
CAN
0.5
0.5
0
Société Générale
2020-03-01
FRA
11.5
11.5
0
Standard Chartered
2020-03-01
GBR
9
9
0
Sumitomo Mitsui Banking Corporation (SMBC)
2020-05-01
JPN
2
2
0
TD bank Financial Group
2020-03-01
CAN
1.5
1.5
0
UBS
2020-03-01
CHE
8.5
8.5
0
UniCredit Group
2020-03-01
ITA
25.5
25.5
0
United Overseas Bank
2020-03-01
SGP
0.5
0.5
0
Wells Fargo
2020-03-01
USA
6
6
0
Westpac Banking Corporation
2020-05-04
AUS
3.5
3.5
0
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 coal infrastructure.
Bank policy score on coal financing
BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
ABN AMRO
2020-03-01
NLD
26
26
0
Agricultural Bank of China
2020-03-01
CHN
0
0
0
ANZ
2020-03-01
AUS
10
10
0
Bank of America
2020-03-01
USA
4.5
4.5
0
Bank of China
2020-03-01
CHN
0
0
0
Bank of Montreal (BMO Financial Group)
2020-03-01
CAN
0
0
0
Barclays
2020-03-30
GBR
21
21
0
BBVA
2020-03-01
ESP
20
20
0
BNP Paribas
2020-07-22
FRA
61
61
0
China Construction Bank
2020-03-01
CHN
0
0
0
CIBC
2020-03-01
CAN
0
0
0
Citigroup
2020-04-20
USA
16
16
0
Commerzbank AG
2020-03-01
DEU
14.5
14.5
0
Commonwealth Bank of Australia
2020-03-01
AUS
12
12
0
Crédit Agricole
2020-03-01
FRA
67
67
0
Credit Mutuel-CIC
2020-03-01
FRA
75
75
0
Credit Suisse Group
2020-03-01
CHE
7
7
0
DBS Bank
2020-03-01
SGP
7
7
0
Deutsche Bank
2020-07-27
DEU
20.5
20.5
0
Goldman Sachs
2020-03-01
USA
16
16
0
HSBC
2020-04-23
GBR
13
13
0
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
0
0
ING Group
2020-03-01
NLD
28
28
0
Intesa Sanpaolo
2020-05-20
ITA
18
18
0
JPMorgan Chase
2020-03-01
USA
13.5
13.5
0
Mitsubishi UFJ Financial Group (MUFG)
2020-03-01
JPN
4.5
4.5
0
Mizuho
2020-06-01
JPN
6.5
6.5
0
Morgan Stanley
2020-04-22
USA
13.5
13.5
0
National Australia Bank
2020-03-01
AUS
17.5
17.5
0
Natixis
2020-05-18
FRA
53
53
0
NatWest Group (formerly RBS)
2020-03-01
GBR
40
40
0
OCBC
2020-03-01
SGP
8
8
0
PNC Bank
2020-03-01
USA
8.5
8.5
0
Royal Bank of Canada
2020-03-01
CAN
0
0
0
Santander
2020-03-01
ESP
14
14
0
Scotiabank
2020-03-01
CAN
0
0
0
Société Générale
2020-07-31
FRA
63
63
0
Standard Chartered
2020-03-01
GBR
16.5
16.5
0
Sumitomo Mitsui Banking Corporation (SMBC)
2020-04-16
JPN
3.5
3.5
0
TD bank Financial Group
2020-03-01
CAN
1.5
1.5
0
UBS
2020-03-01
CHE
17
17
0
UniCredit Group
2020-09-04
ITA
75
75
0
United Overseas Bank
2020-03-01
SGP
8.5
8.5
0
US Bancorp
2020-03-01
USA
12.5
12.5
0
Wells Fargo
2020-03-01
USA
3
3
0
Westpac Banking Corporation
2020-05-04
AUS
20
20
0
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. 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.
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