Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0 points out of 18

See: Policy scores Excel sheet

Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 3 points out of 18

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

2 points for a weak exclusion threshold regarding fracking companies: Barclays will not provide any financing to companies primarily engaged in fracking activities in the UK and Europe. Any financing for a company involved in fracking activities outside the UK and Europe, is subject to enhance due diligence.

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Total: 0 points out of 18

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Total: 7 points out of 18

3 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. 

4 points for a moderate exclusion threshold for fracked oil and gas companies: BNP Paribas prohibits financing for companies (a) for which unconventional oil and gas (including fracked oil and gas) is a significant part of their reserves, (b) for which unconventional oil and gas accounts for a significant share of revenue, or (c) which own or operate pipelines or LNG terminals with a significant volume of unconventional oil and gas. 

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Total: 1 point out of 18

1 point for a weak exclusion of fracked oil and gas projects: CaixaBank prohibits financing for projects that involve extraction through fracking, but the policy does not cover fracking-related infrastructure.

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding fracked oil and gas companies: Citi conducts enhanced due diligence for "clients with unconventional oil & gas operations in shale formations, including those utilizing hydraulic fracturing." 

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Total: 1 point out of 18

1 point for a weak exclusion of fracked oil and gas projects: Commerzbank rules out project finance for fracked oil and gas. This does not include infrastructure and is therefore weak.

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding fracked oil and gas companies: Commonwealth Bank explicitly requires that new oil and gas projects, including fracked oil and gas projects, be "in line with the goals of the Paris Agreement". While without further detail on implementation, this does not qualify as a project finance restriction, it does qualify for enhanced due diligence in the sector. 

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding fracked oil and gas companies: Crédit Agricole has enhanced due diligence for fracked oil and gas companies. 

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Total: 3.5 points out of 18

2 points for a moderate exclusion of fracked oil and gas projects: Crédit Mutuel prohibits financing for the exploration, production, transport infrastructure exclusively dedicated to shale oil and shale gas.

1.5 points for the commitment to reduce financing for fracked oil and gas companies: Crédit Mutuel will prohibit financing to companies which derive a significant proportion of their revenues from the exploration or production of fracked oil and gas.

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding fracked oil and gas companies: Credit Suisse has enhanced due diligence for fracked oil and gas.

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Total: 2 points out of 18

2 points for a weak exclusion threshold for fracked oil and gas companies: Danske Bank does not provide financial services to companies that generate more than 5% of their revenues from shale oil and gas exploration and production. This is assessed as weak as the threshold applied is based on revenues, and because the commitment does not include infrastructure companies. Moreover, a company may be exempted from this threshold if it "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: 0.5 point out of 18

0.5 point for enhanced due diligence regarding fracked oil and gas companies: DBS has an enhanced due diligence procedure for customers whose activities include "exploration and production of assets such as shale oil and shale gas, which may involve the use of hydraulic fracturing."

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Total: 1.5 points out of 18

1 point 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.

0.5 point for enhanced due diligence regarding fracked oil and gas companies: Deutsche Bank has enhanced due diligence for fracked oil and gas exploration and extraction. 

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Total: 0 points out of 18

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Total: 1 point out of 18

1 point for a weak exclusion of fracked oil and gas projects: DZ Bank prohibits financing for fracked oil and gas projects. This does not include infrastructure.

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding fracked oil and gas companies: Goldman Sachs conducts enhanced due diligence "for transactions involving new unconventional oil & gas and hydraulic fracturing."

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding fracked oil and gas companies: HSBC conducts enhanced due diligence for new fracked oil and gas. 

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 3 points out of 18

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

2 points for a weak exclusion threshold for fracked oil and gas companies: ING prohibits financing for companies >30% reliant on European shale gas. 

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Total: 6 points out of 18

1 point for a weak exclusion for fracked oil & gas projects: Intesa Sanpaolo will not provide financial products and services to projects aimed at the development, construction and expansion of exploration and extraction activities relating to fracked oil & gas, as well as activities relating to transport infrastructures solely linked to exploration and extraction of fracked oil & gas. The exclusion only applies to lending, not underwriting.

3 points for a weak phase-out for fracked oil & gas: Intesa Sanpaolo will terminate its exposure linked to fracked oil & gas by 2030. This applies only to lending, not underwriting.

2 points for a weak exclusion threshold: Intesa Sanpaolo excludes "companies with significant revenues from unconventional resources". The exclusion only applies to lending, not underwriting.

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding fracked oil and gas companies: JPMorgan Chase conducts enhanced due diligence for "any transaction with a client engaged in the exploration and/or extraction of shale oil or natural gas using hydraulic fracturing."

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Total: 0 points out of 18

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Total: 1 point out of 18

1 point for a weak exclusion of fracked oil and gas projects: Lloyds Banking Group does not finance onshore shale fracking.

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding fracked oil and gas companies: Morgan Stanley conducts enhanced due diligence for transactions related to exploration and production of shale oil or gas using hydraulic fracturing.

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Total: 0 points out of 18

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Total: 3 points out of 18

1 point for a weak exclusion of fracking projects: BPCE/Natixis will no longer finance shale oil and gas exploration and production projects worldwide. No mention of infrastructure.

2 points for a weak exclusion threshold regarding fracking companies: BPCE/Natixis prohibits the financing of companies whose activity is reliant by more than 25% on shale oil and gas exploration and production.

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Total: 2.5 points out of 18

2 points for a moderate exclusion of fracked oil and gas projects: NatWest does not finance projects involving hydraulic fracturing (‘fracking’) for oil and gas.

0.5 point for enhanced due diligence regarding fracked oil and gas: NatWest conducts enhanced due diligence for ''companies undertaking the exploration and extraction of shale gas where environmental and social risks are not appropriately managed.''

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Total: 0 points out of 18

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Total: 9 points out of 18

2 points for a  moderate exclusion of fracked oil and gas projects: Nordea does not finance or refinance new and pre-construction phase unconventional oil and gas extraction activities or pipelines. Nordea does not provide project financing dedicated to pipelines or the extraction of unconventional oil and gas. 

0 points for no explicit prohibition on financing companies expanding fracked oil and gas.

3 points for a weak phase-out commitment regarding fracked oil and gas companies: Nordea commits to phase out some financing for companies with fracked oil and gas operations. Phase-out commitments must cover the entire sector, or at least all companies with >5% exposure. Infrastructure not covered.

4 points for a moderate exclusion threshold for fracked oil and gas companies: Nordea prohibits financing for companies <50% reliant on fracked oil and gas. Nordea applies a 5% revenue threshold but does not include infrastructure.

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 3 points out of 18

3 points for a strong exclusion of fracked oil and gas projects: Rabobank prohibits financing for shale oil and gas exploration, production, transport, processing, or refining projects.

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Total: 0 points out of 18

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Total: 5 points out of 18

3 points for a strong exclusion of fracked oil and gas projects: Santander prohibits financing for new and expanding fracking projects, including extraction, refining, and transportation.

2 points for a weak exclusion threshold for fracked oil and gas companies: Santander prohibits financing for exploration and production companies where fracking represents a significant part of their reserves or more than 30% of their activity. This threshold does not appear to cover fracked oil and gas infrastructure companies.

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 0 points out of 18

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Total: 10 points out of 18

3 points for a strong exclusion of fracked oil and gas projects: SEB will not provide financial services to any new or expanding unconventional oil and gas projects, including shale/fracked oil and gas.

5 points for a strong phase-out commitment regarding fracked oil and gas companies: by 2030, SEB will have phased out business relationships with oil and gas companies where more than 5% of revenues are derived from operations relating to unconventional oil and gas, including shale/fracked oil and gas.

2 points for a weak exclusion threshold for fracked oil and gas companies: SEB will not enter new business relationships with companies where more than 5% of revenues are derived from operations relating to unconventional oil and gas, including shale/fracked oil and gas.

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Total: 1.5 points out of 18

1 point for a weak exclusion of fracked oil and gas projects: Société Générale will cease to provide financing to onshore upstream oil & gas in the US.

0.5 point for enhanced due diligence regarding fracked oil and gas companies: Société Générale conducts enhanced due diligence for transactions related to shale oil and gas.

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Total: 1 point out of 18

1 point for a weak exclusion of fracked oil and gas projects: SpareBank 1 SR-Bank does not finance the extraction of shale gas and shale oil.

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding fracked oil and gas companies: Standard Chartered conducts enhanced due diligence for clients involved with fracking.

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Total: 0 points out of 18

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding fracking companies: SMBC conducts enhanced due diligence when considering lending for shale oil and gas development (hydraulic fracturing).

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Total: 0 points out of 18

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding fracked oil and gas companies: Svenska Handelsbanken conducts enhanced due diligience for companies that are involved in extraction of unconventional fossil fuels, including shale oil and shale gas.

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Total: 1 point out of 18

1 point for a weak exclusion of fracked oil and gas projects: Swedbank will not directly finance unconventional fossil fuel production such as shale oil and gas.

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Total: 0 points out of 18

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding fracked oil and gas companies: TD conducts enhanced due diligence for oil and gas pipelines, including fracked oil and gas pipelines — but not for fracking itself.

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Total: 0 points out of 18

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding fracked oil and gas companies: UBS conducts enhanced due diligence only for "transactions with companies that practice hydraulic fracturing in environmentally and socially sensitive areas."

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Total: 4 points out of 18

2 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."

2 points for a weak exclusion threshold for fracked oil and gas companies:  UniCredit requires new and existing clients to get ≤25% of their revenue from shale oil and gas. For existing clients above that threshold, they must have a plan to get below that threshold, to be evaluated annually. This does not cover transport and therefore scores weak.

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Total: 0 points out of 18

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Total: 2.5 points out of 18

2 points for a moderate exclusion of fracked oil and gas projects:  US Bank does not provide project financing of long-term infrastructure or industrial projects, which would include fracked oil and gas extraction and infrastructure. This prohibition does not appear to cover all forms of direct financing for these projects, and so is assessed as "moderate."

0.5 point for enhanced due diligence regarding fracked oil and gas: US Bank conducts enhanced due diligence for hydraulic fracturing.

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Total: 0.5 point out of 18

0.5 point for enhanced due diligence regarding fracked oil and gas companies: Wells Fargo conducts enhanced due diligence for customers involved with fracking.

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Total: 0 points out of 18

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Barclays does not finance projects involving fracking in Europe, including the UK.

Barclays does not provide any financing to companies primarily engaged in fracking activities in the UK and Europe.

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

BNP Paribas further prohibits financing for companies (a) for which unconventional oil and gas (including fracked oil and gas) is a significant part of their reserves, (b) for which unconventional oil and gas accounts for a significant share of revenue, or (c) which own or operate pipelines or LNG terminals with a significant volume of unconventional oil and gas. 

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CaixaBank prohibits financing for projects that involve extraction through fracking. The policy does not cover fracking-related infrastructure.

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Commerzbank rules out project finance for fracked oil and gas. This does not include infrastructure.

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Crédit Mutuel prohibits financing for the exploration, production, transport infrastructure exclusively dedicated to shale oil and shale gas.

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Danske Bank does not provide financial services to companies that generate more than 5% of their revenues from shale oil and gas exploration and production. The threshold applied is based on revenues, and the commitment does not include infrastructure companies. Moreover, a company may be exempted from this threshold if it "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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Deutsche Bank will not finance oil and gas projects via hydraulic fracturing in countries with extremely high water stress.

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DZ Bank prohibits financing for fracked oil and gas projects. This does not include infrastructure.

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ING prohibits project financing for "mining, exploration and upgrading of shale gas in Europe." Since the exclusion only applies to Europe this counts as a weak exclusion policy. 

ING prohibits financing for companies >30% reliant on European shale gas. This counts as a weak exclusion threshold. 

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 Intesa Sanpaolo will not provide financial products and services to projects aimed at the development, construction and expansion of exploration and extraction activities relating to fracked oil & gas, as well as activities relating to transport infrastructures solely linked to exploration and extraction of fracked oil & gas. The exclusion only applies to lending, not underwriting.

Intesa Sanpaolo excludes "companies with significant revenues from unconventional resources". It is unclear what is meant by 'significant'. The exclusion only applies to lending, not underwriting.

Lloyds Banking Group does not finance onshore shale fracking.

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BPCE/Natixis does not finance shale oil and gas exploration and production projects worldwide. Its policy update does not mention infrastructure.

BPCE/Natixis prohibits the financing of companies whose activity is reliant by more than 25% on shale oil and gas exploration and production.

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NatWest does not finance projects involving hydraulic fracturing (‘fracking’) for oil and gas.

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