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Banking on Climate Change 2020 - Tar sands. Photo: Rainforest Action Network (RAN)

Go directly to: tar sands policy table or tar sands exclusion table

What are tar sands?

Tar sands, also known by the fossil fuel industry as oil sands, are a type of unconventional fossil fuel. Tar sands consist of a mixture of clay, sand, water and a very thick, highly viscous form of oil often referred to as bitumen. Crude bitumen is so thick that it usually cannot be recovered through a well, so other extraction methods are needed. The two most commonly used extraction methods are ‘in-situ’ mining, where steam is used to liquify bitumen deep in the ground, and ‘surface mining’, where the extraction site is excavated. Most of the world’s proven tar sands reserves are in the province of Alberta, Canada. 

Surface mining of tar sands involves clearing large sections of boreal forest. The tar sands extraction and refining process also puts a heavy burden on fresh water supplies, consuming about six units of water for each unit of tar sands gasoline produced. The resulting waste water is highly toxic and often ends up stored in dangerous ‘tailings ponds’. Due to these unconventional extraction and refining methods, Canadian tar sands emit about 31% more greenhouse gases over their entire life cycle than average North American crude. The extraction of tar sands, and its transport by pipelines, is also linked to many other environmental and human rights issues such as water pollution, increased rates of cancer, disruption of habitat, air pollution and disruption, and violations of the collective human rights of Indigenous People.

Banks and tar sands

The severity of the climate crisis requires that banks must urgently take steps to disengage from financing all business activities and projects that continue the world's reliance on fossil fuels. Banks must therefore end support for all new tar sand projects and implement a full phase-out for financing tar sands, in line with the Paris climate agreement.

The world’s biggest financiers of tar sands are the Canadian banks TD and RBC. In the four years since the Paris climate agreement (2016-2019), both these banks poured about USD 22 billion into tar sands. Other major financiers of tar sands are JP Morgan Chase and Canadian banks CIBC, Bank of Montreal and Scotiabank.

Bank policies on tar sands are scored below. These scores were originally published in our Banking on Climate Change 2020 report, and any policy changes implemented since then have been assessed using the same methodology. The details section in the table contains further detail on the exact scoring per bank, as well as an overview of relevant policies.

See here for banks' exposure to the tar sands sector in 2016-2019.  

Bank policy scores on tar sands

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
ABN AMRO
2020-03-01
NLD
4
4
0
Netherlands
Profile
Laggard
4
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 4 points out of 20

4 points for a strong exclusion of tar sands projects: ABN AMRO prohibits direct finance for tar sands exploration, processing, transportation, and pipelines.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2018-11-30 00:00:00

Exclusion list

2018-11-30 00:00:00
Agricultural Bank of China
2020-03-01
CHN
0
0
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

ANZ
2020-03-01
AUS
0
0
0
Australia
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Bank of America
2020-03-01
USA
0.5
0.5
0
United States
Profile
Laggard
0.5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0.5 point out of 20

0.5 point for enhanced due diligence regarding tar sands companies: Bank of America conducts enhanced due diligence "on all relationships with companies that are focused on oil sands extraction."

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-10-23 00:00:00

Environmental and social risk policy framework

2019-10-23 00:00:00
Bank of China
2020-03-01
CHN
0
0
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Bank of Montreal (BMO Financial Group)
2020-03-01
CAN
0
0
0
Canada
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Barclays
2020-03-30
GBR
0.5
0.5
0
United Kingdom
Profile
Laggard
0.5
Follower
Front runner
Leader
1585519200
Last update: 2020-03-30
Explanation

Total: 0.5 point out of 20

0.5 point for enhanced due diligence regarding tar sands companies: Barclays commits to only provide financing to oil sand clients who have projects to reduce materially their overall emissions intensity, and a plan for the company as a whole to have lower emissions intensity than the level of the median global oil producer by the end of the decade. Any financing for a company involved in the exploration, extraction, transportation (including the construction of pipelines to carry oil sands), or processing of oil sands, is subject to enhanced due diligence.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-03-30 00:00:00

Position on climate change

2020-03-30 00:00:00
BBVA
2020-03-01
ESP
4
4
0
Spain
Profile
Laggard
4
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 4 points out of 20

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

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-03-01 00:00:00

Sector Norms

2019-03-01 00:00:00
BNP Paribas
2020-03-01
FRA
9
9
0
France
Profile
Laggard
Follower
9
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 9 points out of 20

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

5 points for a strong exclusion threshold for tar sands companies: BNP Paribas prohibits financing for companies (a) for which unconventional oil and gas (including tar sands oil) 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 with a significant volume of unconventional oil and gas.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2017-12-19 00:00:00

Unconventional Oil and Gas - Sector Policy

2017-12-19 00:00:00
Caixabank
2020-03-01
ESP
6
6
0
Spain
Profile
Laggard
Follower
6
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 6 points out of 20

4 points for a strong exclusion of tar sands projects: CaixaBank prohibits financing for any project related to bitumen extraction, as well as any project linked to the construction of oil pipelines that could potentially transport oil coming from the tar sands. This policy covers new and expanded projects.

2 points for a weak exclusion threshold for tar sands companies: CaixaBank prohibits financing for  companies "where bituminous sand exploration or production accounts for more than 10% of the group’s consolidated turnover at level of parent company." This is assessed as weak because tar sands transportation isn't included in the percentage, which is calculated at the parent company level.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-02-28 00:00:00

Environmental risk management policy

2019-02-28 00:00:00
China Construction Bank
2020-03-01
CHN
0
0
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

CIBC
2020-03-01
CAN
0
0
0
Canada
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Citigroup
2020-03-01
USA
0.5
0.5
0
United States
Profile
Laggard
0.5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0.5 point out of 20

0.5 point for enhanced due diligence regarding tar sands companies: Citi conducts enhanced due diligence for "any client with oil sands operations."

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-07-31 00:00:00

Environmental and social policy framework

2020-07-31 00:00:00
Commerzbank AG
2020-03-01
DEU
4
4
0
Germany
Profile
Laggard
4
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 4 points out of 20

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

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-02-29 00:00:00

Policy framework for handling environmental and social risks in its core business

2020-02-29 00:00:00
Commonwealth Bank of Australia
2020-03-01
AUS
2
2
0
Australia
Profile
Laggard
2
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 2 points out of 20

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.

0.5 point for enhanced due diligence regarding tar sands companies: Commonwealth Bank explicitly requires that new oil and gas projects, including tar sands 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.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-11-14 00:00:00

Environmental and Social Framework

2019-11-14 00:00:00
Crédit Agricole
2020-03-01
FRA
9
9
0
France
Profile
Laggard
Follower
9
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 9 points out of 20

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.

5 points for a strong exclusion threshold for tar sands companies: Crédit Agricole prohibits financing to companies whose main activity is linked to oil sands or infrastructure projects mainly dedicated to the transportation of oil sands.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2017-12-31 00:00:00

CSR Sector Policy - Oil & Gas

2017-12-31 00:00:00
Credit Suisse Group
2020-03-01
CHE
0.5
0.5
0
Switzerland
Profile
Laggard
0.5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0.5 point out of 20

0.5 point for enhanced due diligence regarding tar sands companies: Credit Suisse has enhanced due diligence for tar sands oil.

See: Banking on Climate Change - policy scores

Relevant policies
csr policiesprivate
2020-10-23 00:00:00

Summary of Sector Policies and Guidelines out of date

2020-10-23 00:00:00
DBS Bank
2020-03-01
SGP
0
0
0
Singapore
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Deutsche Bank
2020-07-27
DEU
3
3
0
Germany
Profile
Laggard
3
Follower
Front runner
Leader
1595800800
Last update: 2020-07-27
Explanation

Total: 3 points out of 20

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.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-07-27 00:00:00

Environmental and Social Policy Framework July 2020

2020-07-27 00:00:00
References
2020-7-27

Deutsche Bank’s new policies: much needed movement, still a long way to Paris

2020-7-27
urgewald
Goldman Sachs
2020-03-01
USA
0.5
0.5
0
United States
Profile
Laggard
0.5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0.5 point out of 20

0.5 point for enhanced due diligence regarding tar sands companies: Goldman Sachs conducts enhanced due diligence "for transactions relating to oil sands."

See: Banking on Climate Change - policy scores

Relevant policies
csr policiesprivate
2019-12-15 00:00:00

Environmental Policy Framework out of date

2019-12-15 00:00:00
HSBC
2020-04-23
GBR
3.5
3.5
0
United Kingdom
Profile
Laggard
3.5
Follower
Front runner
Leader
1587592800
Last update: 2020-04-23
Explanation

Total: 3.5 points out of 20

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

0.5 point for enhanced due diligence regarding tar sands companies: HSBC has enhanced due diligence for tar sands oil.

See: Banking on Climate Change - policy scores

Relevant policies
csr policiesprivate
2020-02-15 00:00:00

Energy policy out of date

2020-02-15 00:00:00
Industrial and Commercial Bank of China (ICBC)
2020-03-01
CHN
0
0
0
China
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

ING Group
2020-03-01
NLD
8
8
0
Netherlands
Profile
Laggard
Follower
8
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 8 points out of 20

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."

5 points for a strong exclusion threshold for tar sands companies: ING prohibits financing for companies >30% reliant on tar sands.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-07-01 00:00:00

Environmental and Social Risk Framework

2019-07-01 00:00:00
Intesa Sanpaolo
2020-03-01
ITA
0
0
0
Italy
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

JPMorgan Chase
2020-03-01
USA
0.5
0.5
0
United States
Profile
Laggard
0.5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0.5 point out of 20

0.5 point for enhanced due diligence regarding tar sands companies: JPMorgan Chase conducts enhanced due diligence for "any transaction with a client involved in oil sands development."

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-02-25 00:00:00

Environmental and social policy framework

2020-02-25 00:00:00
KBC
2020-03-01
BEL
3.5
3.5
0
Belgium
Profile
Laggard
3.5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 3.5 points out of 20

1.5 points for a weak exclusion of tar sands projects: KBC prohibits financing for tar sands exploration and development projects, but not infrastructure.

2 points for a weak exclusion threshold for tar sands companies: KBC prohibits financing for "stand-alone specialist companies that are solely active in the development and extraction of oil and gas fields," which includes some tar sands companies.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-09-30 00:00:00

Energy credit, insurance and advisory services policy

2019-09-30 00:00:00
Mitsubishi UFJ Financial Group (MUFG)
2020-05-13
JPN
0.5
0.5
0
Japan
Profile
Laggard
0.5
Follower
Front runner
Leader
1589320800
Last update: 2020-05-13
Explanation

Total: 0.5 point out of 20

0.5 point for enhanced due diligence regarding tar sands companies: MUFG conducts enhanced due diligence for clients planning new projects for the extraction of oil sands.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-05-13 00:00:00

Revision of the MUFG Environmental and Social Policy Framework

2020-05-13 00:00:00
Mizuho
2020-03-01
JPN
0
0
0
Japan
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Morgan Stanley
2020-03-01
USA
0.5
0.5
0
United States
Profile
Laggard
0.5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0.5 point out of 20

0.5 point for enhanced due diligence regarding tar sands companies: Morgan Stanley conducts enhanced due diligence for transactions related to tar sands.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-04-22 00:00:00

Environmental and social risk policy statement

2020-04-22 00:00:00
National Australia Bank
2020-03-01
AUS
1.5
1.5
0
Australia
Profile
Laggard
1.5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 1.5 points out of 20

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

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-01-01 00:00:00

ESG policy for oil and gas sector

Page seven of NAB's 2018 CSR report
2019-01-01 00:00:00
Natixis
2020-03-01
FRA
9
9
0
France
Profile
Laggard
Follower
9
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 9 points out of 20

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.

5 points for a strong exclusion threshold for tar sands companies: BPCE/Natixis prohibits general corporate finance for companies with 30% or more of their activity in tar sands oil exploration, production, transport, storage, or export.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2018-11-23 00:00:00

ESR Sector Policy - Oil and Gas

2018-11-23 00:00:00
NatWest Group (formerly RBS)
2020-03-01
GBR
3.5
3.5
0
United Kingdom
Profile
Laggard
3.5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 3.5 points out of 20

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

1.5 points for the commitment to reduce financing for tar sands companies: RBS prohibits "lending to major Oil and Gas producers, unless they have a credible transition plan aligned with the 2015 Paris Agreement in place by the end of 2021," which includes some tar sands companies. This qualifies as a reduction because it only applies to "major" O&G companies (to qualify for phase-out, a commitment must cover the entire sector).

0.5 point for enhanced due diligence regarding tar sands companies: RBS' prohibition on "lending to major Oil and Gas producers, unless they have a credible transition plan aligned with the 2015 Paris Agreement in place by the end of 2021" could be strengthened with further clarification on what Paris Alignment means to RBS. In the meantime, this qualifies as enhanced due diligence for tar sands companies.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-04-28 00:00:00

Oil & Gas sector policy

Updated February 2020
2020-04-28 00:00:00
csr policies
2020-02-14 00:00:00

Climate ambition

2020-02-14 00:00:00
OCBC
2020-03-01
SGP
0
0
0
Singapore
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Rabobank
2020-03-01
NLD
6
6
0
Netherlands
Profile
Laggard
Follower
6
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 6 points out of 20

4 points for a strong exclusion of tar sands projects: Rabobank prohibits financing for tar sands exploration, production, transport, processing, or refining projects.

2 points for a weak exclusion threshold for tar sands companies: Rabobank prohibits financing for majority tar sands exploration and production companies.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-08-27 00:00:00

Sustainability Policy Framework

2019-08-27 00:00:00
Royal Bank of Canada
2020-03-01
CAN
0.5
0.5
0
Canada
Profile
Laggard
0.5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0.5 point out of 20

0.5 point for enhanced due diligence regarding tar sands companies: RBC conducts enhanced due diligence for companies operating in Canada's tar sands sector.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-03-05 00:00:00

Environmental policy

2019-03-05 00:00:00
Santander
2020-03-01
ESP
0.5
0.5
0
Spain
Profile
Laggard
0.5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0.5 point out of 20

0.5 point for enhanced due diligence regarding tar sands companies: Santander conducts enhanced due diligence on transactions related to tar sands.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-01-21 00:00:00

Energy sector policy

2020-01-21 00:00:00
Scotiabank
2020-03-01
CAN
0
0
0
Canada
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

Société Générale
2020-03-01
FRA
5
5
0
France
Profile
Laggard
5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 5 points out of 20

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."

2 points for a weak exclusion threshold for tar sands companies: Société Générale prohibits financing for companies that get a majority of their revenue from tar sands for exploration and production or have a majority of their reserves in tar sands.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2018-05-18 00:00:00

Sector policy oil and gas

2018-05-18 00:00:00
Standard Chartered
2020-03-01
GBR
4
4
0
United Kingdom
Profile
Laggard
4
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 4 points out of 20

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.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-09-19 00:00:00

Extractive Industries Position Statement

2019-09-19 00:00:00
Sumitomo Mitsui Banking Corporation (SMBC)
2020-05-01
JPN
0.5
0.5
0
Japan
Profile
Laggard
0.5
Follower
Front runner
Leader
1588284000
Last update: 2020-05-01
Explanation

Total: 0.5 point out of 20

0.5 point for enhanced due diligence regarding tar sands companies: SMBC conducts enhanced due diligence for oil sands businesses when considering lending.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-04-16 00:00:00

Revision of ESG financing policies

2020-04-16 00:00:00
TD bank Financial Group
2020-03-01
CAN
0.5
0.5
0
Canada
Profile
Laggard
0.5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0.5 point out of 20

0.5 for enhanced due diligence regarding tar sands companies: TD conducts enhanced due diligence for the tar sands sector.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-11-09 00:00:00

Non-Retail Environmental and Social Credit Risk Process (Updated November 2020)

2019-11-09 00:00:00
csr policies
2019-06-24 00:00:00

Responsible Financing

Page 17 of TD's CSR report 2018
2019-06-24 00:00:00
UBS
2020-03-01
CHE
3.5
3.5
0
Switzerland
Profile
Laggard
3.5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 3.5 points out of 20

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

2 points for a weak exclusion threshold for tar sands companies: UBS prohibits financing for companies with ">30% of reserves or production" in tar sands, unless the financing is for "renewable energy or conventional oil & gas assets." Tar sands pipeline companies are not included in this threshold.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-04-21 00:00:00

Climate-related standards in the enery and utilities sectors

Page 56 of the UBS' CSR report 2019
2020-04-21 00:00:00
UniCredit Group
2020-03-01
ITA
5
5
0
Italy
Profile
Laggard
5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 5 points out of 20

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.

2 points for a weak exclusion threshold for tar sands companies: UniCredit requires new and existing clients to get ≤25% of their revenue from tar sands extraction; tar sands pipeline companies are not covered by this exclusion threshold. For existing clients above that threshold, they must have a plan to get below that threshold, to be evaluated annually.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-11-27 00:00:00

Arctic and Non-Conventional Oil & Gas Industry Sector Policy

2019-11-27 00:00:00
United Overseas Bank
2020-03-01
SGP
0
0
0
Singapore
Profile
Laggard
0
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0 points out of 20

See: Banking on Climate Change - policy scores

US Bancorp
2020-03-01
USA
2
2
0
United States
Profile
Laggard
2
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 2 points out of 20

1.5 points for a weak exclusion of tar sands projects: US Bank prohibits project financing for the construction of oil pipelines, which includes tar sands pipelines. But the bank does not prohibit financing for any tar sands extraction projects.

0.5 point for enhanced due diligence regarding tar sands companies: US Bank conducts enhanced due diligence for the oil sands sector.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-02-11 00:00:00

Environmental responsibility policy

2020-02-11 00:00:00
Wells Fargo
2020-03-01
USA
0.5
0.5
0
United States
Profile
Laggard
0.5
Follower
Front runner
Leader
1583017200
Last update: 2020-03-01
Explanation

Total: 0.5 point out of 20

0.5 point for enhanced due diligence regarding tar sands companies: Wells Fargo conducts enhanced  due diligence "for clients involved in oil sands."

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2018-06-30 00:00:00

Environmental and Social Risk Management Framework

2018-06-30 00:00:00
Westpac Banking Corporation
2020-05-04
AUS
1.5
1.5
0
Australia
Profile
Laggard
1.5
Follower
Front runner
Leader
1588543200
Last update: 2020-05-04
Explanation

Total: 1.5 points out of 20

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.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-05-04 00:00:00

Climate Change Position Statement and 2023 Action Plan

2020-05-04 00:00:00
Explanation

The point-based policy ranking above assesses bank policies in four ways:

 1) Restriction on direct financing for tar sands projects.

  • None (0), weak exclusion (1.5), moderate exclusion (3), strong exclusion (4)

2) Restriction on financing for companies that expand tar sands.

  • None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for tar sands.

  • None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in tar sands above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its tar sands policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points). 

 

Banks excluding finance for tar sands

A number of banks have already taken steps to fully or partially exclude tar sand projects or companies involved in tar sand operations from their investments. The table below lists banks that have taken such steps.  

Exclusion table tar sands

BankLast update
Country
Details
Project
Company
ABN AMRO
2020-03-01
NLD
4
4
100
Netherlands
Profile
Project
4
Company
1583017200
Last update: 2020-03-01
Explanation

ABN AMRO prohibits direct finance for tar sands exploration, processing, transportation, and pipelines.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2018-11-30 00:00:00

Exclusion list

2018-11-30 00:00:00
Barclays
2020-03-30
GBR
0.5
0.5
-1
United Kingdom
Profile
Project
0.5
Company
1585519200
Last update: 2020-03-30
Explanation

Barclays commits to only provide financing to oil sand clients who have projects to reduce materially their overall emissions intensity, and a plan for the company as a whole to have lower emissions intensity than the level of the median global oil producer by the end of the decade. Any financing for a company involved in the exploration, extraction, transportation (including the construction of pipelines to carry oil sands), or processing of oil sands, is subject to enhanced due diligence.

See: Banking on Climate Change - policy scores

BBVA
2020-03-01
ESP
4
4
100
Spain
Profile
Project
4
Company
1583017200
Last update: 2020-03-01
Explanation

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

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-03-01 00:00:00

Sector Norms

2019-03-01 00:00:00
BNP Paribas
2020-03-01
FRA
9
9
99
France
Profile
Project
Company
9
1583017200
Last update: 2020-03-01
Explanation

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

BNP Paribas prohibits financing for companies (a) for which unconventional oil and gas (including tar sands oil) 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 with a significant volume of unconventional oil and gas.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2017-12-19 00:00:00

Unconventional Oil and Gas - Sector Policy

2017-12-19 00:00:00
Caixabank
2020-03-01
ESP
6
6
99
Spain
Profile
Project
Company
6
1583017200
Last update: 2020-03-01
Explanation

CaixaBank prohibits financing for any project related to bitumen extraction, as well as any project linked to the construction of oil pipelines that could potentially transport oil coming from the tar sands. This policy covers new and expanded projects.

CaixaBank prohibits financing for  companies "where bituminous sand exploration or production accounts for more than 10% of the group’s consolidated turnover at level of parent company." This is assessed as weak because tar sands transportation isn't included in the percentage, which is calculated at the parent company level.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-02-28 00:00:00

Environmental risk management policy

2019-02-28 00:00:00
Commerzbank AG
2020-03-01
DEU
4
4
100
Germany
Profile
Project
4
Company
1583017200
Last update: 2020-03-01
Explanation

Commerzbank prohibits project finance for tar sands extraction and pipelines.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-02-29 00:00:00

Policy framework for handling environmental and social risks in its core business

2020-02-29 00:00:00
Commonwealth Bank of Australia
2020-03-01
AUS
2
2
-1
Australia
Profile
Project
2
Company
1583017200
Last update: 2020-03-01
Explanation

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

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-11-14 00:00:00

Environmental and Social Framework

2019-11-14 00:00:00
Crédit Agricole
2020-03-01
FRA
9
9
99
France
Profile
Project
Company
9
1583017200
Last update: 2020-03-01
Explanation

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 financing to companies whose main activity is linked to oil sands or infrastructure projects mainly dedicated to the transportation of oil sands.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2017-12-31 00:00:00

CSR Sector Policy - Oil & Gas

2017-12-31 00:00:00
Deutsche Bank
2020-07-27
DEU
0
-1
Germany
Profile
Project
Company
1595800800
Last update: 2020-07-27
Explanation

Deutsche Bank will not finance new projects involving exploration, production, transport/processing of oil sands.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-07-27 00:00:00

Environmental and Social Policy Framework July 2020

2020-07-27 00:00:00
References
2020-7-27

Deutsche Bank’s new policies: much needed movement, still a long way to Paris

2020-7-27
urgewald
HSBC
2020-04-23
GBR
3.5
3.5
-1
United Kingdom
Profile
Project
3.5
Company
1587592800
Last update: 2020-04-23
Explanation

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

See: Banking on Climate Change - policy scores

ING Group
2020-03-01
NLD
8
8
-2
Netherlands
Profile
Project
Company
8
1583017200
Last update: 2020-03-01
Explanation

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."

ING prohibits financing for companies >30% reliant on tar sands.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-07-01 00:00:00

Environmental and Social Risk Framework

2019-07-01 00:00:00
KBC
2020-03-01
BEL
3.5
3.5
-2
Belgium
Profile
Project
3.5
Company
1583017200
Last update: 2020-03-01
Explanation

KBC prohibits financing for tar sands exploration and development projects, but not infrastructure.

KBC prohibits financing for "stand-alone specialist companies that are solely active in the development and extraction of oil and gas fields," which includes some tar sands companies.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-09-30 00:00:00

Energy credit, insurance and advisory services policy

2019-09-30 00:00:00
National Australia Bank
2020-03-01
AUS
1.5
1.5
-1
Australia
Profile
Project
1.5
Company
1583017200
Last update: 2020-03-01
Explanation

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

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-01-01 00:00:00

ESG policy for oil and gas sector

Page seven of NAB's 2018 CSR report
2019-01-01 00:00:00
Natixis
2020-03-01
FRA
9
9
99
France
Profile
Project
Company
9
1583017200
Last update: 2020-03-01
Explanation

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 general corporate finance for companies with 30% or more of their activity in tar sands oil exploration, production, transport, storage, or export.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2018-11-23 00:00:00

ESR Sector Policy - Oil and Gas

2018-11-23 00:00:00
NatWest Group (formerly RBS)
2020-03-01
GBR
3.5
3.5
-1
United Kingdom
Profile
Project
3.5
Company
1583017200
Last update: 2020-03-01
Explanation

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

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-04-28 00:00:00

Oil & Gas sector policy

Updated February 2020
2020-04-28 00:00:00
csr policies
2020-02-14 00:00:00

Climate ambition

2020-02-14 00:00:00
Rabobank
2020-03-01
NLD
6
6
99
Netherlands
Profile
Project
Company
6
1583017200
Last update: 2020-03-01
Explanation

Rabobank prohibits financing for tar sands exploration, production, transport, processing, or refining projects.

Rabobank prohibits financing for majority tar sands exploration and production companies.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-08-27 00:00:00

Sustainability Policy Framework

2019-08-27 00:00:00
Société Générale
2020-03-01
FRA
5
5
-2
France
Profile
Project
5
Company
1583017200
Last update: 2020-03-01
Explanation

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 companies that get a majority of their revenue from tar sands for exploration and production or have a majority of their reserves in tar sands.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2018-05-18 00:00:00

Sector policy oil and gas

2018-05-18 00:00:00
Standard Chartered
2020-03-01
GBR
4
4
100
United Kingdom
Profile
Project
4
Company
1583017200
Last update: 2020-03-01
Explanation

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

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-09-19 00:00:00

Extractive Industries Position Statement

2019-09-19 00:00:00
UBS
2020-03-01
CHE
3.5
3.5
-2
Switzerland
Profile
Project
3.5
Company
1583017200
Last update: 2020-03-01
Explanation

UBS prohibits financing for greenfield oil sands projects.

UBS prohibits financing for companies with ">30% of reserves or production" in tar sands, unless the financing is for "renewable energy or conventional oil & gas assets." Tar sands pipeline companies are not included in this threshold.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-04-21 00:00:00

Climate-related standards in the enery and utilities sectors

Page 56 of the UBS' CSR report 2019
2020-04-21 00:00:00
UniCredit Group
2020-03-01
ITA
5
5
-2
Italy
Profile
Project
5
Company
1583017200
Last update: 2020-03-01
Explanation

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 requires new and existing clients to get ≤25% of their revenue from tar sands extraction; tar sands pipeline companies are not covered by this exclusion threshold. For existing clients above that threshold, they must have a plan to get below that threshold, to be evaluated annually.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2019-11-27 00:00:00

Arctic and Non-Conventional Oil & Gas Industry Sector Policy

2019-11-27 00:00:00
US Bancorp
2020-03-01
USA
2
2
-1
United States
Profile
Project
2
Company
1583017200
Last update: 2020-03-01
Explanation

US Bank prohibits project financing for the construction of oil pipelines, which includes tar sands pipelines. But the bank does not prohibit financing for any tar sands extraction projects which makes it a weak policy.

See: Banking on Climate Change - policy scores

Westpac Banking Corporation
2020-05-04
AUS
0
-1
Australia
Profile
Project
Company
1588543200
Last update: 2020-05-04
Explanation

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.

Relevant policies
csr policies
2020-05-04 00:00:00

Climate Change Position Statement and 2023 Action Plan

2020-05-04 00:00:00
Explanation

This table lists banks that have adopted a full ( ) or partial ( ) exclusion policy for tar sands projects and/or companies. Click on 'Details' for the rationale of this assessment for each bank.

 

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.

News

| |
Type:
Year:
blog
external news
our news

Barclays, HSBC and Credit Suisse among worst offenders on oil sands finance

ShareAction says Barclays has participated in 11 loan and bond deals to oil sands companies since its net zero announcement in March
2020-10-29 | London | ShareAction
blog
external news
our news

A call to action on the Principles for Responsible Banking: End climate-destructive financing now

2020-10-20 | BankTrack, Rainforest Action Network, and partners
blog
external news
our news

Indigenous Women Leaders warn global financial companies to stop support for tar sands oil

With key financial decision points looming on the Keystone XL, Line 3, and Trans Mountain pipelines, an open letter calls for policies respecting Indigenous rights and ruling out tar sands
2020-10-19 | First Peoples Worldwide, Giniw Collective, Honor the Earth, Indigenous Climate Action, Indigenous Environmental Network, Tiny House Warriors, Unist
blog
external news
our news

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
2020-09-22 | Nijmegen | BankTrack, Rainforest Action Network
blog
external news
our news

Deutsche Bank’s new policies: much needed movement, still a long way to Paris

2020-07-27 | Berlin, Frankfurt | urgewald
blog
external news
our news

Banking on Climate Change – Fossil Fuel Finance Report Card 2020

New report reveals global banks funneled USD 2.7 trillion into fossil fuels Since Paris Climate Agreement, with financing on the rise each year 
2020-03-18 | Nijmegen | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
blog
external news
our news

UniCredit urged to do the final ‘right thing’ and drop the coal barons

2019-11-27 | Rome, Italy | BankTrack, Re:Common
blog
external news
our news

HSBC's shift on energy lending has Suncor throwing its toys out of the pram

But new policy is no isolated move - finance for tar sands will dry up, just as it is doing for coal.
2018-08-09 | Ryan Brightwell – BankTrack
blog
external news
our news

Greenpeace block Barclays’ HQ over dirty oil pipeline funding

Greenpeace UK volunteers take over the main entrance to Barclays HQ in London to protest the bank’s refusal to stop funding tar sands pipelines
2018-07-19 | London
blog
external news
our news

HSBC moves on tar sands, but fails the coal test

2018-04-20 | Nijmegen, the Netherlands | BankTrack
blog
external news
our news

JPMorgan Facing Shareholder Backlash Over Oil Sands Financing

2018-03-23 | Bloomberg
blog
external news
our news

One Planet Summit: A round up of new fossil fuel policy announcements

2017-12-21 | Yann Louvel – BankTrack
blog
external news
our news

JPMorgan Chase and Wells Fargo Double Down on Support for Dirty Tar Sands Pipelines

2017-12-18 | San Francisco | Greenpeace, Rainforest Action Network, Sierra Club
blog
external news
our news

Big banks complicit in massive tar sands destruction and pollution through hundreds of billions in financing

2017-11-02 | Rainforest Action Network
blog
external news
our news

Banks warned of tar sands pipelines investment risks in new report

2017-10-31 | Greenpeace, Oil Change International
blog
external news
our news

BNP Paribas takes the global lead in excluding unconventional fossil fuels from portfolio

Other banks urged to follow suit, starting with the Equator banks
2017-10-12 | Nijmegen, Paris | BankTrack, Les Amis de la Terre
blog
external news
our news

Coalition Disrupts JPMorgan Chase Shareholders Meeting: Demand they Defund Tar Sands

2017-05-16 | Last Real Indian
blog
external news
our news

Rabobank, Storebrand Dump Fossil Fuel Companies

2013-07-08 | Environmental Leader
blog
external news
our news

Norwegian pension fund divests from ‘financially worthless’ fossil fuel firms

2013-07-05 | Blue and Green Tomorrow
blog
external news
our news

Katuah EF! Shuts Down TD Bank in Protest Against Keystone XL Pipeline

2013-03-22 | Katuah Earth First!
blog
external news
our news

Has RBS stopped financing the tar sands? (Spoiler: No).

2013-02-11 | Platform blog
blog
external news
our news

'Girl Band' Protest at Royal Bank of Scotland sponsored low carbon investment conference

2011-09-27 | Edinburgh | Friends of the Earth Scotland
blog
external news
our news

Canada, EU Spar Over Climate Rule

2011-09-20 | The Wall Street Journal - Europe
blog
external news
our news

1,252 arrested at White House pipeline protest

2011-09-03 | Climate and Capitalism
blog
external news
our news

Tar Sands and the Carbon Numbers

2011-08-21 | The New York Times
blog
external news
our news

Dozens arrested outside White House during oil sands protest

2011-08-21 | The Globe and Mail
blog
external news
our news

Canada to monitor tar sands, eyes key U.S. pipeline

2011-07-21 | Thomson Reuters
blog
external news
our news

Small First Nations EU Tour has big Impact on Investors, Shareholders, and Governments

2011-05-27 | Strasbourg, Paris, Amsterdam and Brussels | IEN, Friends of the Earth Europe and Les Amis de la Terre France
blog
external news
our news

First Nation Tour brings truth to France on Tar Sands Development

First Nation’s delegation spoke to EU parliamentary members, French government and French investors to address tar sands impacts on First Nation communities directly counteracting the Canadian Foreign Department’s platform on Tar Sands Development.
2011-05-20 | France | Indigenous Environmental Network - Les Amis de la Terre
blog
external news
our news

Texan Takes Fight Against Tar Sands Pipeline to Citigroup

2011-04-21 | RAN blog
blog
external news
our news

First Nations protest tar sands investment at Royal Bank of Scotland AGM

• New research shows that, since public bail-out in 2008, RBS has raised more than £5.6 billion for companies involved in controversial Canadian tar sands projects, £2.2 billion of which was in the last twelve months • Canadian First Nations representatives to voice opposition in person at RBS AGM
2011-04-19 | London | Platform
blog
external news
our news

RBS faces AGM protests over tar sands cash

2011-04-19 | The Independent
blog
external news
our news

RBS oil sands investments 'not sound', say greens

2011-04-19 | London | The Guardian
blog
external news
our news

US senator seeks FTC probe of proposed oil pipeline

2011-04-06 | Reuters
blog
external news
our news

Foes of Northern Gateway Pipeline target potential financial backers

2011-03-29 | The Globe and Mail
blog
external news
our news

Fund manager says Total ‘mistrusts’ tar sands debate as investors withdraw AGM resolution support

2011-03-29 | Responsible Investor
blog
external news
our news

No Consent? No Pipeline!

2011-03-25 | Vancouver Media Co-op
blog
external news
our news

Bank of Montreal Confronted on Indigenous Rights

2011-03-23 | RAN blog
blog
external news
our news

Madagascar Oil declares force majeure on oil blocks

2011-03-21 | Reuters
blog
external news
our news

Analysis: Foes fight Canada pipeline to rich Asia market

2011-02-17 | Reuters
blog
external news
our news

French oil giant Total facing investor resolution on tar sands

2011-02-09 | Responsible Investor
blog
external news
our news

Muck and brass

2011-01-20 | The Economist
blog
external news
our news

Stop Tar Sands trade talks

Trans-Atlantic civil society action targets Canada-Europe bilateral trade talks
2011-01-17 | Bruissels Belgium | Friends of the Earth Europe and partners
blog
external news
our news

Fraser River Indigenous Nations unite in opposition to Enbridge Pipeline Project

2011-01-06 | Common Ground
blog
external news
our news

Devastation, Madagascar

2010-12-27 | The Media Co-op
blog
external news
our news

RBC takes step away from tar sands

2010-12-23 | Canada | RAN
blog
external news
our news

Dutch unknowingly invest in extremely polluting oil production

2010-12-16 | Netherlands | Friends of the Earth Netherlands
blog
external news
our news

Madagascar Oil Sells $80 Million in Shares to Tap African Field

2010-11-08 | Bloomberg
blog
external news
our news

Banks grow wary of environmental risks

2010-08-31 | NY Times
blog
external news
our news

Decoding RBS Greenwash

2010-08-24 | RAN
blog
external news
our news

RBC tables an offer on tar sands

2010-07-12 | San Franscisco | Rainforest Action Network
blog
external news
our news

Shell faces shareholder questions on tar sands

2010-05-18 | The Hague | The Independent
blog
external news
our news

Tar sands crude is reaching British petrol stations, Greenpeace says

2010-05-10 | London | Guardian
blog
external news
our news

BLOG WDM: Meeting with Philip Hampton, Chairman of RBS about Canadian tar sands and Vedanta Resources

2010-04-30 | Edinburgh | World Development Movement
blog
external news
our news

Tar sands tailings leakage subject of NAFTA complaint

Federal government failing to enforce fisheries law, submission alleges
2010-04-26
blog
external news
our news

BP faces investor flak over Canada tar sands project

2010-04-26 | Canada | guardian.co.uk
blog
external news
our news

European commission draft document paves way for oil from tar sands in Europe

Citizen action launched as new legislation endangers efforts to tackle climate change
2010-03-29 | Brussels/London | Friends of the Earth Europe/ Fairpensions
blog
external news
our news

UK and North America groups slam British ‘tar sands’ bank opening in Calgary

Treasury grilled in UK Parliament over public money being used by Royal Bank of Scotland to support tar sands development
2010-03-17 | London | Platform
blog
external news
our news

Canada's First Nations peoples chastised Royal Bank of Canada (RY) for not doing enough to prevent

2010-03-04 | Toronto, Canada
blog
external news
our news

A fund for climate chaos: RBS investment in tar sand exploitation is a highly irresponsible use of public bailout money

2010-03-04 | guardian.co.uk
blog
external news
our news

RBS accused over funding for tar sands 'blood oil'

2010-03-02 | London | The Independent
blog
external news
our news

UK Taxpayers' money involved in financing controversial tar sands companies

Cashing in on Tar Sands: RBS, UK banks and Canada’s “blood oil”
2010-03-01 | London | Platform
blog
external news
our news

Royal Bank of Canada wins award for “most environmentally irresponsible company” at Davos

Tar sands financing causes global embarrassment for nation’s largest bank
2010-01-27 | Davos, Switzerland | Rainforest Action Network
blog
external news
our news

Canada failing on warming

2009-12-29 | Times Colonist (Victoria)
blog
external news
our news

BankTrack calls upon banks to help fight runaway climate change

New position paper outlines hard choices banks must make if they wish to be part of the solution to the climate crisis
2009-12-10 | Nijmegen, Netherlands | BankTrack
blog
external news
our news

UK taxpayers are funding the destruction of my homeland

2009-11-29 | guardian.co.uk
blog
external news
our news

Indigenous Canadians deliver message to RBS and the Treasury: “Stop funding bloody oil!”

New research shows that publicly-owned RBS is the UK bank most heavily involved in financing the Tar Sands
2009-11-16 | London | Rainforest Action Network
blog
external news
our news

Canadian protest over RBS oil sands role

By Ed Crooks, Energy Editor Financial Times
2009-11-16 | London
blog
external news
our news

MEPs appeal to companies to stop tar sand business

2009-11-11
blog
external news
our news

Eni's new energy projects threaten Congo Rainforest

Research about Eni’s investments in tar sands and palm oil in the Congo basin
2009-11-09 | Rome, Italy | CRBM
blog
external news
our news

Die-In at Royal Bank of Canada Includes 100 Protesters Who Oppose the Bank’s Involvement In the Tar Sands

2009-10-27 | Ottawa, Canada
blog
external news
our news

Unlikely appeal to RBC first lady, Mrs. Janet Nixon, highlights bank’s involvement in tar sands

Rainforest Action Network scales 50' flagpole at RBC headquarters; asking for help from CEO's wife to stop expansion of destructive tar sands projects
2009-07-28 | Toronto | Rainforest Action Network
blog
external news
our news

Greenpeace vs the Alberta Oilsands

2009-04-11 | The Phoenix
blog
external news
our news

Unconventional oil could cost us the earth

New report shows that oil sands threaten climate change
2008-07-31 | London | WWF UK

Documents

Type:
Year:
ngo documents
2020-11-11 00:00:00

Barclays’ and HSBC’s $43 billion fossil fuel problem

2020-11-11 00:00:00 | Fund Our Future UK
ngo documents
2020-10-31 00:00:00

High Risk, Low Reward

An overview of European banks' position on oil sands
2020-10-31 00:00:00 | ShareAction
our publications
2020-10-20 00:00:00

A Call to Action on the Principles for Responsible Banking: End Climate-Destructive Financing Now

Joint civil society statement
2020-10-20 00:00:00 | BankTrack, Rainforest Action Network, and others
our publications
2020-03-18 00:00:00

Banking on Climate Change - Fossil Fuel Finance Report 2020

2020-03-18 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club
our publications
2020-03-18 00:00:00

Banking on Climate Change - Fossil Finance Report Card 2020 [Excel sheet]

Excel sheet with detailed bank policy scores
2020-03-18 00:00:00 | BankTrack, Rainforest Action Network, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club
our publications
2019-03-20 00:00:00

Banking on Climate Change 2019

2019 Fossil Fuel Finance Report Card
2019-03-20 00:00:00 | BankTrack, Honor the Earth, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Sierra Club.
ngo documents
2017-09-25 00:00:00

Banks: High Carbon, Hidden Risks

2017-09-25 00:00:00 | Rainforest Action Network
our publications
2017-06-21 00:00:00

Banking on Climate Change 2017

Fossil Fuel Finance Report Card 2017
2017-06-21 00:00:00 | Rainforest Action Network, BankTrack, Sierra Club, Oil Change International
our publications
2017-05-04 00:00:00

UBS Fossil Bank Briefing 2017

2017-05-04 00:00:00 | BankTrack, Greenpeace, Waterkeeper Alliance
our publications
2017-04-28 00:00:00

Credit Suisse Fossil Bank Briefing 2017

2017-04-28 00:00:00 | BankTrack and Greenpeace
our publications
2016-06-14 00:00:00

Shorting the Climate

Fossil Fuel Finance Report Card 2016
2016-06-14 00:00:00 | BankTrack, Rainforest Action Network, Sierra Club and Oil Change International
ngo documents
2015-10-05 00:00:00

Financing Climate Chaos

How Minnesota’s Banking Giants Prioritize Profit in the Face of Climate Change
2015-10-05 00:00:00 | MN 350
ngo documents
2011-05-30 00:00:00

Marginal Oil : What is driving oil companies dirtier and deeper?

2011-05-30 00:00:00 | Friends of the Earth Europe, Heinrich Böll Stiftung
ngo documents
2011-04-14 00:00:00

A Risky Business: Tar Sands, Indigenous Rights and RBS

2011-04-14 00:00:00 | Canadian Indigenous Tar Sands Campaign and UK Tar Sands Network
other documents
2011-02-08 00:00:00

Government fiction vs Tar Sands FACTS

2011-02-08 00:00:00 | Greenpeace
ngo documents
2010-12-09 00:00:00

Beleggingen pensioenfondsen in olie en teerzanden

2010-12-09 00:00:00 | Milieudefensie
ngo documents
2010-07-01 00:00:00

Toxic fuels: toxic investments - Why we need mandatory greenhouse gas reporting

2010-07-01 00:00:00 | WWF-UK and the Co-operative
ngo documents
2010-06-02 00:00:00

Bankers on Tenterhooks

Climate change: co-funded by banks operating in Belgium
2010-06-02 00:00:00 | Netwerk Vlaanderen
ngo documents
2010-05-05 00:00:00

Tar sands: Fuelling the climate crisis, undermining EU energy security and damaging development objectives

2010-05-05 00:00:00 | Friend of the Earth Europe
ngo documents
2010-03-01 00:00:00

Cashing in on tar sands, RBS, UK banks and Canada’s “blood oil”

2010-03-01 00:00:00 | Platform et al.
ngo documents
2009-07-01 00:00:00

Shifting Sands: How a changing economy could bury the tar sands industry

2009-07-01 00:00:00 | Platform et al.
ngo documents
2008-11-19 00:00:00

Financing Global Warming: Canadian Banks and Fossil Fuels

2008-11-19 00:00:00 | RAN
ngo documents
2008-09-01 00:00:00

BP and Shell: rising risks in tar sands investments

2008-09-01 00:00:00 | Platform et al.
ngo documents
2008-07-28 00:00:00

Unconventional Oil - Scraping the bottom of the barrel

2008-07-28 00:00:00 | WWF-UK and the Co-operative

Media

Oil sands - Alberta, Canada

The boreal forest is habitat to the caribou and also a valuable carbon store Open cast extraction of oil sands Oil sands means destruction of ecosystems on a vast scale In situ extraction requires more energy and water, and still fragments the forest 400 tonne trucks extract ferry the oil sands from the mine Huge 50 sq km tailings ponds are toxic liabilities Processing plants are adjacent to the River Athabasca. The McClelland Fen is a unique patterned wetland vital for migratory birds which is under threat from oil sands expansion Indigenous First Nations communities are concerned over the impacts of toxins on fish and water quailty following high rates of rare cancers The greenhouse gas emissions from oil sands are the fastest growing contributor to Canada failing to meet its Kyoto targets









Links

New film: Tar sands – to the ends of the earth

The documentary shows how Madagascar's rural population and its fragile eco-system will be devastated if oil companies start exploiting tar sands in the country. The film documents campaigners from Friends of the Earth Europe, USA and Madagascar travelling to Canada to witness the devastating impact that tar sands are having in the only country where they are currently commercially exploited.

http://www.foeeurope.org/tar-sands-ends-of-earth-film-170613
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