All existing clients in the utilities sector should have reduced their reliance on thermal coal to close to zero by the end of 2025 for us to continue the relationship beyond that time.

Policy December 2017

The Group is committed to progressively reduce to zero its exposure to the thermal coal sector, at the latest in 2030 for companies with thermal coal assets located in EU or OECD countries and2040 elsewhere.

The exposure of our portfolios to coal industry will be in line with a full-fledged coal phase-out by: 2030 for EU and OECD countries; 2040 for China; 2050 for the rest of the world.

PR 13/06/19

We ensure our business lending policies support the responsible transition to a net zero emissions economy by 2050, by:

- continuing to reduce our exposures to coal fired power generation, with the view to exiting the sector by 2030, subject to Australia having a secure energy platform.

Policy July 2019

Acceptance criteria for energy utility companies :

2. The company does not operate lignite electricity generation capacity or has a lignite phase-out strategy in place.
3. The share of coal-fired electricity generation capacity in the company’s energy mix meets the following criteria:
o Coal fired electricity generation capacity does not exceed 50% of the company’s total electricity generation capacity.

Policy May 2017

We only support financing transactions of existing coal ­fired operators (>30% coal reliance) who have a transition strategy in place that aligns with a pathway under the Paris Agreement, or the transaction is related to renewable energy.

Policy March 2019

Prohibited Activities

Clients

Significant coal-based power generation (more than 35%) without a diversification strategy

Exceptions may be made in countries with high energy dependency (more than 65% energy imported) or without viable alternatives.

Policy March 2019

General corporate lending

Prohibited

Electricity Generation companies whereby more than 40% of their unabated power generated derives from coal (based on Terawatt Hours of power generated), except where an existing customer is demonstrating a clear transition towards this threshold.

Policy May 2018

As of 2019, Credit Agricole will no longer develop business relations with corporations generating more than 25% of their turnover in the thermal coal sector (coal-based production).

PR 13/06/19

Natixis does not participate in any general purpose financing in favor of a borrower whose activity is relying by 25% or more on coal-fired power generation (based on the latest published financial statements).

Natixis does not participatein bond or equity primary issues, if the issuing company’s activity is relying by 25% or more on coal-fired power generation (based on the latest published financial statements).

Policy July 2019

Societe Generale refrains from providing new financial products and services to:

• all companies which have more than 50% of their revenue linked to the power sector and have more than 50% of their power capacity fuelled by coal;
• have more than 50% of their revenue linked to the power sector and between 30% and 50% of their power capacity fueled by coal. which either:
  • have plans to expand their coal-fuelled power infrastructure;
  • do not have an explicit corporate strategy consistent with having less than 50% of their revenue linked to the power sector or more than 50% but less than 30% of their power capacity fueled by coal, by 2025.

Policy July 2019

For integrated energy companies, KBC will continue to provide finance, provided they raise no more than 50% of their turnover from coal-related activities or demonstrate they will become compliant within a short timeframe.

Policy September 2016

Commerzbank expects clients in Germany from the energy supply sector to limit the share of electricity generated from coal (based on their production performance) to below 30 per cent by the end of 2021.  A corresponding cap of 50 per cent is expected for clients based outside of Germany.

Position July 2016, Policy March 2018

This policy covers:

• Coal-Fired Power Generation (CFPG) companies: utility companies involved in the power generation sector that owns or operates CFPPs and for which coal-fired power accounts for at least 30% of their total installed power generation capacity.

BNP Paribas will only provide financial products and services to, or invest in, CFPG companies that meet the following requirements:

The CFPG company has a diversification strategy to reduce the share of coal in its power generation mix. This diversification strategy must be at least as ambitious as the national commitment to limit GHG emissions of the country where its principal operations are located.

Policy December 2015

Societe Generale is committed to limit the coal-fuelled part of its financed energy mix (installed MW) at 19% at the end of 2020, in consistency with the IEA 2°C scenario.

Policy January 2017
 

In addition to the individual company criteria, ABN AMRO is committed to align its lending portfolio with the “450 scenario” of the International Energy Agency (IEA). This scenario is the outcome of calculations by the IEA of the mix of electricity generation capacity from different power sources that is needed to limit the increase in global average temperature to 2°C. Using the IEA projections for 2020 as a baseline, this means that in the period 2019-2020 the mix of electricity generation capacity of ABN AMRO’s lending portfolio of companies and projects in the electricity generation sector meets the following criteria:
o maximum 28% of lending exposure is directed to coal-fired electricity generation capacity

Policy May 2017

Statement April 2018