Total: 12 points out of 32

4 points for a moderate exclusion of coal power projects: ABN AMRO prohibits direct finance for new coal-fired power plants.

4 points for a weak exclusion of companies expanding coal power (coal power developers): ABN AMRO requires utility clients to commit not to increase coal-fired electricity generation capacity. But the policy applies only to utilities, and many companies building new coal-fired power are not traditional utilities.

1 point for the commitment to proportionally reduce exposure to coal power companies: ABN AMRO has committed to reduce the share of coal in the mix of electricity generation capacity of its lending portfolio of companies and projects in the power generation sector, but has no explicit commitment to phase out financing for coal power companies.

3 points for a weak exclusion threshold for coal power companies: ABN AMRO prohibits financing for companies with greater than 50% power generation capacity from coal, with additional restrictions on companies between 30 and 50%.

See: Banking on Climate Change - policy scores

Total: 0 points out of 32

See: Banking on Climate Change - policy scores

Total: 10.5 points out of 32

6 points for a moderate exclusion of coal power projects: ANZ will not directly finance any new coal-fired power plants, or expansions.

1.5 points for the commitment to reduce exposure to coal power companies: ANZ will limit finance to existing customers who have more than 50% thermal coal exposure if they do not have a diversification strategy by 2025, and the bank will reduce their exposure over time. By 2030, the exposure threshold for companies will be reduced to 25%. 

3 points for a weak exclusion threshold for coal power companies: ANZ prohibits lending to new coal power clients with material thermal coal exposures, meaning more than 10%.

See: Banking on Climate Change - policy scores

Total: 2.5 points out of 32

2 point for a weak exclusion of coal power projects: Bank of America prohibits direct financing for "the construction of new coal-fired power plants in developed countries, unless those facilities employ technology that is focused on complete or near elimination of atmospheric carbon emissions, such as carbon capture technology."

0.5 point for enhanced due diligence regarding coal power companies: Bank of America conducts enhanced due diligence for coal power plants in developing countries.

See: Banking on Climate Change - policy scores

Total: 0 points out of 32

See: Banking on Climate Change - policy scores

Total: 0 points out of 32

See: Banking on Climate Change - policy scores

Total: 12 points out of 32

6 points for a strong exclusion of coal power projects: Barclays prohibits financing for coal-fired power plants around the world.

3 points for the commitment to reduce finance for regarding coal power companies: From 2020 onwards, Barclays will not provide any financing to clients that generate more than 50% of revenue from thermal coal activities (mining and/or coal fired power generation); By 2025, Barclays will no longer provide any financing to clients that generate more than 30% of revenue from thermal coal activities; By 2030, Barclays will no longer provide any financing to clients that generate more than 10% of revenue from thermal coal activities.

3 points for a weak exclusion threshold regarding coal power companies: Barclays will not provide any financing to clients that generate more than 50% of revenue from thermal coal activities (mining and/or coal fired power generation).

See: Banking on Climate Change - policy scores

Total: 13 points out of 32

4 points for a moderate exclusion of coal power projects: BBVA prohibits direct financing for new coal plants and coal plant expansions, but allows exceptions for countries with high levels of imported energy.

4 points for a weak exclusion of companies expanding coal power (coal power developers): BBVA prohibits financing of clients that are expanding coal-fired power generation capacity, but allows exceptions for countries with high levels of energy imports.

5 points for a moderate exclusion threshold for coal power companies: BBVA prohibits financing companies with more than 35% of their power generation capacity from coal, but allows exceptions for countries with high levels of imported energy.

See: Banking on Climate Change - policy scores

Total: 25 points out of 32

6 points for a strong exclusion of coal power projects: BNP Paribas prohibits financing for coal-fired power plant projects, regardless of location.

8 points for a strong exclusion of companies expanding coal power (coal power developers): BNP Paribas will not provide financial products and services to power generation companies that add operational coal-fired power generation to its power portfolio.

8 points for a strong phase-out commitment regarding coal power companies: BNP Paribas does not provide any financial products or services to coal power companies that do not have a strategy to exit from thermal coal activities by 2030 for European Union and OECD countries and 2040 for the rest of the world. 

3 points for a weak exclusion threshold for coal power companies: BNP Paribas will not provide financial products and services to power generation companies that do not have ''a strategy to reduce coal power generation in its mix under a regularly monitored plan including a timeline, which will result in no longer owning or operating coal fired power generation capacities by 2030 in the European Union and OECD countries, and by 2040 in the rest of the world''.

See: Banking on Climate Change - policy scores

Total: 0 points out of 32

See: Banking on Climate Change - policy scores

Total: 4 points out of 32

4 points for a moderate exclusion of coal power projects: CIBC will limit support for practices such as the construction of new coal-fired power plants.

See: Banking on Climate Change - policy scores

Total: 6.5 points out of 32

6 points for a strong exclusion of coal power projects: Citigroup provides no project-related financing for new coal-fired power plants or expansions of existing plants (Citi’s previous commitment allowed for exceptions; these loopholes have been closed in this policy update).

0.5 point for enhanced due diligence regarding coal power companies: Citi conducts corporate-level enhanced due diligence for "power sector clients with coal-fired power generation."

See: Banking on Climate Change - policy scores

Total: 7 points out of 32

4 points for a moderate exclusion of coal power projects: Commerzbank prohibits direct finance for new coal-fired power plants, with possible exceptions.

3 points for a weak exclusion threshold for coal power companies: Beginning in 2021 Commerzbank will prohibit financing for German companies with more than 30% of power production from coal. For companies based outside Germany, the threshold will be 50%.

See: Banking on Climate Change - policy scores

Total: 6 points out of 32

6 points for a moderate phase-out commitment regarding coal power companies: Commonwealth Bank commits to reduce its exposure to coal power, with the view to exiting the sector by 2030.

See: Banking on Climate Change - policy scores

Total: 27 points out of 32

6 points for a strong exclusion of coal power projects: Crédit Agricole prohibits financing for new coal plants and existing coal plants.

8 points for a strong exclusion of companies expanding coal power (coal power developers): Crédit Agricole prohibits financing to coal plant developers starting in 2021.

8 points for a strong phase-out commitment regarding coal power companies: Crédit Agricole has committed to a full-fledged coal phase-out by 2030 for EU and OECD countries and 2040 for China. It requires from its clients a coal phase-out plan aligned with theses dates to continue to receive financial support from the bank starting in 2021.

5 points for a moderate exclusion threshold for coal power companies: Crédit Agricole prohibits financing to coal power companies with more than 25% of revenue from coal if they don't have a coal phase-out plan by 2021.

See: Banking on Climate Change - policy scores

Total: 30 points out of 32

6 points for a strong exclusion of coal power projects: Crédit Mutuel prohibits financing for greenfield or brownfield coal-fired power plants.

8 points for a strong exclusion of companies expanding coal power (coal power developers): Crédit Mutuel prohibits financing for all coal plant developers.

8 points for a strong phase-out commitment regarding coal power companies: Crédit Mutuel committed to a full coal phase-out by 2030. It requires its clients to have by 2021 a coal phase-out plan to close their coal assets by 2030 in order to continue to receive financial support from the bank.

8 points for a strong exclusion threshold for coal power companies: Crédit Mutuel prohibits financing of companies with more than 20% of energy production coming from coal, and companies with more than 5GW of coal capacity.

See: Banking on Climate Change - policy scores

Total: 7 points out of 32

4 points for a moderate exclusion of coal power projects: Credit Suisse prohibits direct finance for new coal-fired power plants.

3 points for a weak exclusion threshold regarding coal power companies: Credit Suisse will not provide finance or underwriting to coal power companies that derive more than 25% of its revenue from coal power generation. However, the bank makes an exception for companies that can demonstrate a decreasing share of coal in its power generation portfolio or that has a credible transition strategy to a lower carbon business model and where the transaction proceeds make a material contribution to this transition.

See: Banking on Climate Change - policy scores

Total: 4.5 points out of 32

4 points for a moderate exclusion of coal power projects: DBS prohibits financing for new coal-fired power plants.

0.5 point for enhanced due diligence regarding coal power companies: DBS performs enhanced due diligence on coal power companies by checking for a diversification strategy.

See: Banking on Climate Change - policy scores

Total: 10.5 points out of 32

6 points for a strong exclusion of coal power projects: Deutsche Bank prohibits financing for new coal-fired power plants and the expansion of existing plants, regardless of location.

1.5 points for the commitment to reduce exposure to coal power companies: Deutsche Bank will review all its coal power clients in Europe and US until year-end 2020 and gradually phase out existing exposure if there are no diversification plans in place. Starting in 2022, the bank will extend this review and phase out Asia and selected developing markets.

3 points for a weak exclusion threshold regarding coal power companies: For all clients depending more than 50% on coal power – be it energy capacity or energy output – Deutsche Bank will subject the provision of financial services to the availability of credible diversification plans.

See: Banking on Climate Change - policy scores

Total: 6.5 points out of 32

6 points for a strong exclusion of coal power projects: Goldman Sachs's prohibition on financing for "new coal fired power generation" covers both new plants and expansions of existing plants.

0.5 point for enhanced due diligence regarding coal power companies: Goldman Sachs conducts enhanced due diligence "for financings involving any power sector companies that derive a significant portion of their generation from coal."

See: Banking on Climate Change - policy scores

Total: 4.5 points out of 32

4 points for a moderate exclusion of coal power projects: HSBC will not finance any new coal-fired power plants anywhere globally.

0.5 point for enhanced due diligence regarding coal power companies: HSBC has enhanced due diligence for coal power.

See: Banking on Climate Change - policy scores

Total: 0 points out of 32

See: Banking on Climate Change - policy scores

Total: 13 points out of 32

4 points for a moderate exclusion of coal power projects: ING prohibits financing for new coal plants.

6 points for a moderate phase-out commitment regarding coal power companies: ING has committed to phase out its financing for coal mining by 2025, but it does not exclude any coal developers.

3 points for a weak exclusion threshold for coal power companies: ING prohibits financing for "new clients whose gross revenue is > 10% reliant on operating coal-fired power plants," and "new clients whose reliance on coal is ≤ 10% should have a strategy to reduce this percentage to ≤ 5% by 2025." But this low threshold only applies to new clients; for existing clients, a 30% threshold is used, with the potential for exceptions.

See: Banking on Climate Change - policy scores

Total: 7 points out of 32

4 points for a moderate exclusion of coal power projects: Intesa Sanpaolo will not provide finance for new coal fired power plants. Expansion is not mentioned in this policy. Intesa Sanpaolo will restrict project finance for the acquisition of coal fired power plants already in operation if this results in a coal related installed capacity of more than 30% on the total installed capacity for companies based in OECD countries and 50% for companies based in non-OECD countries.

3 points for a weak exclusion threshold for coal power companies: Intesa Sanpaolo will not provide any new general purpose finance to companies ''with more than 50% or 30% of installed capacity for the production of energy from coal - respectively for companies based in non-OECD and OECD countries - unless the company demonstrates a documented medium/long-term plan/strategy for the progressive reduction of the use of coal and its threshold and/or requests financing directly related to the coal transition objectives, for example in the form of a “green loan”, “sustainable loan” or “transition loan”''

See: Banking on Climate Change - policy scores

Total: 5.5 points out of 32

4 points for a moderate exclusion of coal power projects: JPMorgan Chase prohibits direct financing for the new coal power plants or refinancing of existing coal plants, with potential exceptions for plants that use CCS.

1 point for the commitment to proportionally reduce exposure to coal power companies: JPMorgan Chase "expects that the proportion of coal-fired technology contained in power generation portfolios financed by the firm will continue to decline."

0.5 point for enhanced due diligence regarding coal power companies: JPMorgan Chase conducts enhanced due diligence for "non-prohibited transactions involving coal-fired power generation."

See: Banking on Climate Change - policy scores

Total: 3.5 points out of 32

2 points for a weak exclusion of coal power projects: MUFG prohibits financing for new coal-fired power projects, with significant room for exceptions concerning host country policies, international standards and available technology.

1 point for the commitment to proportionally reduce exposure to coal power companies: MUFG anticipates reducing the balance of its exposure to coal power projects in the medium- and long-term.

0.5 point for enhanced due diligence regarding coal power companies: MUFG conducts enhanced due diligence for coal power companies.

See: Banking on Climate Change - policy scores

Total: 2.5 points out of 32

2 points for a weak exclusion of coal power projects: Mizuho will not finance new coal power plants, except projects already committed to before June 2020; or replacements leading to CO2 reduction where it is also deemed necessary for stable energy supply in the host country.

0.5 point for enhanced due diligence regarding coal power companies: Mizuho conducts enhanced due diligence on coal power companies.

See: Banking on Climate Change - policy scores

Total: 7.5 points out of 32

6 points for a strong exclusion of coal power projects: Morgan Stanley will decline financing transactions globally that directly support the development of new or physical expansions of coal-fired power generation, unless there is carbon capture and storage or equivalent carbon emissions reduction technology.

1 point for the commitment to proportionally reduce exposure to coal power companies: Morgan Stanley says it is "seeking to reduce the proportion of our energy financing to coal mining and coal fired power generation."

0.5 point for enhanced due diligence regarding coal power companies: Morgan Stanley conducts enhanced due diligence on transactions involving coal-fired power generation.

See: Banking on Climate Change - policy scores

Total: 6.5 points out of 32

6 points for a strong exclusion of coal power projects: NAB prohibits financing for new or expanded coal-fired power plants.

0.5 point for enhanced due diligence regarding coal power companies: NAB conducts enhanced due diligence for coal power clients.

See: Banking on Climate Change - policy scores

Total: 30 points out of 32

6 points for a strong exclusion of coal power projects: BPCE/Natixis prohibits financing for greenfield or brownfield coal-fired power plants, and restricts financing for the acquisition of coal-fired power plants.

8 points for a strong exclusion of companies expanding coal power (coal power developers): BPCE/Natixis will no longer support companies that develop new capacity in coal-powered electricity generation or thermal coal mining.

8 points for a strong phase-out commitment regarding coal power companies: BPCE/Natixis commits to fully withdraw from the thermal coal sector by 2030 for EU and OECD countries, and 2040 for the rest of the world. Companies must have provided or have ensured to provide by the end of 2021 a transition plan to fully withdrawal from thermal coal by 2030/2040.

8 points for a strong exclusion threshold for coal power companies: BPCE/Natixis prohibits financing for companies whose activity is greater than 25% coal power (measured in revenues).

See: Banking on Climate Change - policy scores

Total: 20 points out of 32

4 points for a moderate exclusion of coal power projects: RBS prohibits lending for "the construction of new unabated coal power stations."

8 points for a strong phase-out commitment of coal power companies: RBS has committed to end financing for "companies where more than 15% of activities related to coal, unless they have a credible transition plan in line with the 2015 Paris Agreement by end of 2021" and complete a "full phase-out from coal by 2030." This applies to thermal and lignite coal mining and covers lending and underwriting.

8 points for a strong exclusion threshold for coal power companies: RBS prohibits financing for "companies where more than 15% of activities related to coal, unless they have a credible transition plan in line with the 2015 Paris Agreement by end of 2021." This applies to coal power generation.

See: Banking on Climate Change - policy scores

Total: 6 points out of 32

6 points for a strong exclusion of coal power projects: OCBC prohibits new financing for all coal plants.

See: Banking on Climate Change - policy scores

Total: 6 points out of 32

6 points for a strong exclusion of coal power projects: PNC "prohibit[s] construction financing of all single-site coal-fired power plants."

See: Banking on Climate Change - policy scores

Total: 8.5 points out of 32

4 points for a moderate exclusion of coal power projects: RBC will not finance transactions where the proceeds will be primarily used to develop a new greenfield coal-fired power plant.  

1.5 points for the commitment to reduce exposure to coal mining companies: RBC will track and monitor its credit exposure to coal power generation and endeavor to reduce it over time. There is no specific deadline or timeline mentioned.

3 points for a weak exclusion threshold for coal power companies: RBC will not provide financing to new clients that operate significant coal power generation assets (>60% generation, Megawatts per hour (MwH). RBC will provide financing to new clients that operate some coal power generation assets (≤60% generation, MwH) if the client can provide clear evidence that they are reducing their use of coal (e.g. diversifying, retiring assets); and/or reducing their GHG emissions; and/or converting to high-efficiency low emissions technologies. There are no exclusions for existing clients. 

See: Banking on Climate Change - policy scores

Total: 7 points out of 32

4 points for a moderate exclusion of coal power projects: Santander prohibits financing for new coal plant projects worldwide.

3 points for a weak exclusion threshold for coal power companies: Santander prohibits financing for "new clients with coal-fired power plants worldwide." Exclusions that apply to new clients only are restricted to the "weak exclusion" category.

See: Banking on Climate Change - policy scores

Total: 0 points out of 32

See: Banking on Climate Change - policy scores

Total: 27 points out of 32

6 points for a strong exclusion of coal power projects: Société Générale prohibits financing for all coal power plants.

8 points for a strong exclusion of companies expanding coal power (coal power developers): Société Générale will refrain from providing finance to companies of the thermal coal sector developing, or planning to develop, new thermal coal mines, new coal-fuelled power capacities strictly above 300 MW or new transportation projects dedicated to thermal coal. For this policy commitment, the majority owners of the asset are considered.

8 points for a strong phase-out commitment regarding coal power companies: Société Générale has committed to zero out its exposure to the thermal coal sector by "2030 for companies with mining or power production thermal coal assets located in the EU or OECD countries and 2040 companies holding such assets elsewhere."

5 points for a moderate exclusion threshold for coal power companies: Société Générale will not finance new companies that are generating over 25% of their revenues in the thermal coal sector or that do not have a transition plan aligned with the 2030/2040 coal phase-out objectives of Société Générale. Furthermore, the bank will not provide new financial products and services to existing clients that generate over 25% of their revenues in the thermal coal sector and do not have a time-bound transition plan to exit. From the end of 2021 onwards, the bank will not provide new finance to any company that does not have a transition plan aligned with the 2030/2040 coal phase-out objectives of the bank.

See: Banking on Climate Change - policy scores

Total: 9 points out of 32

6 points for a strong exclusion of coal power projects: Standard Chartered prohibits financing new coal plants and their expansions worldwide. This prohibition was recently extended to projects that had previously been "grandfathered" in and so were still eligible to receive financing.

3 points for the commitment to reduce financing to coal power companies: Standard Chartered's coal phase-out plan includes a staged phase-out of coal companies, starting with those that are most involved with coal. By 2030, Standard Chartered will only support clients that are <10% dependent on earnings from thermal coal -- however this approach does not commit the bank to phasing out support for ALL companies dependent on thermal coal.

See: Banking on Climate Change - policy scores

Total: 2.5 points out of 32

2 points for a weak exclusion of coal power projects: SMBC prohibits financing for newly planned coal-fired power plants that are not ultra-supercritical.

0.5 point for enhanced due diligence regarding coal power companies: SMBC conducts enhanced due diligence on coal power companies.

See: Banking on Climate Change - policy scores

Total: 0.5 point out of 32

0.5 point for enhanced due diligence regarding coal power companies: TD conducts enhanced due diligence for the thermal power sector.

See: Banking on Climate Change - policy scores

Total: 9 points out of 32

4 points for a moderate exclusion of coal power projects: UBS prohibits financing for new coal plants globally.

5 points for a moderate exclusion threshold for coal power companies: UBS prohibits financing for coal power operators that are more than >30% reliant on coal, unless they "have a transition strategy in place that aligns with a pathway under the Paris Agreement, or the transaction is related to renewable energy."

See: Banking on Climate Change - policy scores

Total: 30 points out of 32

6 points for a strong exclusion of coal power projects: UniCredit excludes all types of banking services aimed at a coal-related project activity, regardless of any other consideration. This includes finance for new coal plants, existing coal plants and the expansion of coal plants.

8 points for a strong exclusion of companies expanding coal power (coal power developers): UniCredit does not provide any financial services to coal-related subjects (defined as all the companies/subjects operating in coal-fired power generation area + the thermal coal mining area) that expand the coal business (e.g. by expanding existing coal capacity or buying/building new production sites).

8 points for a strong phase-out commitment: UniCredit is committed to reduce its exposure to the coal sector to zero by 2028 globally.

8 points for a strong exclusion threshold for coal power companies: UniCredit will not provide any banking services to coal-related subjects (including subsidiaries) that get more than 25% of their current revenues in the coal business. From end 2021 onwards, companies also need to have a credible plan in place phasing out their coal business by 2028.

See: Banking on Climate Change - policy scores

Total: 6 points out of 32

6 points for a strong exclusion of coal power projects: UOB prohibits new financing for all coal plants, and reports that it "has not financed such projects since January 2018."

See: Banking on Climate Change - policy scores

Total: 6.5 points out of 32

6 points for a strong exclusion of coal power projects: US Bank prohibits financing for all coal plants.

0.5 point for enhanced due diligence regarding coal power companies: US Bank has enhanced due diligence for electric power generation, specifically including coal.

See: Banking on Climate Change - policy scores

Total: 0.5 point out of 32

0.5 point for enhanced due diligence regarding coal power companies: Wells Fargo conducts enhanced due diligence for "power and utilities transactions."

See: Banking on Climate Change - policy scores

Total: 3.5 points out of 32

2 points for a weak exclusion of coal power projects: Westpac prohibits financing for new power generation unless it reduces the emissions intensity of the grid in which the generator operates.

1.5 points for the commitment to reduce exposure to coal power companies: Westpac commits to ensure its financing supports Paris-aligned transition pathways to a net zero emissions economy by 2050 including by reducing the emissions intensity of its exposure in line with the following targets: 0.23t CO2e/MWh by 2025; and 0.18t CO2e/MWh by 2030’.

See: Banking on Climate Change - policy scores

ABN AMRO prohibits direct finance for new coal-fired power plants.

ABN AMRO prohibits financing for companies with greater than 50% power generation capacity from coal, with additional restrictions on companies between 30 and 50%.

See: Banking on Climate Change - policy scores

ANZ will not directly finance any new coal-fired power plants, or expansions.

ANZ prohibits lending to new clients whose thermal coal assets exceed 10% of revenue, installed capacity, or generation.

See: Banking on Climate Change - policy scores

Bank of America prohibits direct financing for "the construction of new coal-fired power plants in developed countries, unless those facilities employ technology that is focused on complete or near elimination of atmospheric carbon emissions, such as carbon capture technology."

See: Banking on Climate Change - policy scores

Barclays prohibits financing for coal-fired power plants around the world.

Barclays will not provide any financing to clients that generate more than 50% of revenue from thermal coal activities (mining and/or coal fired power generation).

See: Banking on Climate Change - policy scores

BBVA prohibits direct financing for new coal plants and coal plant expansions, but allows exceptions for countries with high levels of imported energy.

BBVA prohibits financing of clients that are expanding coal-fired power generation capacity, but allows exceptions for countries with high levels of energy imports.

It further prohibits financing companies with more than 35% of their power generation capacity from coal, but allows exceptions for countries with high levels of imported energy.

See: Banking on Climate Change - policy scores

BNP Paribas prohibits financing for coal-fired power plant projects, regardless of location.

BNP Paribas will not provide financial products and services to power generation companies that add operational coal-fired power generation to its power portfolio.

BNP Paribas will not provide financial products and services to power generation companies that do not have ''a strategy to reduce coal power generation in its mix under a regularly monitored plan including a timeline, which will result in no longer owning or operating coal fired power generation capacities by 2030 in the European Union and OECD countries, and by 2040 in the rest of the world''.

See: Banking on Climate Change - policy scores

CIBC will limit support for practices such as the construction of new coal-fired power plants.

Citigroup provides no project-related financing for new coal-fired power plants or expansions of existing plants.

See: Banking on Climate Change - policy scores

Commerzbank prohibits direct finance for new coal-fired power plants, with possible exceptions.

Beginning in 2021 Commerzbank will prohibit financing for German companies with more than 30% of power production from coal. For companies based outside Germany, the threshold will be 50%.

See: Banking on Climate Change - policy scores

Crédit Agricole prohibits financing for new coal plants and existing coal plants.

Crédit Agricole prohibits financing to coal plant developers starting in 2021 and it prohibits financing to coal power companies with more than 25% of revenue from coal if they don't have a coal phase-out plan by 2021.

See: Banking on Climate Change - policy scores

Crédit Mutuel prohibits financing for greenfield or brownfield coal-fired power plants.

Crédit Mutuel prohibits financing for all coal plant developers and companies with more than 20% of energy production coming from coal, and companies with more than 5GW of coal capacity.

See: Banking on Climate Change - policy scores

Credit Suisse prohibits direct finance for new coal-fired power plants.

Credit Suisse will not provide finance or underwriting to coal power companies that derive more than 25% of its revenue from coal power generation. However, the bank makes an exception for companies that can demonstrate a decreasing share of coal in its power generation portfolio or that has a credible transition strategy to a lower carbon business model and where the transaction proceeds make a material contribution to this transition.

See: Banking on Climate Change - policy scores

DBS prohibits financing for new coal-fired power plants.

See: Banking on Climate Change - policy scores

Deutsche Bank prohibits financing for new coal-fired power plants and the expansion of existing plants, regardless of location.

For all clients depending more than 50% on coal power – be it energy capacity or energy output – Deutsche Bank will subject the provision of financial services to the availability of credible diversification plans.

See: Banking on Climate Change - policy scores

Goldman Sachs's prohibition on financing for "new coal fired power generation" covers both new plants and expansions of existing plants.

See: Banking on Climate Change - policy scores

HSBC will not finance any new coal-fired power plants anywhere globally.

See: Banking on Climate Change - policy scores

ING prohibits financing for new coal plants.

ING prohibits financing for "new clients whose gross revenue is > 10% reliant on operating coal-fired power plants," and "new clients whose reliance on coal is ≤ 10% should have a strategy to reduce this percentage to ≤ 5% by 2025." But this low threshold only applies to new clients; for existing clients, a 30% threshold is used, with the potential for exceptions.

See: Banking on Climate Change - policy scores

Intesa Sanpaolo will not provide finance for new coal fired power plants. Expansion is not mentioned in this policy. Intesa Sanpaolo will restrict project finance for the acquisition of coal fired power plants already in operation if this results in a coal related installed capacity of more than 30% on the total installed capacity for companies based in OECD countries and 50% for companies based in non-OECD countries.

Intesa Sanpaolo will not provide any new general purpose finance to companies ''with more than 50% or 30% of installed capacity for the production of energy from coal -respectively for companies based in non-OECD and OECD countries - unless the company demonstrates a documented medium/long-term plan/strategy for the progressive reduction of the use of coal and its threshold and/or requests financing directly related to the coal transition objectives, for example in the form of a “green loan”, “sustainable loan” or “transition loan.”''

See: Banking on Climate Change - policy scores

JPMorgan Chase prohibits direct financing for the new coal power plants or refinancing of existing coal plants, with potential exceptions for plants that use CCS.

See: Banking on Climate Change - policy scores

MUFG prohibits financing for new coal fired power projects, with significant room for exceptions concerning host country policies, international standards and available technology.

See: Banking on Climate Change - policy scores

Mizuho will not finance new coal power plants, except projects already committed to before June 2020; or replacements leading to CO2 reduction where it is also deemed necessary for stable energy supply in the host country.

See: Banking on Climate Change - policy scores

Morgan Stanley will decline financing transactions globally that directly support the development of new or physical expansions of coal-fired power generation, unless there is carbon capture and storage or equivalent carbon emissions reduction technology.

See: Banking on Climate Change - policy scores

NAB prohibits financing for new or expanded coal-fired power plants.

See: Banking on Climate Change - policy scores

BPCE/Natixis prohibits financing for greenfield or brownfield coal-fired power plants, and restricts financing for the acquisition of coal-fired power plants.

BPCE/Natixis will no longer support companies that develop new capacity in coal-powered electricity generation or thermal coal mining.

BPCE/Natixis also prohibits financing for companies whose activity is greater than 25% coal power (measured in revenues).

See: Banking on Climate Change - policy scores

RBS prohibits lending for "the construction of new unabated coal power stations."

RBS prohibits financing for "companies where more than 15% of activities related to coal, unless they have a credible transition plan in line with the 2015 Paris Agreement by end of 2021." This applies to coal power generation.

See: Banking on Climate Change - policy scores

OCBC prohibits new financing for all coal plants.

See: Banking on Climate Change - policy scores

PNC "prohibit[s] construction financing of all single-site coal-fired power plants."

See: Banking on Climate Change - policy scores

RBC excludes finance for transactions where the proceeds will be primarily used to develop a new greenfield coal-fired power plant.  

RBC will not provide financing to new clients that operate significant coal power generation assets (>60% generation, Megawatts per hour (MwH). RBC will provide financing to new clients that operate some coal power generation assets (≤60% generation, MwH) if the client can provide clear evidence that they are reducing their use of coal (e.g. diversifying, retiring assets); and/or reducing their GHG emissions; and/or converting to high-efficiency low emissions technologies. There are no exclusions for existing clients. 

See: Banking on Climate Change - policy scores

Santander prohibits financing for new coal plant projects worldwide.

Santander prohibits financing for "new clients with coal-fired power plants worldwide." Exclusions that apply to new clients only are restricted to the "weak exclusion" category.

See: Banking on Climate Change - policy scores

Société Générale prohibits financing for all coal power plants.

Société Générale will refrain from providing finance to companies of the thermal coal sector developing, or planning to develop, new thermal coal mines, new coal-fuelled power capacities strictly above 300 MW or new transportation projects dedicated to thermal coal. For this policy commitment, the majority owners of the asset are considered.

Société Générale will not finance new companies that are generating over 25% of their revenues in the thermal coal sector or that do not have a transition plan aligned with the 2030/2040 coal phase-out objectives of Société Générale. Furthermore, the bank will not provide new financial products and services to existing clients that generate over 25% of their revenues in the thermal coal sector and do not have a time-bound transition plan to exit. From the end of 2021 onwards, the bank will not provide new finance to any company that does not have a transition plan aligned with the 2030/2040 coal phase-out objectives of the bank.

See: Banking on Climate Change - policy scores

Standard Chartered prohibits financing new coal plants and their expansions worldwide. This prohibition was recently extended to projects that had previously been "grandfathered" in and so were still eligible to receive financing.

See: Banking on Climate Change - policy scores

SMBC prohibits financing for newly coal-fired power plants. Exceptions may be considered for those projects which use environmentally friendly technologies, such as ultra-supercritical pressure and for those projects which have been provided support before the revision.

See: Banking on Climate Change - policy scores

UBS prohibits financing for new coal plants globally.

UBS prohibits financing for coal power operators that are more than >30% reliant on coal, unless they "have a transition strategy in place that aligns with a pathway under the Paris Agreement, or the transaction is related to renewable energy."

See: Banking on Climate Change - policy scores

UniCredit excludes all types of banking services aimed at a coal-related project activity, regardless of any other consideration. This includes finance for new coal plants, existing coal plants and the expansion of coal plants.

UniCredit does not provide any financial services to coal-related subjects (defined as all the companies/subjects operating in coal-fired power generation area + the thermal coal mining area) that expand the coal business (e.g. by expanding existing coal capacity or buying/building new production sites).

UniCredit will also not provide any banking services to coal-related subjects (including subsidiaries) that get more than 25% of their current revenues in the coal business. From end 2021 onwards, companies also need to have a credible plan in place phasing out their coal business by 2028.

See: Banking on Climate Change - policy scores