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: 5 points out of 32

2 points for a weak exclusion of coal power projects: ANZ prohibits direct financing for new coal-fired power plants that emit more than 0.8t CO2/MWh.

3 points for a weak exclusion threshold for coal power companies: ANZ prohibits lending to new clients whose thermal coal assets exceed 50% of revenue, installed capacity, or generation.

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: 10.5 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.

4 points for a weak phase-out commitment 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.

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

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: 26 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.

4 points for a weak exclusion of companies expanding coal power (coal power developers): BNP Paribas has announced that "it will end its relationships with companies planning new coal-fired power," but has not published yet its updated policy. The current policy is weak in this category because it only requires coal power companies to reduce their coal share of at least in line with countries' NDCs.

8 points for a strong phase-out commitment regarding coal power companies: BNP Paribas will reduce its exposure to coal power to zero by 2030 in the EU and in OECD countries outside the EU and 2040 in the rest of the world. This covers lending and underwriting. 

8 points for a strong exclusion threshold for coal power companies: BNP Paribas has announced that it would reduce its exposure to coal-fired electricity to zero by 2030 in the EU and OECD countries and 2040 in all other countries in the world. BNP Paribas will only finance companies that have adopted a clear coal exit strategy, with a timeline that specifies the different steps that will lead to zero coal power in 2030-2040. Companies that have not publicly defined a coal exit date in 2020 or who are planning new capacity will be excluded. From 2021 onwards each company should adopt a convincing policy to reach the 2030-2040 exit goal. This exit strategy will be monitored yearly.

For the most recent policy updates by BNP Paribas on coal power, see the press release below. These updates are not yet integrated in BNP Paribas' previous policy. 

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: 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: 4.5 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.

0.5 point for enhanced due diligence regarding coal power companies: Credit Suisse has enhanced due diligence for majority coal power companies.

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: 6.5 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.

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

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: 5.5 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.

3 points for the commitment to reduce financial exposure to coal power companies: Mizuho will reduce its financial exposure to coal power by 50% from 2019 by 2030, and zeroed by 2050.

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: 6 points out of 32

4 points for a moderate 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.

1.5 points 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: 22 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 exclusion threshold for coal power companies: BPCE/Natixis prohibits financing for companies whose activity is greater than 25% coal power.

For the most recent policy updates by Natixis on coal power, see the press release below. These updates are not yet integrated in Natixis' previous policy. 

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

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 prohibits direct financing for new coal-fired power plants that emit more than 0.8t CO2/MWh.

ANZ prohibits lending to new clients whose thermal coal assets exceed 50% 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.

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 prohibits financing for companies that are planning new capacities, whether through purchasing, the expansion of existing coal power plants or the construction of new coal power plants.

See: Banking on Climate Change - policy scores

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.

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.

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 prohibits financing for companies whose activity is greater than 25% coal power.

For the most recent policy updates by Natixis on coal power, see the press release below. These updates are not yet integrated in Natixis' previous policy. 

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

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

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.

For a company that gets between 30 and 50% of its revenue from thermal coal, or which has more than 50% of its revenue linked to the power sector and between 30% and 50% of its power capacity fueled by coal, Société Générale prohibits financing if the company has "plans to expand their ...coal-fueled power infrastructure."

Furthermore, Société Générale prohibits financing for all companies that get >50% of their revenue from thermal coal. For companies that get between 30 and 50% of their revenue from thermal coal, Société Générale prohibits financing unless they have an "explicit corporate strategy consistent" with diversifying their revenue stream to <30% thermal coal by 2025, or with diversifying their revenue stream to <50% thermal coal and their power generation to <30% coal by 2025.

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