prohibited activities Here are the activities we will not support

Cross-sector requirements

We will not provide financial services to clients who:

• Are involved in child or forced labour, or violations of human rights
• Have operations that adversely impact upon the Outstanding Universal Value of UNESCO World Heritage Sites
• Have operations that are located within, or significantly impact negatively upon wetlands designated under the Ramsar Convention on Wetlands of International Importance
• Convert or degrade High Conservation Value (HCV), High Carbon Stock (HCS) forests, or peatlands
• Trade or process species listed on the Convention of International Trade in Endangered Species of Wild Fauna and Flora (CITES)

View our cross-sector requirements

Oil and gas

We will not provide financial services to new projects or developments which:

• Involve the exploration or production of oil and gas in the Arctic region
• Involve the exploration or production of oil and gas in the Amazon Basin
• Involve the exploration or production of oil from tar sands, including the construction of associated export facilities
• Involve the exploration or production of extra heavy oil (defined as API equal to or below 10

View our extractive industries position statement

Mining and metals

We will not provide financial services directly towards:

• Asbestos mines
• New thermal coal mining projects
• Thermal coal mine expansions
• Infrastructure dedicated to thermal coal mining projects
• Acquisitions of standalone thermal coal mines
• Mines that conduct direct marine or riverine tailings disposal
• Mines that conduct Appalachian Mountaintop Removal
• The exploration or production of deep-sea mining projects

We will not provide financial services to clients* that are

• building new thermal coal infrastructure
• investing in new or additional thermal coal power-generating capacity
• acquiring standalone thermal coal power assets.

*This restriction will apply to the client entity pursuing expansion plans and we will exit the relationship subject to contractual arrangements.  Ongoing provision of financial services to the client group will be subject to enhanced due diligence including the following:

• Review of the client group’s transition strategy.
• Confirmation that any financial services provided to the client group will not and cannot be used for thermal coal.
• Support from our Group Responsibility and Reputational Risk Committee (or delegate).

View our extractive industries position statement

Fossil fuel power

We will not provide financial services directly towards:

• New coal-fired power plant projects in any location
• Any coal-fired power plant expansions, retrofits, or dedicated infrastructure, in any location[1]

We will not provide financial services to clients* that are:

• Building new thermal coal infrastructure
• Investing in new or additional thermal coal power-generating capacity
• Acquiring standalone thermal coal power assets

*This restriction will apply to the client entity pursuing expansion plans and we will exit the relationship subject to contractual arrangements.  Ongoing provision of financial services to the client group will be subject to enhanced due diligence including the following:

• Review of the client group’s transition strategy.
• Confirmation that any financial services provided to the client group will not and cannot be used for thermal coal.
• Support from our Group Responsibility and Reputational Risk Committee (or delegate).

View our power generation position statement

Nuclear power

We will not provide financial services directly towards:

• The manufacture or distribution of nuclear weapons
• Nuclear power plants where the host country is not a signatory to the Treaty for Non-Proliferation of Nuclear Weapons, or does not have in place appropriate IAEA Safeguard Agreements

View our power generation position statement

Infrastructure and transport

We will not provide financial services directly towards:

• Infrastructure that is dedicated to thermal coal.

View our infrastructure and transport position statement

Agribusiness 

We will not provide financial services directly towards:

• New plantations or livestock ranches which convert or degrade High Conservation Value (HCV) or High Carbon Stock (HCS) Primary forests, peatlands, Key Biodiversity Areas (“KBA”) or designated legally protected areas such as National Parks and Wildlife Reserves.
• Operations which use fire, including for land clearance, and/or in the preparation of land for planting.
• The production, manufacture or trade of fur or Angora wool.
• Production systems using layer cages for poultry or caged rearing systems for livestock - applicable to producers.
• Operations that grow, process or trade soy from the Brazilian Amazon.
• Operations that grow soy in the Brazilian Cerrado.
• Operations that grow, process, or manufacture
  first generation biofuels grown on HCV-HCS land or recently deforested land; where it directly competes with food sources; or in areas of high-water stress.
• Operations using pesticides categorized as 1A or 1B by WHO; substances banned under the Stockholm Convention on Persistent Organic Pollutants (POP); or substances listed in Annex III of the Rotterdam Convention – applicable to producers.

View our agro-industries position statement

Fisheries

We will not provide financial services directly towards:

• Operations which practice shark finning or trade in shark fin products
• Operations which practice drift net fishing, deep sea bottom trawling or fishing with the use of explosives or cyanide
• Illegal Unreported and Unregulated (IUU) fishing, or use of vessels known to have conducted IUU fishing

View our agro-industries position statement