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AIB Group Excluded Activities List

In July 2020, we published our list of Excluded Activities meaning Corporate, Institutional & Business Banking (CIB) Wholesale will not provide term loan products or Corporate Finance advisory services to any entities or their subsidiaries involved in our list of excluded activities in the following sectors:

Energy & Climate Action

  • Exploration, extraction and upgrading of oil sands projects;
  • Nuclear Power Generation;
  • Nuclear waste transportation, decommissioning and/or final disposal of high-level nuclear waste;
  • Coal or oil fired power generation (other than emergency or stand by oil generation) except where less than 25% of revenues are generated from this activity and only where there is a plan to move to sustainable fuels by 2025;
  • Onshore/offshore exploration, extraction or refining of Coal or Oil;
  • Natural Gas fracking;

Animal Welfare

  • Producing, processing animal fur;
  • Support of any type of animal fights for entertainment;
  • The use of dynamite or poison to the catch marine and fresh water species (including shellfish) in the wild;

Ecosystem Protection

  • Deforestation or the burning of natural ecosystems for the purposes of land clearance;
  • Timber from illegal trading or logging operations;
  • Production or trade in wood or other forestry products other than from sustainably managed forests;

Healthcare/Genetic Engineering

  • The development of Genetic Engineering or Genetic Modification on humans;
  • The development of Genetic Engineering or Genetic Modification on animals for non-medical purposes;

Adult Entertainment

  • Online pornography;

Surveillance/Arms Related/Military

  • Anti-personnel landmines2/Cluster munitions3;·        
  • Weapons of Mass Destruction including the production, maintenance or trade of nuclear, biological4, chemical5 and toxin weapons;
  • Any activity that adversely impacts Human Rights defined by the UN6;

     

This list has since been incorporated into our Group Credit Risk Policy, which supports the management of credit risk across the Group. The policy rules now prohibit providing new money for term lending to businesses, or any of their subsidiaries, involved in the excluded business activities.

The updated policy was approved by our Board in October 2020 and, since 29 January 2021, this rule applies to all business customers with a Gross Connected Exposure of >£/€300k and who are relationship managed.

[1] CIB Wholesale consists of all CIB business units apart from Business Banking and Private Banking

[2] As defined in Article 2 of the Convention on the Prohibition of the Use, Stockpiling, Production and Transfer of Anti-Personnel Mines and on their Destruction

[3] As defined in Article 2 of the Convention on Cluster Munitions

[4] As defined in Article I of the Convention on the Prohibition of the Development, Production and Stockpiling of Bacteriological (Biological) and Toxin Weapons and on their Destruction

[5] As defined in Article II of the Convention on the Prohibition of the Development, Production, Stockpiling and

Use of Chemical Weapons and on their Destruction (Chemical Weapons Convention)

[6] As listed on the UN website: https://www.un.org/en/universal-declaration-human-rights/