For many years, BNP Paribas has actively created a favourable environment for women...
5 highlights in sustainable finance for BNP Paribas in 2019
Sustainable finance is a powerful lever for economic transformation, creating a more responsible company. Once again this year, as a world leader in this sphere, BNP Paribas has launched and conducted numerous initiatives in support of inclusive, environmentally aware economic growth. We look back at 5 key moments in the Group's story for 2019.
Accelerating the energy transition
- The BNP Paribas Group announces its complete withdrawal from coal, and raises its financing targets for renewable energies
The Group has announced its intention to reduce its exposure to thermal coal to zero by 2030 in the EU and by 2040 in the rest of the world. The group has also increased its financing target for renewable energy projects from €15bn to €18bn by 2021.
- BNP Paribas Cardif takes new measures to promote energy transition and lower its ecological footprint
Because energy transition is one of the priorities set in its CSR strategy, BNP Paribas Cardif had already committed itself to a target of €3.5bn in green investments by the end of 2020. In addition, as part of its directly-financed assets, BNP Paribas Cardif will no longer finance energy-producing companies in which coal accounts for over 30% of installed electricity production capacity.
- BNP Paribas commits to the responsible financing of business with a positive impact on the world's oceans
The ocean forms a critical part of our planet, covering 70% of its total surface, from coastal areas to the deepest depths. For this reason, BNP Paribas has taken advantage of the opportunity presented by Climate Week NYC to formalise its position in support of SDG 14, "Life Below Water". It has also announced new measures to protect the ocean, including a €1bn commitment to finance ecological transition in shipping vessels by 2025!
Support for social entrepreneurs
- BNP Paribas invests in a French Impact fund to support social entrepreneurs
BNP Paribas is consolidating its position as a benchmark bank for social entrepreneurship by investing in an impact investing fund devoted to pre-seed funding, entitled Makesense Seed 1 – created by the Makesense incubator, which specialises in supporting young social and environmental startups.
ClimateSeed takes first prize in the "Social, sustainable and responsible banking" category
ClimateSeed – the first social enterprise for climate action launched by BNP Paribas – has won first prize in the "Social, sustainable and responsible banking” category at 2019's Customer Insight and Growth Banking Innovation Awards.
BNP Paribas named "World's Best Bank for Corporate Responsibility"
BNP Paribas was named The World’s Best Bank for Corporate Responsibility in 2019 by Euromoney. It is a distinction that rewards the work of all BNP Paribas Group employees, who are committed to working with customers to build a new, innovative and inclusive banking model.
Development of sustainable investment
- BNP Paribas: a world leader in Green Bonds
In late 2017, BNP Paribas Asset Management also launched a fund devoted to Green Bonds – Parvest Green Bonds. In early 2019, the Group also issued its first green bond on the Stockholm stock exchange, intended for Swedish customers and investors.
- BNP Paribas Asset Management: a key player in SRI
BNP Paribas Asset Management's Socially Responsible Investments accounted for around 10% of assets (40 billion euros) in late 2018. By late 2020, BNP Paribas Asset Management will have incorporated ESG criteria into all of its investment processes.
Crédit photo header ©Lynn Yeh
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