BNP Paribas was named the World’s Best Bank for Corporate Responsibility by finance magazine
Mobilize investor capital around CSR projects
Most of these environmental causes have difficulty finding investors, as they are often viewed as risky investments despite growing investor demand for positive impact projects. As a result, this gap between the multitude of projects with a positive impact that cannot be financed and the huge amount of capital available to global investors creates what is called the "funding gap". To date, the "funding gap" amounts to 7,000 billion dollars in financing needed to achieve the SDGs in 2030, according to the UN.
During the One Planet Summit, BNP Paribas and the UNEP (United Nations Environment Program) signed a memorandum of understanding in December 2017 to set up mechanisms in various emerging countries to mobilize investor capital for major projects combining ecology and the fight against poverty among local populations.
This second part of the memorandum of understanding demonstrates BNP Paribas' determination to go even further in supporting viable and profitable business models for its various players. By using its financing expertise to aid ecological projects that will improve the lives of millions of farmers in remote areas, BNP Paribas is acting in line with its engagement policy.
By 2020, the Group has committed to increasing its financing in the renewable energy sector to 15 billion euros, knowing that its activities have already enabled it to channel 155 billion euros towards energy transition and the achievement of the UN's 17 Sustainable Development Goals.
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