Acceleration of the timetable for exiting coal
BNP Paribas accelerated its timetable in 2020 in order to completely exit the thermal coal value chain by the year 2030 in the European Union and in OECD countries, and by 2040 in the rest of the world. In keeping with this timetable, like all of the Group’s business lines, BNP Paribas Cardif will complete its full exit from any mining, exploration or electricity production company related to thermal coal by these dates. Since 2018, BNP Paribas Cardif no longer finances any electricity generating company where more than 30% of its production comes from coal, nor mining companies where more than 10% of revenue comes from thermal coal.
ESG criteria included in our investment activities
BNP Paribas Asset Management continues to place Environmental, Social and Governance (ESG) criteria at the heart of its sustainable investment strategy. These criteria also guide its voting policy at Annual General Meetings of companies in which it is a shareholder, particularly with regard to the energy transition. Thus, in 2020, the Asset Management supported more than 90% of shareholder proposals to combat climate change.
BNP Paribas Asset Management also launched an innovative long/short thematic equity fund investing in companies providing environmental solutions: BNP Paribas Environmental Absolute Return Thematic Fund (“EARTH”).
€17.8 bn
in support for renewable energies, at the end of 2020 (number two in EMEA for the financing of renewable energy projects at the end of 2020)
(Dealogic)
€10.8 bn
of green bonds as joint bookrunner for our customers in 2020 and 1st in the global sustainable bonds market
(Bloomberg)
Promote the positive impact of our individual customers
To better support our Private Banking clients in their desire to make a positive impact,
BNP Paribas Wealth Management has introduced a new rating, called the “Trèfle” (clover) methodology. It makes it possible for clients to identify the level of sustainability of their investments, whatever the asset class. Investors can easily select, compare and align their investment choices with their sustainability goals. Several offers are also being developed within the Group for individual customers. In Italy, for example, BNL offers “green” personal loans to finance home renovation and, since 2020, dedicated “green” home loans.