Supporting our customers in their transition
To contain the damage caused by climate change, businesses and individuals must contribute to a more environmentally friendly economy. As a pioneer in sustainable finance, BNP Paribas supports these clients in their efforts and is committed to being the partner of choice for transition initiatives.
Since the creation of the Low-Carbon Transition Group by BNP Paribas at the end of 2021, its experts around the world have contributed to accelerating the dialogue on transition issues with the Group’s teams and customers. These experts and teams have supported clients with reducing the impact of high-carbon sectors, accelerating their transformation, developing partnerships around strategic projects and investing in innovative technologies that promote a low-carbon economy.
Working alongside SMEs and mid-caps
Small and medium-sized enterprises (SMEs) and mid-caps are also accelerating their energy transition. To support them, our Commercial, Personal Banking & Services division has set up an approach called Low-Carbon Transition for SMEs & Mid-Caps in our five main European markets, with the participation of BNP Paribas Fortis, BGL BNP Paribas, Commercial & Personal Banking in France (CPBF), BNL and BNP Paribas Bank Polska. This initiative is based on our integrated model and an ecosystem of partners to support these companies in their decarbonisation strategy.
Supporting large companies in their transition
As a partner of large international companies, our Corporate & Institutional Banking division and its Global Banking teams contributed to several inaugural sustainable bond issues in 2022. Among them, General Motors’ green bond for electric mobility, of US$2.25bn, will see its issue revenues invested in the clean transport ecosystem. L’Oréal’s bond, in the amount of €3bn, included a tranche dedicated to the reduction of greenhouse gas emissions and sustainable innovation in the field of packaging. Lastly, the US$625m bond from Lenovo was the largest in the tech sector in 2022 at the time of issue.
As part of our “One Bank for Corporates” initiative to support corporate clients’ business development internationally, BNP Paribas financed in February 2022 the expansion and further development of a hazel tree field in France for Ritter Sport, a German quality chocolate producer. This secures and brings the supply of this raw material, the hazelnut, closer, thus reducing CO2 emissions.
Supporting individuals in their efforts
Our individual customers are also forced to rethink their energy use and reduce their carbon footprint, due to the climate emergency, but also due to soaring energy prices. To encourage them to improve the energy efficiency of their homes, BGL BNP Paribas proposes an energy renovation offer, in partnership with Actif (a certified energy adviser),ranging from energy consulting to the financing of their project. With Ecobonus, BNL provides its customers with tax credits for their energy renovation work. Finally, BNP Paribas Bank Polska and the European Bank for Reconstruction and Development (EBRD) have set up an historic loan scheme for Polish individuals wishing to invest in the energy renovation of their homes.