An eventful day ahead for BNP Paribas. The French bank’s general assembly takes place this Tuesday morning, two weeks after the announcement of a record net profit of 4.4 billion euros in the first quarter. However, it is the climate policy of the largest bank in the euro zone that we should be talking about. Some NGOs try to express their misunderstanding and dissatisfaction.
On the occasion of this general assembly, French NGOs and scientists bought a symbolic share to be able to participate in the event. They hope to be able to enter the plenary that will be held at the Carrousel du Louvre. For them, BNP Paribas’ climate policy is not aligned with the Paris agreements.
Are ties to the fossil fuel giants still too close?
It is true that BNP announced at the beginning of the year, and recently clarified, the end of the financing of new oil and gas field projects. But according to the NGOs, this is only part of the bank’s business with energy companies.
There are still issues of shares and bonds or bilateral loans, remind these NGOs, including Friends of the Earth and Oxfam. They require BNP to have strong shareholder commitment when placing assets under management in these companies.
BNP Paribas has not made any official announcement on these specific points, but the bank explains that its involvement in bond issues by large fossil fuel companies is becoming rarer and fully in line with its 2030 environmental goals.
Source: BFM TV
