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30 Nov 2015

Karla Tecson, International Business Times

Environment advocates: Corporate sponsors use COP21 to appear “green”

Environmental groups have panned companies sponsoring the 2015 Paris Climate Conference for…taking advantage of the event to make them look more environmentally friendly. In particular, France’s largest utilities Engie and EDF and Paris-based bank BNP Paribas were accused of hypocrisy in sponsoring the UN climate meeting… Engie and EDF are reported to own 46 coal-fired power plants worldwide, which produce more than 190 megatonnes of carbon dioxide equivalent emissions a year…BNP Paribas has previously been under fire for financing a range of “dirty” fossil fuel projects…BNP Paribas announced on November 19 that it will no longer finance coal mining activities…unless they have put in place an energy diversification strategy…Engie said…it will not invest in any new coal projects…while EDF announced it is investing $2 billion…a year in renewable energy capacity worldwide. Still, environmental advocates expressed their fears that the companies’ sponsorship of COP 21 could influence the final agreement…