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Company Response

3 Apr 2020

BNP Paribas

BNP Paribas' response

[Full response attached]

...BNP Paribas participated in the consultation process ahead of this publicationn...it is important to note that the Group's total financing to the oil & gas sector has remained stable since 2016, whilst our exposure to renewable energies has doubled over the same period. In 2019, the Group announced a timetable for exiting thermal coal by 2030 in countries of the European Union and by 2040 in the rest of the world. To date, BNP Paribas is one of only two banks amongst the world's 10 largest to have announced coal exit deadlines. BNP Paribas has not financed any coal-fired power plant or any coal mine projects anywhere in the world since 2017...Even though the methodology of this report has changed between 2018 (took into account 3 years) and 2019 (takes into account 4 years), it highlights the commitments made over the long term by BNP Paribas to reduce the use of fossil fuels...with regard to the increase in fossil fuel financing that is granted to BNP Paribas, this does not correspond to reality. The bank's financing remained stable. Transactions that have increased do not correspond to financing by the bank, but rather to participation in the structuring and distribution of syndicated loans or bond issues on the financial markets...BNP Paribas aims to pursue its current efforts to accelerate the energy transition and improve the management of climate-related risks...Please also note that...BNP Paribas ranked in 2nd place for financing renewable energy projects in the EMEA region and is 4th internationally according to Dealogic end-2019 ranking...