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Company Response

BNP Paribas' response to RAN report

[Full response attached]

We recognise the important role banks should play in the ecological transition, and the magnitude of risks at stake for climate, for biodiversity, and for the planet. We know that we need to redouble our efforts collectively.

However, we note with satisfaction that, according to your study, BNP Paribas ranks as the no.2 bank worldwide for the quality of its restriction policies with regard to the most adverse energy sources for the environment, and no.1 among the top 20 largest international banks. Besides, the report underlines the significant decrease of our coal exposure in 2020, which directly results from these policies...

... BNP Paribas is implementing the PACTA methodology to align the CO2 emissions linked to its Oil and Gas exploration and production portfolio with the trajectory required to deliver against the Paris Agreement’s goals. This work has much accelerated in 2020 and now involves the whole organisation. Based on a solid methodological ground, the Group will thus be able to differentiate its support to Oil and Gas players depending on their level of engagement in the energy transition. The energy sector is our priority when measuring the trajectory of our credit portfolio. This is why we are actively working on it, and will publicly report on its climate alignment in the coming months. The transformation challenges ahead of us are important. We strive to address them through a methodical approach, with determination, and thanks to a constructive dialogue with our stakeholders...

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