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Poland: Interview on responsible financing by Director of CSR Department, BNP Paribas
Author: Anna Migdalska, Rzeczpospolita, Published on: 27 February 2018
In this interview Malgorzata Zdzienicka-Grabarz, the director of CSR Department, explains how BGZ BNP Paribas Bank activities are associated with corporate social responsibility, why responsible financing is key for a bank and how it works in practice.
By examining potential and existing clients, BNP Paribas makes sure that it does not support financially non-responsible socially or environmentally projects. BNP Paribas implements its mission into practice, by monitoring the risks in seven sensitive sectors (e.g. mining, coal fired power plants, agriculture, defence). Customers that operate in one of these sectors have to go through appropriate procedures before securing the financing. In line with the BNP Paribas decision of October 2017, the bank started to exit from financing the tobacco sector, fur animal breeding and the coal sector.
CSR in practice stands not only for mitigation of risks but also strengthening of a positive impact of financing. Therefore, the bank develops the product offer for renewable energy sources to support clients in transitioning to low-carbon economy.
Related companies: BNP Paribas