SUSTAINABILITY
BNP PARIBAS: CLIMATE ACTION IN NUMBERS
BNP Paribas said in 2023 that it aimed for 80 % of its energy production financing to go to low-carbon energy by 2030.
The bank later accelerated that target, moving the 80 % goal up to 2028.
BNP Paribas then set a new 90 % target for 2030.
At the end of September 2024, low-carbon energy represented 76 % of BNP Paribas’ energy production credit exposure.
At this time, financing for the production of low carbon energy totalled € 38.3bn( US $ 43.6bn).
Balancing profitability and discipline The commercial case for climate action remains one of the most important questions in the market. Laurence did not shy away from the short-term tradeoff: when a bank stops financing certain fossil-fuel activities, it can lose revenue. However, she argued that this is offset by growth in low-carbon lending and by the strategic benefit of being early to market.
“ We made these commitments at the beginning of 2023 for two reasons,” she says.“ For environmental reasons – which is that we don’ t want to contribute to finance additional oil and gas – but also for strategic reasons. Our target is really
98 September 2026