Translations

BNP PARIBAS pledges to be carbon-neutral by the end of 2017

4. Environment

Energy / Greenhouse Gases (GHG)

Sector Finance / Bank / Insurance

Year 2017

Country France

Transmitter

Context

As part of its commitment to the fight against climate change, BNP Paribas is committed to neutralizing its CO2 emissions linked to its functioning by the end of the year 2017.

Since 2012, BNP Paribas has reduced its direct CO2 emissions by more than 15% per employee, in line with the 25% target by 2020. This reduction is the result of an active energy efficiency policy for the buildings, data centers and the optimization of professional travel. A real challenge when we know that the buildings occupied by BNP Paribas around the world represent more than 7 million m2!

Objectives

More than half of CO2 emissions of the Group come from electricity consumption. BNP Paribas is committed to neutralizing them by using only low-carbon electricity in all countries where this is possible.
For incompressible CO2 emissions, it is necessary to compensate them through partnerships

APPROACH

Compensation for incompressible CO2 emissions (such as business travel or gas consumption) will be achieved through partnerships with reference organizations in line with our accountability requirements: for example, BNP Paribas will partner with the GoodPlanet Foundation around the construction of biodigestors, individual biogas production equipment, in rural India.

This commitment is part of a process launched since 2015 around other strong initiatives:

- the refusal to finance coal power plants and coal mines in any country, and electricity-producing companies whose strategy for reducing their share of coal production is less ambitious than their country's;

- 100 M€ investment by 2020 in start-ups that innovate to accelerate the energy transition;

- the gradual integration of the climate component into the rating methodology of projects and companies financed: we have just joined the Carbon Pricing Leadership Coalition, which under the aegis of the World Bank aims to support and encourage implementation of carbon pricing worldwide;

- the publication of the carbon footprint of more than 100 funds managed by BNP Paribas Asset Management (BNPP AM), resonating with its involvement in the Decarbonization Coalition Portfolio. BNPP AM also offers an expanded range of low-carbon funds to investors.

CONTRIBUTION TO COMPANY PERFORMANCE

This approach to carbon neutrality contributes to the company's economic performance along two axes: reducing its emissions reduces costs for the company and the transparency displayed with the publication of our funds' carbon footprint, or strong commitments in terms of refusing to finance coal and increasing investments in renewable energies are elements for our customers' satisfaction.

Benefits

BNP Paribas thus strengthens its position as one of the leading European banks in terms of its effective contribution to the objectives of COP21, thus contributing to the energy transition and the fight against global .