BNP Paribas has been named the "World's Best Bank for Sustainable Finance" by Euromoney
BNP Paribas is the world's best bank for Sustainable Finance according to the Euromoney Awards for Excellence 2018.
In granting this award, Euromoney underlined the significant steps taken by BNP Paribas aimed at having a positive impact on society.
Helen Avery, Sustainable Finance Editor, Euromoney said: "BNP Paribas has committed itself to sustainable finance in a way that is unmatched in the sector. By turning down deals and pulling out of sectors that are not sustainable, as well as driving new sustainable finance initiatives across all of its businesses."
In particular Euromoney highlighted the Group's decision to cease financing of oil and gas from shale and oil from tar sands, and its decision to cease financing and investment activities of tobacco companies. At the end of 2017, BNP Paribas had allocated 155bn euros towards financing projects which contribute directly to the achievement of the United Nations Sustainable Development Goals.
Jean Laurent Bonnafe, CEO, BNP Paribas said: "We are delighted to be recognised by Euromoney in their annual awards for excellence. At BNP Paribas, we put sustainable finance at the heart of our business model. We believe banks have a crucial role to play, leveraging our place at the centre of the economy, in order to bring together individuals, businesses and investors to channel resources towards projects which address the major social and environmental challenges facing society."
"I would like to thank our clients and partners who entrust us with their projects and who have challenged us to provide new solutions as they also seek more sustainable models. And I would like to thank our staff who are passionate about having a positive impact in their work and have been a key driver in the bank's focus on environmental and social issues."
BNP Paribas was also recognised in the following categories:
- Best Bank for Sustainable Finance, Western Europe
- Best Bank, Luxembourg
- Best Investment Bank, France
The whole #BNPParibas team around @antoinesire & @LaurencePessez received the “World’s Best Bank for Sustainable Finance” 2018 Award from @euromoney. Being the bank for a changing world means being a bank which helps change the world for a better future. #PositiveBanking pic.twitter.com/jFDnJMwlmg— BNP Paribas Group (@BNPParibas) July 12, 2018