Taking action to accelerate the energy transition - BNP Paribas CIB
 
Thursday 14 December 2017
Perspectives / Sustain / Taking action to accelerate...

A commitment to the UN Sustainable Development Goals means a commitment to rethinking how we all work. Now is the time to step up the pace. Here is why.


Fairer, more sustainable, respectful of human rights: these are some of the core principles underpinning BNP Paribas' commitment to sustainable finance.

As part of this commitment, in December BNP Paribas took a leading role in Climate Finance Day 2017 and the One Planet Summit 2017. Here the bank reaffirmed its pledge to accelerate the energy transition through three fundamental climate commitments:

  • Partnering with clients in the transition to a low-carbon economy
  • Reducing the environmental impact of operations
  • Advancing awareness and sharing best environmental practices

Some of the practical steps BNP Paribas is taking include: investing €100 million in innovative startups by 2020; boosting funding for renewable energy to €15 billion by 2020, up from €9.3 billion in 2016; and embedding itself as a leading bank for euro-denominated green bonds before 2020.

"In this race against time, the banking and financial sector must be at the forefront of building a low-carbon economy."
Jean-Laurent Bonnafé, CEO, BNP Paribas

Meanwhile, BNP Paribas Foundation is teaming up with the Bill & Melinda Gates Foundation, with the support of the President of the Republic of France, to launch the One Planet Fellowship, supporting research on climate adaptation in Africa; and BNP Paribas and the United Nations Environment Programme are working in partnership to bring private capital to sustainable projects in emerging countries (see links below).

Against a background of rapid urban growth and rising global temperatures, now is the time to take action.


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