As part of its Corporate Social Responsibility (CSR) strategy, BNP Paribas announces its commitment to combating climate change with three initiatives:
– the creation of a Climate Change Steering Committee,
– signing the Climate Principles,
– raising employee awareness about the impacts of climate change.
BNP Paribas agrees with the international scientific consensus that greenhouse gas (GHG) emissions from human activities are a critical contributor to changes in the world‘s climate. Therefore, as part of its CSR policy, BNP Paribas is taking decisive action to reduce GHG emissions, to alleviate negative consequences for humans and the global economy.
BNP Paribas has created a Climate Change Steering Committee to identify the risks and opportunities related to climate change and address the ways to support the transition to a low carbon economy. Jean Clamon, Managing Director of BNP Paribas, member of the Executive Committee and in charge of CSR, chairs this Committee on which representatives of all the different businesses and functions that sit. He says: “BNP Paribas, as a key player in the financing of the economy, wants to play an important part in combating climate change by, not only by reducing the impact of its own activities on the environment, but also by helping its clients to understand and manage their risks, opportunities and management needs relating to climate change”.
BNP Paribas also announced that they have signed the Climate Principles – the finance industry’s landmark response to dealing with the risks and opportunities of climate change. BNP Paribas joins a group of leading financial institutions who are committed to playing a proactive part in the fight against climate change in their capacity as advisors, lenders, investors and insurers. Steve Howard, CEO of the Climate Group, acts as secretariat to the Climate Principles group, said: “Banks and insurers have a critical role to play in financing the rapid scale up of the low carbon technology needed to tackle climate change. We are delighted that BNP Paribas has taken the step to adopt the Climate Principles and play an active part in the transition to a prosperous low carbon economy.”
BNP Paribas is convinced that a global strategy cannot be implemented without the support of all of its employees. Therefore, BNP Paribas will launch a global program to raise their awareness of the impacts of climate change and the actions they can take as individuals. The first action that they will take is to organise a ‘interactive chat’ with Jean Jouzel, a prominent member of the ICPP and winner of the Nobel Peace Prize. This will give their staff the unique opportunity to pose questions on climate change.
BNP Paribas’ CSR policy
BNP Paribas is a socially responsible business that finances the real economy while helping to protect the environment and to combat social exclusion and discrimination.
BNP Paribas’ commitment to Corporate Social Responsibility is embodied in its internal operations, (through its human resources policy or by limiting its direct impact), customer relationships, and contribution to society.
The Group’s commitment has been confirmed by joining several international agreements like the Global Compact, the Equator Principles, the Carbon Disclosure Project or the Climate Principles.
The group’s CSR performance is also recognised by the inclusion of the BNP Paribas share in the leading Corporate Social Responsibility indices.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is one of the six strongest banks in the world according to Standard & Poor’s* and the largest bank in the eurozone by deposits. With a presence in more than 80 countries and more than 200,000 employees, including 160,000 in Europe, BNP Paribas is a leading European provider of financial services on a worldwide scale. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Retail Banking, the Group has four domestic markets: Belgium, France, Italy and Luxembourg. BNP Paribas is rolling out its integrated model across the Europe-Mediterranean zone and boasts a large network in the United States. BNP Paribas Personal Finance is the leader in consumer lending in Europe. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe and solid and fast-growing businesses in Asia.
*Within its peer group
About the Climate Principles
The Climate Principles (www.theclimateprinciples.org), launched by The Climate Group and a group of major international financial institutions in 2008, provide the first voluntary global framework to guide financial institutions on how to embed climate change considerations into business strategy and all business activities. The objective of the principles is to accelerate action from finance sector to support the growth of a low carbon economy. All adopting organisations are required to implement a comprehensive approach to understanding and managing climate related issues across their business – from assessing climate change related risks and opportunities in lending and investment to the development of new products and services that support low carbon growth.