The lasting impact of Russia’s invasion of Ukraine on global energy markets has steered the sustainability conversation towards efficiency and practicality in western Europe. Beyond investing in low-carbon solutions to reduce the energy intensity of across a range of sectors, banks were preoccupied with clients’ transition plans to reduce their own financed emissions, while facing tougher disclosure regulations and public scrutiny of their continued financing of the oil and gas sector.
In this environment, BNP Paribas continues to lead by example in sustainable finance, positioning itself as a frontrunner, both in terms of volumes and innovation.
“We know what best-practice looks like, and we’re committed to offering the best solutions for clients across sectors,” says Agnes Gourc, head of sustainable capital markets, BNP Paribas.
The bank, which aims to transition over 80% of its energy production financing activities to low-carbon energies by 2030, had disbursed €28.2 billion of financing for low-carbon solutions as of September 2022, compared with €23.7