Western Europe's best bank for sustainable finance 2018: BNP Paribas
Awards for Excellence 2018
In sustainable finance, it is often the case that what is not financed shows a bank’s commitment to sustainability just as much as what is financed. BNP Paribas is committed to both sides of this coin and it wins the award this year for western Europe’s best bank for sustainable finance.
In 2017, for example, the bank announced it will no longer do business with companies whose principal business activity is the exploration, production, distribution, marketing or trading of oil or gas from shale or tar sands – nor is it financing any oil or gas projects in the Arctic region. It also ceased financing related to tobacco companies.
But the bank is also spearheading the financing of new areas of industry that have a sustainable future and are in line with the UN Sustainable Development Goals (SDGs), with €155 billion committed as of end 2017.