Partner News
BNP Paribas to limit finance to customers using converted Amazon forest land
2021-02-15
BNP Paribas head office in Paris. Photo: Boubloub via Wikimedia Commons (CC BY-SA 4.0)
2021-02-15
French bank BNP Paribas said it would not finance customers producing or buying beef or soybeans from land cleared or converted after 2008 in the Amazon. The bank was outlining a corporate policy to fight deforestation in the Amazon and the Cerrado regions. BNP Paribas also said it would only provide financial products or services to companies - producers, meat conditioners, and traders - with a strategy to achieve zero deforestation in their production and supply chains by 2025 at the latest.
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