BankTrack News
BNP Paribas to stop funding for tobacco industry
2017 |
BankTrack
A discarded cigarette butt, lying on dirty snow. Photo: By Sillyputtyenemies - Own work, CC BY-SA 3.0, wikimedia
2017 |
BankTrack
Bloomberg reports that BNP Paribas SA will cease funding and advising tobacco companies: "The French bank will halt transactions and investments related to the sector and “progressively disengage” from relationships with tobacco clients, Laurence Pessez, the bank’s global head of corporate social responsibility, said in an interview in Paris. The decision applies to all types of products and services, though the bank will honor all contractual commitments, she said." Read more.
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