- See details below in the key figures.
- Reports published by our NGOs establishing the responsibility of banks in fueling the climate crisis, including BNP Paribas, over the past 5 years (in French).
- The International Energy Agency states in its report « Net Zero by 2050 » published on 17th May 2021 that: « Beyond the projects already committed in 2021, there are no new oil and gas fields to be approved in our trajectory, and no new coal mines or mine expansions are needed. International Energy Agency, 2021.
- Net Zero by 2050. Oxfam France, 2021. Banques et climat : le désaccord de Paris (in French).
- A study analysing 195 ‘mega’ oil and gas projects led by oil and gas majors showed that these projects would be enough to exhaust the remaining 1.5°C carbon budget. The Guardian, 2022. Revealed: the ‘carbon bombs’ set to trigger catastrophic climate breakdown.
- Companies include Total, Chevron, ExxonMobil, Shell, BP, ENI, Repsol, Equinor. See details below in the key figures.
- This pioneering French law is expected to make considerable progress in terms of environmental justice. It obliges certain large French multinational companies, including banks and other financial actors, to take measures to identify and prevent risks of serious violations of human rights, human health and safety, and the environment resulting from their own activities and those of companies they directly or indirectly control, as well as those of their suppliers and subcontractors with whom they have an established business relationship, both in France and abroad. These measures must be published annually in a vigilance plan, implemented effectively and monitored by the company to ensure their effectiveness.
- See details below in the key figures.
- The NGOs have launched a petition, accessible on the Affaire BNP website.
- Key figures:
- BNP Paribas is the 1st European and 5th global financier of fossil fuel development with $55 billion in financing between 2016 and 2021.
- BNP Paribas is the 1st global financier of the eight US and European oil and gas majors – Total, Chevron, ExxonMobil, Shell, BP, ENI, Repsol, Equinor – with $43 billion in financing provided to their fossil fuel activities between 2016 and 2021.
- BNP Paribas is in particular the 1st global financier of Shell, BP and ENI, and the the 2nd global financer of Total, between 2016 and 2021.
- BNP Paribas stands out in certain environmentally critical sectors such as Arctic oil and gas drilling for which it is the 1st global financier with nearly $6 billion in financing granted to this sector between 2016 and 2021.
This financial data is taken from the international Banking On Climate Chaos research, published annually and supported by nearly 500 civil society organisations worldwide. The financing volumes above cover loan, underwriting – excluding bilateral transactions – in which BNP Paribas was involved between 2016 and 2021, in proportion to the share of the recipient companies’ activities in fossil fuels or the designated sub-sector.
Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club, Urgewald, March 2022, Banking on Climate Chaos – Fossil Fuel Finance Report 2022. The report, as well as the database disaggregated by financial actor and company, is available online.