BNP Paribas S.A. (BNP Paribas) is an international entity based in France that operates globally, and that provides and carries out investment services and banking transactions globally through various financial instruments. It has committed to take steps to support the transition to a low-carbon economy and has funded sustainable development and climate projects with a focus on renewable energy. In 2015, it has committed to double its financing in the renewable energy sector; stop direct and indirect financing for thermal coal mining and coal-fired power generation projects, as well as include an energy diversification requirement for coal mining and coal-fired power generation companies; strengthen carbon risk management policies; and support companies and countries in making a safe transition to more sustainable energy use. In 2017, BNP Paribas' position was further strengthened with commitments to stop financing coal mines and coal-fired power plant projects, companies significantly involved in unconventional oil and gas (including shale gas and tar sands), as well as tobacco companies.
GCF signs partnership agreement with BNP Paribas to accelerate climate action
28 Jun 2021 / The Green Climate Fund (GCF) is unlocking new climate investment opportunities by signing a partnership agreement with BNP Paribas, the largest European bank and key player in international banking that has become a leader in sustainable finance.
The Accreditation Master Agreement (AMA), a requirement for all GCF Accredited Entities, enables BNP Paribas to propose climate projects for GCF funding.