While its 2022 Annual General Meeting (AGM) had been disrupted by environmental activists and that of 2023 is looming (May 16), BNP Paribas has set new objectives in terms of energy transition. The leading bank in the euro zone definitively stops all financing dedicated to the development of new oil or gas fields.
In January, it had already said that it had not directly financed new oil projects since 2016. However, BNP Paribas will continue to support companies that can develop new fields, without directly financing the project.
Other commitments are on the agenda: the "programmed stoppage" of financing to actors specializing in oil exploration and production and who would not initiate a transition. And "the reduction in the share of generalist credits attributable to oil exploration and production."
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