French banks are stepping up in the fight against global warming.
A little less than two weeks before the COP26 in Glasgow, the UN climate conference, the six largest French networks - BNP Paribas, BPCE, Crédit Agricole, Crédit Mutuel, Société Générale and La Banque Postale - are committed to no longer finance new projects linked to unconventional hydrocarbons - oil, shale gas and tar sands - from January 2022. These hydrocarbons are mainly exploited in the United States and Canada.
At the same time, these banks will no longer finance energy companies whose share of unconventional hydrocarbons represents more than 30% of their activity.
As they did for coal (released in 2030 in OECD countries and 2040 in the rest of the world), French institutions will decide in 2022 on the date from which they will no longer hold a portfolio of loans. related to shale oil.
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