BNP Paribas, bras armé des majors pétrolières et gazières expansionnistes

Reclaim Finance criticizes BNP Paribas for continuing to finance the expansion of oil and gas despite a pledge to reduce its exposure by 10% between 2020 and 2025. The organization argues that this target is inadequate given the climate emergency and is undermined by the bank's previous funding surges and the exclusion of equity and bond issuances from the commitment. Furthermore, the document highlights that BNP Paribas remains a top financier for majors like Shell, BP, Eni, and Total, contributing to the growth of high-risk sectors such as oil sands, shale gas, and Arctic drilling.

• BNP Paribas's commitment to reduce its exposure to oil and gas production by 10% between 2020 and 2025 is deemed insufficient because it only covers loans and excludes the issuance of shares and bonds, which constitute the majority of the bank's support for the sector.
• The bank's 10% reduction target is contrasted with its recent funding history, including a 41% increase in fossil fuel support in 2020 and a 75% jump between 2018 and 2019, leading to its status as the European bank providing the most financing for fossil fuels and their expansion globally.
• Despite having restrictive policies for high-risk sectors, BNP Paribas increased its support for oil sands sevenfold between 2019 and 2020 and was the world's largest increaser of financing for shale oil and gas during the same period.
• BNP Paribas is identified as a primary financier for major oil and gas companies, ranking as the top financier for Shell, BP, and Eni, and the second largest for Total between 2016 and 2020.
• The bank is among the 20 most involved banks globally in Arctic drilling as of 2020, supporting companies like Total in accessing reserves that could consume nearly a quarter of the carbon budget by 2050 if exploited.

APA

admin (2021). BNP Paribas, bras armé des majors pétrolières et gazières expansionnistes. Reclaim Finance. https://reclaimfinance.org/site/2021/05/17/bnp-paribas-bras-arme-petrole-gaz/

Chicago

admin. BNP Paribas, bras armé des majors pétrolières et gazières expansionnistes. Reclaim Finance, 2021. https://reclaimfinance.org/site/2021/05/17/bnp-paribas-bras-arme-petrole-gaz/.

Wikipedia

{{cite press release |last1=admin |title=BNP Paribas, bras armé des majors pétrolières et gazières expansionnistes |publisher=Reclaim Finance |date=17 May 2021 |url=https://reclaimfinance.org/site/2021/05/17/bnp-paribas-bras-arme-petrole-gaz/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2021bnp, author = {admin}, title = {{BNP Paribas, bras armé des majors pétrolières et gazières expansionnistes}}, publisher = {Reclaim Finance}, year = {2021}, month = may, url = {https://reclaimfinance.org/site/2021/05/17/bnp-paribas-bras-arme-petrole-gaz/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }