BPCE : un retard climatique qui s’accumule

Reclaim Finance criticizes BPCE for its continued financial support of major oil and gas developers and LNG infrastructure, noting that the bank lacks the ambitious exclusion policies and exposure-reduction targets adopted by other major French banks.

• BPCE continues to provide significant bond financing to major oil and gas companies, including Saudi Aramco, TotalEnergies, and Eni. In 2024, BPCE's support enabled Saudi Aramco to raise 6 billion dollars and TotalEnergies to raise 6.9 billion dollars.
• BPCE is the only major French bank that has not set decarbonization targets based on a percentage reduction in exposure to the oil and gas sector. Instead, it has committed to a 70% reduction in financed emissions for the sector by 2030, a method the document claims can artificially lower figures without reflecting actual emissions.
• The bank maintains strong support for liquefied natural gas (LNG) expansion, including 7.7 billion dollars in capital raises for Energy Transfer in 2024 and support for the initial public offering of Venture Global LNG.
• BPCE's LNG exclusion policy is limited to greenfield export terminals fed by more than 25% shale gas, which fails to cover brownfield terminal extensions such as Sabine Pass LNG. Furthermore, unlike 11 of the 20 largest European banks and all other major French banks, BPCE has not ended direct financing for all oil and gas upstream activities.

APA

Manickawasagar, A. (2025). BPCE : un retard climatique qui s’accumule. Reclaim Finance. https://reclaimfinance.org/site/2025/04/10/bpce-un-retard-climatique-qui-saccumule/

Chicago

Manickawasagar, Aatiraï. BPCE : un retard climatique qui s’accumule. Reclaim Finance, 2025. https://reclaimfinance.org/site/2025/04/10/bpce-un-retard-climatique-qui-saccumule/.

Wikipedia

{{cite press release |last1=Manickawasagar |first1=Aatiraï |title=BPCE : un retard climatique qui s’accumule |publisher=Reclaim Finance |date=10 April 2025 |url=https://reclaimfinance.org/site/2025/04/10/bpce-un-retard-climatique-qui-saccumule/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{manickawasagar2025bpce, author = {Manickawasagar, Aatiraï}, title = {{BPCE : un retard climatique qui s’accumule}}, publisher = {Reclaim Finance}, year = {2025}, month = apr, url = {https://reclaimfinance.org/site/2025/04/10/bpce-un-retard-climatique-qui-saccumule/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }