Analysis of commitments taken in May 2020 by from French banks and investors

The report analyzes the coal and shale oil and gas policies announced in May 2020 by BNP Paribas, Natixis, Rothschild & Co, Société Générale, and Crédit Agricole. It concludes that while some institutions like Natixis have made progress toward coal phase-out, many commitments remain insufficient due to narrow scopes, the exclusion of oil and gas majors, or a lack of firm disinvestment strategies. Notably, Société Générale is criticized for postponing action and continuing to support shale gas development.

• BNP Paribas committed to reducing its coal-fired power generation exposure to zero by 2030 for EU and OECD countries and by 2040 worldwide, but the report argues this fails as a coal exit because it excludes the mining sector and companies developing new infrastructure.
• Natixis is identified as having a more comprehensive coal phase-out strategy than BNP Paribas and Société Générale, covering both mining and power generation sectors with a 2030 deadline for EU/OECD and 2040 worldwide.
• Rothschild & Co introduced its first coal policy, excluding new investments in companies with more than 30% turnover from thermal coal or those exceeding 20 MT annual production, though the report notes this is a commitment to no longer invest rather than a disinvestment of existing assets.
• Société Générale is criticized for failing to meet the mid-2020 deadline for coal exit strategies and for actively supporting shale gas, which it presents as a solution for the energy transition.
• Crédit Agricole and Natixis introduced restrictions on shale oil and gas, but the report claims these are insufficient because they ignore oil and gas majors and the transport value chain, such as LNG terminals.

APA

Reclaim Finance (2020). Analysis of commitments taken in May 2020 by from French banks and investors. https://reclaimfinance.org/site/wp-content/uploads/2020/05/commitments-from-french-banks-and-investors-in-may-2020.pdf

Chicago

Reclaim Finance. Analysis of commitments taken in May 2020 by from French banks and investors. 2020. https://reclaimfinance.org/site/wp-content/uploads/2020/05/commitments-from-french-banks-and-investors-in-may-2020.pdf.

Wikipedia

{{cite report |author=Reclaim Finance |title=Analysis of commitments taken in May 2020 by from French banks and investors |date=20 May 2020 |url=https://reclaimfinance.org/site/wp-content/uploads/2020/05/commitments-from-french-banks-and-investors-in-may-2020.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{reclaimfinance2020analysis, author = {{Reclaim Finance}}, title = {{Analysis of commitments taken in May 2020 by from French banks and investors}}, institution = {Reclaim Finance}, year = {2020}, month = may, url = {https://reclaimfinance.org/site/wp-content/uploads/2020/05/commitments-from-french-banks-and-investors-in-may-2020.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }