LES BANQUES FRANÇAISES : Sponsors du chaos climatique

Reclaim Finance highlights the contradiction between the values promoted by French banks through sports sponsorships and their continued financial support for fossil fuel expansion. The report details the funding provided by BNP Paribas, Crédit Agricole, Société Générale, and BPCE to oil and gas companies and liquefied natural gas (LNG) projects between 2021 and 2024, asserting that such investments are incompatible with the Paris Agreement and IPCC guidelines.

• BNP Paribas is identified as the third European bank supporting oil and gas expansion between 2021 and 2023, providing 23.9 billion dollars to this sector. It has been the primary banker for TotalEnergies and a major supporter of Saudi Aramco and BP, while allocating 8 billion dollars to LNG projects.
• Crédit Agricole ranks as the seventh European bank supporting oil and gas expansion from 2021 to 2023, with 17 billion dollars invested. The bank has financed the Port Arthur LNG project in Texas and serves as a financial advisor for TotalEnergies' Papua LNG project in Papua New Guinea.
• Société Générale is the eighth European bank supporting oil and gas expansion between 2021 and 2023, providing 15.6 billion dollars. It has been the primary banker for Chevron during this period and has allocated 8.1 billion dollars to LNG expansion, including acting as financial advisor for TotalEnergies on the Mozambique LNG project since 2020.
• BPCE is described as the only major French bank still directly financing new gas fields and the only one to participate in TotalEnergies' 2024 bond emissions, which raised 4.25 billion dollars. Since 2021, it has provided 3.8 billion dollars to LNG expansion, including the Plaquemines LNG project in Louisiana.
• The report argues that the banks' policies of allowing loans to oil and gas companies or financing LNG terminals are incompatible with the goal of limiting warming to 1.5°C and the recommendations of the IPCC, which states that no new fossil fuel projects should be developed.

APA

Cros, R., Werlé, N., Mathieu, A., Lehnert, A., Bakaloglou, S., & Gherardi, F. (2024). LES BANQUES FRANÇAISES : Sponsors du chaos climatique. Reclaim Finance. https://reclaimfinance.org/site/wp-content/uploads/2024/06/Les-banques-francaises-Sponsors-du-chaos-climatique.pdf

Chicago

Cros, Raphaël, Noam Werlé, Aurore Mathieu, Anaïs Lehnert, Sarah Bakaloglou, and Florence Gherardi. LES BANQUES FRANÇAISES : Sponsors du chaos climatique. Reclaim Finance, 2024. https://reclaimfinance.org/site/wp-content/uploads/2024/06/Les-banques-francaises-Sponsors-du-chaos-climatique.pdf.

Wikipedia

{{cite report |last1=Cros |first1=Raphaël |last2=Werlé |first2=Noam |last3=Mathieu |first3=Aurore |last4=Lehnert |first4=Anaïs |last5=Bakaloglou |first5=Sarah |last6=Gherardi |first6=Florence |title=LES BANQUES FRANÇAISES : Sponsors du chaos climatique |publisher=Reclaim Finance |date=June 2024 |url=https://reclaimfinance.org/site/wp-content/uploads/2024/06/Les-banques-francaises-Sponsors-du-chaos-climatique.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{cros2024les, author = {Cros, Raphaël and Werlé, Noam and Mathieu, Aurore and Lehnert, Anaïs and Bakaloglou, Sarah and Gherardi, Florence}, title = {{LES BANQUES FRANÇAISES : Sponsors du chaos climatique}}, institution = {Reclaim Finance}, year = {2024}, month = jun, url = {https://reclaimfinance.org/site/wp-content/uploads/2024/06/Les-banques-francaises-Sponsors-du-chaos-climatique.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }