As a founding member of the Net-Zero Banking Alliance, BNP Paribas no longer provides financing dedicated to the development of new oil and gas fields and continues to decarbonise its loan portfolio. The Group is now presenting its new emission reduction targets for the steel, cement and aluminium sectors in its Climate Report.

Accelerating financing for low-carbon energy 

BNP Paribas, which has been in the process of exiting fossil fuels for several years, is accelerating the financing of low-carbon energy. At the end of September 2022, the Group’s financing for these projects was already 20% higher than that of fossil fuels, with the objective of devoting 80% of its financing to low-carbon energy by 2030. BNP Paribas no longer provides any financing dedicated to the development of new oil and gas fields regardless of the financing methods. The Group has also updated its oil and gas sector policy to reflect this.

Supporting the economy's transition

To support the economy in its transition to low-carbon, BNP Paribas acts to limit greenhouse gas emissions from its loan portfolios. The Group thus makes strong commitments, aligned with the International Energy Agency’s “Net-zero 2050” scenario, in the sectors with the highest emissions.