BNP Paribas is taking a step further in financing the transition to a low carbon economy. The Bank will more than double the financing resources allocated to the renewable energy sector, from €6.9bn in 2014 to €15bn in 2020. The Group has also decided to strengthen its policies for the management of carbon risk.
Today there is broad scientific and political consensus that the current trajectory in CO2 emissions must be curbed before 2020 if we are to restrict global warming to a 2ºC increase over pre-industrial levels. In this context, BNP Paribas has decided to further intensify its efforts in this area. BNP Paribas is today committing to support the development of renewable energies by more than doubling its financing of this sector from €6.9bn in 2014 to €15bn in 2020, and continuing at the same time to promote Green Bonds to institutional investors, a market in which BNP Paribas aims to rank among the top three players worldwide for euro-denominated issues by 2018.
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