GlobeNewswire

BNP Paribas takes further measures to accelerate its support of the energy transition

Del
  • The BNP Paribas Group will no longer do business with companies whose principal business activity is the exploration, production, distribution, marketing or trading of oil and gas from shale and/or oil from tar sands.
  • BNP Paribas is also ceasing financing of projects that are primarily involved in the transportation or export of oil and gas from shale or oil from tar sands.
  • The Group will not finance any oil or gas exploration or production projects in the Arctic region.
  • BNP Paribas will continue to actively support clients in the energy sector who are committed to being part of the energy transition.
  • These new measures complement the Group's previous decisions to reduce its support for coal mines and coal-fired power generation, to increase its total financing for renewable energy to €15 billion by 2020, and to set aside €100 million for investment in start-ups working on innovative solutions for energy transition.

PARIS, Oct. 11, 2017 (GLOBE NEWSWIRE) -- BNP Paribas is committed to bringing its financing and investment activities in line with the International Energy Agency (IEA) scenario, which aims to keep global warming below 2°C by the end of the century. To achieve this goal, the world must reduce its dependence on fossil fuels, starting with oil and gas from shale and oil from tar sands whose extraction and production emits high levels of greenhouse gases and has harmful effects on the environment.

Accordingly, BNP Paribas is today announcing a new global financing policy with regard to the exploration, production and transport of non-conventional hydrocarbons:

BNP Paribas will no longer do business with companies focused on oil and gas from shale and oil from tar sands operations, this will include:

  • Business relations with producers primarily engaged in the exploration and production of oil and gas from shale and/or oil from tar sands
  • Business relations with clients primarily engaged in the distribution, marketing or trading of oil and gas from shale and/or oil from tar sands.

BNP Paribas will no longer finance projects that are mainly involved in the transportation and export of oil and gas from shale and oil from tar sands

  • No financing of LNG terminals that predominantly liquefy and export gas from shale,
  • No financing of pipelines that primarily carry oil and gas from shale and/or oil from tar sands, and no business relations with companies that derive the majority of their revenue from these activities.

BNP Paribas will not finance oil or gas exploration or production projects in the Arctic region.

These measures mean that BNP Paribas will gradually cease to finance a significant number of players who are not actively part of a transition to a lower carbon economy. The Group will continue to support its clients in the energy sector who are taking significant steps towards energy transition.

Jean-Laurent Bonnafé, Chief Executive Officer of BNP Paribasstated: "We're a long-standing partner to the energy sector and we're determined to support the transition to a more sustainable world. As an international bank, our role is to help drive the energy transition and contribute to the decarbonisation of the economy. As we have announced, we're committed to working with and supporting those energy sector partners who have decided to make environmental issues a central part of their business policy."

These far-reaching measures will reinforce the actions already taken by the Group to combat climate change, notably in the energy sector:

  • A target of €15 billion in financing for renewable energy projects by 2020,
  • Investment totalling €100 million in start-ups specialising in energy transition (energy storage, energy efficiency, etc.),
  • A highly ambitious policy on Green Bonds,
  • Withdrawing from financing of coal mines and coal-fired power plants, and no longer supporting coal energy sector companies that are not pursuing a policy of diversifying their energy sources.            

Read Jean-Laurent Bonnafé's editorial on LinkedIn: 
www.linkedin.com/in/jean-laurent-bonnafe

About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.

Press contacts:

Group BNP Paribas
Julia Boyce - +33 (0)1 43 16 82 04 -  julia.boyce@bnpparibas.com
Coralie France-Savin - +33 (0)1 40 14 94 89 -  coralie.francesavin@bnpparibas.com                      

Renato Martinelli - +33 (0)1 58 16 84 99 -  renato.martinelli@bnpparibas.com
Sarah Worsley - +33 (0)1 40 14 65 14 -  sarah.worsley@bnpparibas.com

BNP Paribas USA
Mylene Benmoussa - +1 212 841 2351 -  mylene.benmoussa@us.bnpparibas.com         

BNP Paribas UK
Alexandra Umpleby - +44 207 5952436 -  alexandra.umpleby@uk.bnpparibas.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BNP Paribas Securities Corp. via Globenewswire

Om GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Følg saker fra GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra GlobeNewswire

RCI Banque S.A.: Post Stabilisation Notice18.12.2018 15:55Pressemelding

PARIS, Dec. 18, 2018 (GLOBE NEWSWIRE) -- 18th December 2018 RCI Banque S.A. Post Stabilisation Notice HSBC (contact: Syndicate desk, telephone: +44 207 992 8066) hereby gives notice that no stabilisation (within the meaning of the rules of the Financial Conduct Authority) was undertaken in relation to RCI Banque S.A. GBP Fixed due 30th Oct 2023 because the transaction did not complete. Issuer: RCI Banque S.A. Guarantor (if any): NA Aggregate nominal amount: GBP Benchmark Description: Fixed due 30th Oct 2023 Offer price: na Stabilising Managers: HSBC, Lloyds, Natwest This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and condit

The North American Bitcoin Conference Stands Out as One of 2019’s Most Important Worldwide Crypto Events18.12.2018 15:35Pressemelding

MIAMI, Dec. 18, 2018 (GLOBE NEWSWIRE) -- via CryptoCurrencyWire – 2019 will kick off with what has become widely accepted as one of the most important blockchain conferences of the year. The North American Bitcoin Conference, sponsored by Keynote and part of the World Blockchain Forum, will take place Jan. 16-18, 2019, at the James L. Knight Center in Miami, Florida. This premier crypto conference, now in its seventh year, will draw cryptocurrency and blockchain leaders from all across the globe as they come together for this historical event. The North American Bitcoin Conference is the longest-running, most-attended finance conference for the blockchain and crypto industries, with each event attracting thousands of attendees. The 2019 conference will feature a lineup of more than 60 world-class presenters, including technology veterans and company founders who have collectively raised more than $18.1 billion in initial coin offerings (ICOs). Speakers that have been announced thus far

Inspirata Subsidiary, Artificial Intelligence in Medicine (AIM), Signs Contract with the National Cancer Institute (NCI) to Use Its E-Path Reporter Software for Reporting by U.S. Central Cancer Registries18.12.2018 15:06Pressemelding

The NCI has licensed AIM’s E-Path Reporter software for the last 15 years to provide an automated solution that enables cancer registries to more efficiently collect and report cancer incidence and survival data. Toronto, CA, Dec. 18, 2018 (GLOBE NEWSWIRE) -- Artificial Intelligence In Medicine Inc. (AIM), an Inspirata company, announced today that the National Cancer Institute (NCI) has extended its license agreement for AIM’s E-Path Reporter software. The software has been licensed for use within the SEER (Surveillance, Epidemiology and End Results) program, for 14 central registries and 286 major reporting hospitals and laboratories across the U.S. NCI supports cancer data collection and research through the SEER program and publishes cancer statistics for 20 U.S. geographic areas. The NCI requires participating cancer registries to collect data on cancer patient demographics, primary tumor site, tumor morphology and disease stage at diagnosis. The registries also must report on fir

Crown Bioscience Creates Center of Excellence for Bioinformatics, Big Data, and Biomarker Discovery Services18.12.2018 14:30Pressemelding

Services and Capacity Increase with New Site Opening SAN DIEGO, Dec. 18, 2018 (GLOBE NEWSWIRE) -- Crown Bioscience, a global drug discovery and development services company providing translational platforms to advance oncology, inflammation, cardiovascular and metabolic disease research, has recently announced the expansion of its existing translational oncology research capacity by opening a new site in Suzhou, Jiangsu, China. The large amount of data now available from preclinical and clinical research requires specialized expertise in bioinformatics, big data analysis and dedicated storage facilities. CrownBio’s new site will focus on integrating the company’s experience in preclinical and translational research with cutting-edge digital technologies for the discovery of predictive biomarkers and the development of new and companion diagnostics. The Suzhou site will become CrownBio’s center of excellence for systems biology and clinical sample testing. Located at the heart of the Bi

Family of Constant-Current Dimmable Buck LED Drivers18.12.2018 11:00Pressemelding

1.5A, 3A Buck LED Drivers Target ISO26262 automotive and industrial applications MILPITAS, Calif., Dec. 18, 2018 (GLOBE NEWSWIRE) -- AMS, the Analog Mixed-Signal division of ISSI, has introduced a family of switching buck LED Drivers for automotive and industrial applications. This family of highly integrated switching constant current buck LED Drivers are targeted for 12V/24V battery connected, space-constrained, electromagnetic (EMC) sensitive applications such as Headlight, Front and Rear Fog lights, Day time Running lights to name a few. The device family supports a wide DC voltage input range of 4.5V to 38V and outputs a 5% regulated current of 1.5A or 3A; depending on the particular device, see table. The integrated power MOSFET is configured to switch in the constant on-time mode delivering true average current. Switching at a frequency of up to 2MHz which is adjustable with an external resistor, these buck LED Drivers can use smaller output inductor and capacitor values thereby

John Charman Appointed Chief Executive Officer of Sompo Holdings Overseas Insurance Business and Nigel Frudd Appointed as Chief Executive Officer of Sompo International18.12.2018 10:13Pressemelding

Mr. Charman and Mr. Frudd to Join Sompo Holdings New Global Executive Committee PEMBROKE, Bermuda, Dec. 18, 2018 (GLOBE NEWSWIRE) -- Sompo International Holdings Ltd. (Sompo International), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that effective April 1, 2019, Mr. John Charman, currently Chairman of the Board of Directors and Chief Executive Officer of Sompo International, will be promoted to Chief Executive Officer of Overseas Insurance Business in Sompo Holdings, Inc. (Sompo Holdings). This segment of Sompo Holdings’ business currently represents more than 27% of Sompo Holdings Group’s adjusted profit, employing around 9,000 people in 30 countries and regions and is projected to have more than $10 billion in gross premiums by 2020. In such capacity, Mr. Charman will join the new Global Executive Committee of Sompo Holdings (Global ExCo) which will be established in April 2019 to provide expertise and input on group-wide st