In 2022, the group committed to decarbonising its portfolio in three key
sectors: oil and gas, power generation and automotive. In 2023, new targets
were set for the steel, aluminium and cement production sectors. Today, the bank added aviation, shipping
and commercial real estate.
By 2030, BNP
Paribas is targeting an 18% reduction in its portfolio emissions intensity for
air transport compared with the 2022 baseline, a reduction of at least 23% for
maritime transport and at least 31% for commercial property compared with 2022
as well.
The bank has been
a signatory to the Poseidon Principles for the past four years. The principles
establish a common framework to quantitatively assess and disclose whether
financial institutions’ lending portfolios are in line with climate goals set
by the International Maritime Organization (IMO).