BNP Paribas

InfluenceMap Score
C-
Performance Band
69%
Organisation Score
48%
Relationship Score
Sector:
Financials
Head​quarters:
Paris, France
Brands and Associated Companies:
BNP Paribas Asset Management, BNP Paribas CIB, BNP Paribas Securities Services
Official Web Site:
Wikipedia:

BNP Paribas appears to be a leader in advocating for regulation on sustainable finance, with subsidiary BNP Paribas Asset Management contributing a significant proportion of its policy engagement. In general, engagement from BNP Paribas Asset Management appears to be more supportive on sustainable finance policy than the group-level engagement.

BNP Paribas Asset Management has called for reform to achieve a sustainable financial system and has stated support for limiting global warming to 1.5 degrees. Both BNP Paribas and BNP Paribas Asset Management have also advocated for action to reach net-zero by 2050, participating in a number of investor initiatives advocating to EU leaders and the UK’s Prime Minister in 2020. Since 2018, BNP Paribas Asset Management has consistently supported the aims of the EU's Sustainable Finance Action Plan, with some examples of support from other parts of the group including BNP Paribas Securities Services. It has urged the Commission to "accelerate the systemic sustainability transition of the EU financial sector" and called for European institutions to lead the private sector in delivering the goals of the Paris Agreement.

BNP Paribas Asset Management has been particularly engaged in promoting the taxonomy in 2018-20. This has included on its website and social media posts. According to minutes accessed through a Freedom of Information request, BNP Paribas advocated for a rigorous science-based taxonomy in a meeting with the European Commission in 2019. More recently, in feedback to the European Commission's consultation on the Renewed Sustainable Finance Strategy in 2020, BNP Paribas opposed the development of a taxonomy of environmentally harmful activities. In response to the Commission in 2021, BNP Paribas also argued for taxonomy disclosures to be phased in and not to be too granular in a first stage.

In 2018-19, BNP Paribas also stated top-line support for the creation of an EU Green Bond Standards and BNP Paribas Asset Management stated support for the EU Ecolabel and EU climate benchmarks. In feedback to the European Commission's consultation on the Renewed Sustainable Finance Strategy in 2020, BNP Paribas supported the verification for the EU Green Bond Standard, and suggested that an ESG label or range of labels targeted to all investors should be established. However, it did not support the development of a broader ESG benchmark by the Commission and suggested minimum standards instead.

BNP Paribas Asset Management has supported clarifying investor duties to include ESG issues and has also strongly advocated for policies which would implement this, including ESG investor disclosure and integrating ESG preferences into suitability assessments. However, in response to the ESAs’ consultation on investor ESG disclosure in 2020, BNP Paribas Asset Management argued against the stringency of the proposed indicators. In more recent 2020 blogs, both BNP Paribas Asset Management and BNP Paribas Securities Services supported the EU’s disclosure regulation.

In feedback to the European Commission in 2020, BNP Paribas further supported incorporating adverse ESG impacts into fiduciary duty and considering members’ ESG preferences in pension schemes. In response to the Bank of England on climate change financial risks assessments in 2020, BNP Paribas argued for less granularity in scenario analysis.

BNP Paribas Asset Management has stated support for improved regulated corporate ESG disclosure in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), and in 2020 endorsed a statement to policymakers for an ambitious review of the Non-Financial Reporting Directive. Similarly, in a 2020 blog, BNP Paribas Securities Services supported the need for policy to improve corporate disclosure, such as the NFRD. In a 2021 letter to the SEC, BNP Paribas strongly supported mandatory ESG disclosure, including disclosure on Scope 1, 2, and 3 emissions.

BNP Paribas has a dedicated webpage regarding its sustainable finance policy positions. BNP Paribas Asset Management also has leading disclosure on key policy positions as well as trade association memberships and related governance, but the coverage at the financial group level and across other subsidiaries is more fragmented. The group level disclosure lists trade association memberships without any other details about indirect influence.

QUERIES
DATA SOURCES
10NS211NS
211011NS
11121NSNS
12NS12NSNS
11101NSNS
22NS12NSNS
11NS12NSNS
NSNSNA-1NSNSNS
2NANANANANANA
1NANANANANANA
Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK
 
41%
 
41%
 
58%
 
58%
 
48%
 
48%
 
53%
 
53%
 
53%
 
53%
 
25%
 
25%
 
42%
 
42%
 
37%
 
37%
 
49%
 
49%
 
49%
 
49%
 
43%
 
43%
 
56%
 
56%
 
46%
 
46%
 
41%
 
41%
 
81%
 
81%

How to Read our Relationship Score Map

In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.