12 May 2020

BNP Paribas Accelerates Its Exit from Coal in OECD Countries

12 May 2020  by Reuters   

French bank BNP Paribas is expanding to all OECD countries its target to end relationships with customers that use coal to generate electricity by end 2030, it said in a statement on Monday.

It said it will continue its commitment to sever links with all customers developing new coal-based production capacity in the near future, and will no longer accept any new customers that generate more than 25% of their revenue from coal-related activities.

This policy will cut by half the number of BNP Paribas corporate customers using coal to generate electricity, it said.

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