On the other hand, the four major French banks are fully invested in the fight to protect the climate. publicly committed have “Financing a carbon neutral world by 2050”. On the other hand, BNP Paribas, Crédit Agricole, Société Générale and BPCE/Natixis contributed to the financing of approximately ten companies operating carbon bombs in 2022, these oil, gas and coal extraction facilities that emit super CO2.2.
This paradox is highlighted by data compiled by NGOs Eclaircies and Data for Good as part of the survey. CarbonBombs.orgThis makes it possible for the first time to link these carbon bombs to the companies that develop them and the banks that support them.
The banking market is one in which banks rarely directly finance fossil extraction projects. They prefer to make loans to mining companies like TotalEnergies or BP, and they use the funds as they see fit. Although indirect, this financing says: Institutional It is necessary for carbon bombs to work. “Unless we can establish a direct causal link, it is very likely that the loans granted in 2022 contributed to the operation of operational carbon bombs or the development of future projects.”observes Lucie Pinson, director of NGO Recovery Finance.
BNP Paribas at 5to world ranking
The role of French organizations in this economy is central. According to the data in the report, they became the third largest indirect financier of carbon bombs in 2022, after the Americans and the Chinese. Banking Against Climate Chaos », founded by Bloomberg.
BNP Paribas, Crédit Agricole, Société Générale and BPCE/Natixis have donated approximately $18 billion (€17 billion) to 11 major fossil extraction companies in 2022, which can be linked to 51 different carbon bombs. The coal, oil and gas reserves of these fields, spread across 18 countries around the world, are expected to emit 189 billion tons of CO2 equivalent.2 In the air.
In the ranking created by CarbonBombs.org, BNP Paribas ranks fifth globally, behind four Chinese and American giants. The group paid more than $7 billion to 10 separate fossil operators in 2022. 46 carbon bombs. These include French multinational TotalEnergies, Saudi giant Saudi Aramco, Italian energy company Eni and British oil company BP; but is also involved in the exploitation of lesser-known companies such as YPF or Pertamina Persero. The vast Vaca Muerta shale gas complex in Argentinawhich aroused strong opposition from local Mapuche Indian communities.
