Pre-AGM decryption ↓
While we revealed a few weeks ago that BNP Paribas was the leading European supporter of the 100 companies developing the most fossil fuels, with $55.6 billion granted since the Paris Agreement (1), BNP Paribas has announced new commitments (2) ahead of its general meeting. Despite notable improvements, BNP Paribas can still support major and diversified oil and gas companies. These companies are developing new oil and gas fields and infrastructures and, far from being in transition, are exceeding their carbon budget compatible with a +1.5°C scenario. With the 2022 AGM season in full swing, BNP Paribas must seize the opportunity to announce an end to its support for oil and gas expansion and as a shareholder, vote against the false climate plans of fossil fuel companies.