The 3 major French banks – BNP Paribas, Société Générale and Crédit Agricole – have allocated more than US$ 300 billion to fossil fuels since the Paris Agreement. The situation is not much better for French insurers and investors, the majority of whom continue to fuel the expansion of the oil and gas sector. While more and more of them are committed to achieving carbon neutrality by 2050 on a 1.5°C trajectory, most continue to deny the scientific findings. Here is a brief overview of the false arguments used by the big names in French finance to justify their climate inaction.
