According to the latest figures published by the French Banking Federation (FBF) on the financing of the energy sector by French banks, the latter are “leaders in financing the energy transition”. Despite a doubling of outstandings in vaguely-defined “green and sustainable loans”, they are still a long way from financing the energy transition at the pace and in the proportions outlined by the International Energy Agency (IEA). Moreover, they continue to support fossil fuel expansion, particularly Crédit Agricole and BPCE, which lag behind BNP Paribas and Société Générale in financing oil and gas projects.
