The French Banking Federation recently published the third edition of “Banking and Climate,” a document devoted to actions taken by French banks in favor of more responsible finance.
What was the global market share of French banks in the placement of green bonds in 2018? How much of their financing was devoted to renewable energy*? To provide answers to these and many other questions, and to provide information about the commitment of French banks to the ecological transition, the French Banking Federation has brought out “Banking and Climate" every two years since 2015, a reference document illustrating concrete initiatives taken by the French banking community in this area. This publication corresponds to the collective commitments made by the Paris financial industry last July to combat global warming and promote a low-carbon economy, as reaffirmed in a manifesto signed on November 26 by six French banks to coincide with the 5th Climate Finance Day and on the eve of COP25 (see article dated November 27). It should be remembered that the French Banking Federation recently signed up to the “Principles for responsible banking,” a financial initiative forming part of the United Nations Environment Program (UNEP FI), also signed by Groupe BPCE and Natixis.
* With 14% of the world market and $15 billion in outstandings, France is the leading issuer of green bonds worldwide. The six major French banks allocated financing worth a total of €38.5 billion to renewable energies in 2018 – including €7.5 billion for Groupe BPCE. Natixis has tripled its outstandings to €1.8 billion.
Banque & climat, publication de la FBF (only in French) document pdf - 1.2 MB