DECRYPTION – Formal notice in October, the bank assures respect of its environmental “duty of vigilance”.
BNP Paribas defends its actions to fight against global warming. The bank has just responded to the three NGOs – Oxfam, Friends of the Earth France and Notre affaires à tous – which had given it formal notice on October 26 on the basis of the law on the duty of vigilance. This 2017 text obliges large companies to identify risks and prevent serious attacks on the environment and human rights.
The NGOs consider that, by financing new fossil projects, BNP Paribas does not respect environmental rights, and therefore goes against its duty of vigilance. They underline that, according to the scientific consensus, any new project for the exploitation of fossil fuels must immediately be stopped in order to comply with the Paris agreement on global warming. According to them, the due diligence measures taken by BNP Paribas “are neither sufficient nor appropriate”. They ask the bank to improve the plan and “stop financially supporting…
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