While we cannot comment the data linked to our clients on a case-by-case basis, for confidentiality reasons, we welcome the opportunity to bring you more information on the actions taken by our Group to fight against deforestation in the frame of our financing and investment activities.

We would like to assure you that BNP Paribas is well aware that the fight against deforestation is a priority issue, in particular to protect biodiversity and act against climate change.

This is why, as early as in 2010, the Group has implemented financing and investment sectoral policies to address ESG risks, including those related to deforestation (in the Agriculture, Wood pulp and Palm oil sectors, for instance).

Also, in line with its CSR commitments, BNP Paribas has included in its vigilance approach (“Duty of Care”/ “Vigilance Plan” and “Vigilance Approach”, Section VII of our Universal registration document 2022) the risk of harm to the environment, and in particular the issue of deterioration of ecosystems and biodiversity.

And our Agriculture sector policy was revised in April 2021 with regard to the specific issue of deforestation linked to soy and beef in the Brazilian Amazon and Cerrado regions. BNP Paribas strengthened its financing and investment criteria to accelerate the progress of its customers in terms of fighting against deforestation and ensuring traceability.

As part of this policy, BNP Paribas will only provide financial products or services to companies (producers, meat conditioners and traders) having a strategy towards zero deforestation in their production and supply chains by 2025 at the latest...

In parallel, the Group monitors producers and traders’ activities, asking to demonstrate progress on specific points by 2025...

In the soy and beef sectors, BNP Paribas is engaged in a strong dialogue with its clients to accompany and encourage their transition towards more sustainable and responsible activities. In the frame of its Agriculture policy, its clients and their progresses are being assessed every year. In the case of a possible misalignment, the companies are placed under a monitoring or a restriction-of-activity list. And eventually we can decide to end the relationship if they fail to comply with the Group’s standards and commitments.

This policy has already led to concrete positive impacts, as some top tier actors with whom BNP Paribas has set up a dialogue already have brought forward their zero-deforestation target from 2030 to 2025.

With this reinforcement of its policy BNP Paribas is the first and only international bank to have adopted such precise, stringent and timebound requirements for soy and beef in these regions in terms of no deforestation and traceability...

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