BNP Paribas Insurance Arm Sets EUR3.5 Billion Green Investment Goal

Date : 18/03/2019 @ 17h57
Source : Dow Jones News
Valeur : BNP Paribas (BNP)
Cours : 53.22  -0.04 (-0.08%) @ 17h40
BNP Paribas Cours Graphique

BNP Paribas Insurance Arm Sets EUR3.5 Billion Green Investment Goal

BNP Paribas (EU:BNP)
Graphique Historique de l'Action

1 an : De Fév 2019 à Fév 2020

Plus de graphiques de la Bourse BNP Paribas
   By Dieter Holger 

BNP Paribas Cardif, the insurance unit of BNP Paribas SA (BNP.FR), said Monday it is aiming for 3.5 billion euros ($3.96 billion) in green investments by the end of 2020, up EUR1.1 billion from its previous goal.

"We believe that insurance companies have an important role to play in supporting the energy transition," said Olivier Hereil, deputy chief executive officer of asset management at BNP Paribas Cardif.

The French insurer in 2017 stated a goal of EUR2.4 billion in green investments by the end of 2020, but has since doubled its green investments in its general funds across European countries, such as France, Italy and Luxembourg. The funds finance the transition away from fossil fuels.

"As an institutional investor, we are pursuing our efforts to fight climate change while combining financial performance and social responsibility," Mr. Hereil said.

Last week, BNP Paribas Asset Management, the fund arm of the banking group, said it would stop investing in companies that earn more than 10% of their revenue from mining thermal coal or account for more than 1% of total global coal production by the start of 2020.

"From an investment perspective the outlook for the coal industry looks increasingly uncertain as less carbon-intensive fuel sources, in particular renewables, become ever-more competitive," said Mark Lewis, global head of sustainability research at BNP Paribas Asset Management.


Write to Dieter Holger at; @dieterholger


(END) Dow Jones Newswires

March 18, 2019 12:42 ET (16:42 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Dernières Valeurs Consultées
Société Gé..
CAC 40
Euro vs Do..
Les dernières valeurs consultées apparaîtront dans cette boîte, vous permettant de choisir facilement les titres vus auparavant.

Inscrivez-vous maintenant pour créer votre liste d'actions personnalisée, en streaming.

Les cours EURONEXT (CAC 40, etc. ) et FOREX (les devises) sont en direct si connecté.
NYSE, AMEX, et ASX sont en différé d'environ 20 minutes. Les autres cours sont en différé d'environ 15 minutes.

En accédant aux services disponibles de ADVFN, vous acceptez les Conditions Générales de ADVFN Conditions Générales

P: V:fr D:20200222 14:23:55