"Banks still have not made the transition to the energy transition" (Oxfam France)

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On the eve of Climate Finance Day, which is being held this Wednesday, November 28 at the Palais Brongniart, the Oxfam France association published this Saturday a scathing report on the practices of French banks in terms of financing for the energy sector. As part of the Fair Finance project, the NGO analyzed, with the help of the Dutch firm Profundo, the financing and investments made in 2016 and 2017 by BNP Paribas, Crédit Agricole, Société Générale, BPCE and Crédit Mutuel Alliance. federal government (formerly Crédit Mutuel CM11-CIC) and La Banque Postale.

The study focused on financing and investment operations for 290 energy companies, and their subsidiaries, and 89 renewable energy projects, including equity and bond issues. not corresponding to a type of energy precisely.

" Over the period 2016-2017, BNP Paribas, Societe Generale, Crédit Agricole, BPCE, Crédit Mutuel-CIC and the Postal Bank have financed fossil fuels at 43 billion'euros, against only 12 billion euros for renewable energies, while the climate situation would require'they qu'they do at least l'reverse. Three years after COP21, banks no'have not yet made the transition to the energy transition, despite their beautiful speeches in this sense »Considers Alexander Poidatz, spokesman for'Oxfam France.

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Climate: banks commit, NGOs demand more
Crédit Agricole makes new commitments for the climate
Climate: French banks lead in Europe
BNP Paribas pledges against shale gas and oil