Antoine Sire - BNP Paribas (English version): The role of banks in sustainable consumption and environmental protection

As a leading international banking player, how can and should we address environmental and societal issues in order to rethink our business and have a positive impact?  

In 2017, it was with this objective in mind that Antoine Sire returned to the BNP Paribas Group and became Head of Company Engagement BNP Paribas Group. 

Indeed, he devoted himself to writing a book on cinema, having been Director of Communication at BNP Paribas for 16 years.  

Throughout this episode of On The Way, Antoine Sire shares his experience and the role of BNP Paribas in supporting the transition to a low-carbon economy. 

He explains that the work began from a societal and social perspective. BNP Paribas has formed an important partnership with many associations working for social inclusion.  

In 2010, awareness of the importance of environmental issues is growing, with the creation of the “Climate & Biodiversity Initiative” by the BNP Paribas Foundation, in order to financially support research on climate change. This initiative allowed the bank to better understand climate issues and to highlight that the model based on the use of natural resources without limits is no longer viable. 

Antoine Sire also sheds light on the role of banks in supporting the economy, in particular by granting loans to businesses and individuals. Energy demand has been increasing since the beginning of industrialization. The demand for funding to meet this demand is therefore correlated and growing. From now on, BNP Paribas has made strong commitments to switch its outstanding loans to finance fossil fuels to low-carbon energies.  

Antoine Sire also explains how the BNP Paribas Group is structured to support the low-carbon transition of all its clients, including the creation of the Low-Carbon Transition Group led by Séverine Mateo. This group, which will eventually have 250 expert employees, is
dedicated to:  

• to large corporate clients, to support them in their transition through the decarbonation of  their activities and investment in new activities; 
• Innovative companies that are accelerating the transition, to support them in their development;  
• to institutional investors, to steer the deployment of their capital towards the low-carbon transition.   

BNP Paribas also deploys a model by which each company is evaluated not only on financial criteria but also on criteria related to: climate, biodiversity, respect for human rights, local impact and business ethics. 

During his testimony at our microphone, Antoine Sire emphasizes the importance of the transformation that we must all do and reminds us that the bank is at the heart of all these transformations since it is obvious that more responsible consumption is absolutely central. Consumption is based on the acquisition of more responsible goods and relies on new modes of consumption such as leasing, the circular economy, or the improvement of housing. 

Discover in this episode Antoine Sire’s journey, his ecological awakening and the evolution of the BNP Paribas Group towards more sustainable and responsible activities, as well as the challenges and challenges ahead.    

Very nice listening!

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