CLIMAT

Vinci and other companies have different strategies for reducing their carbon footprint. Some are profitable, while others are not. Because investment is 400 million. Can you please give an order of magnitude between profitable and unprofitable investments?

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Continue ReadingVinci and other companies have different strategies for reducing their carbon footprint. Some are profitable, while others are not. Because investment is 400 million. Can you please give an order of magnitude between profitable and unprofitable investments?

Report show that MS provided 153$ billion for fossil fuels companies making it one of the world’s top financers of fossil fuels in the seven years since the adoption of the Paris Climate Agreement which the firms claims to support. How do MS reconcile continued financing for fossil fuel expansion with its commitment to reach net-zero by 2050

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Continue ReadingReport show that MS provided 153$ billion for fossil fuels companies making it one of the world’s top financers of fossil fuels in the seven years since the adoption of the Paris Climate Agreement which the firms claims to support. How do MS reconcile continued financing for fossil fuel expansion with its commitment to reach net-zero by 2050

You are very involved in technical activities, and now you are also venturing into renewable energy, particularly hydrogen. These activities require a high level of technical expertise, and with your expansion, will you be able to find the necessary technical skills in the market? We know that such skills are becoming increasingly scarce, so are you not taking any risks in this regard?

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Continue ReadingYou are very involved in technical activities, and now you are also venturing into renewable energy, particularly hydrogen. These activities require a high level of technical expertise, and with your expansion, will you be able to find the necessary technical skills in the market? We know that such skills are becoming increasingly scarce, so are you not taking any risks in this regard?

Integrity matters: Net Zero Commitments by businesses, financial institutions, cities and regions” published in November 2022. ▪ Do you plan to apply these criteria to assess the quality of these transition plans as well as to assess their alignment measures? ▪ Do you include exclusionary clauses in your financing and/or investment contracts related to certain activities due to their GHG emissions and/or climate impact, more generally. If yes, are any oil and gas companies affected?

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Continue ReadingIntegrity matters: Net Zero Commitments by businesses, financial institutions, cities and regions” published in November 2022. ▪ Do you plan to apply these criteria to assess the quality of these transition plans as well as to assess their alignment measures? ▪ Do you include exclusionary clauses in your financing and/or investment contracts related to certain activities due to their GHG emissions and/or climate impact, more generally. If yes, are any oil and gas companies affected?

As already mentioned above, the DEU states that “In January 2023, […] BNP Paribas has set itself a target of reducing its credit exposure to oil exploration and production to less than EUR 1 billion by 2030, i.e. a reduction of more than 80% compared with the current exposure of EUR 5 billion at the end of September 2022. This reduction will be pursued through the cessation of This reduction will be pursued through the discontinuation of indirect financing as well as the financing of specialized and associated activities in this sector.” (DEU 2022, p. 644). Why is the commitment to “stop indirect funding” not included in the vigilance plan as a measure to prevent serious harm? You recognize in your plan of vigilance the need to aim for “net zero by 2050”, “which corresponds to a temperature increase limited to 1.5°C compared to the pre-industrial era” (p. 700) and to implement the measures required to achieve it. However, the measures announced in your vigilance plan (p. 701) do not comply with the recommendations detailed in the above-mentioned UN-HLEG report, neither in terms of stopping financing and investment in fossil fuels, nor in terms of reducing greenhouse gas emissions. o Do you intend to make the continuation of your financial support to companies conditional on their renouncing the development of new oil and gas projects? o Do you intend to apply the recommendations of the UN-HLEG report?

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Continue ReadingAs already mentioned above, the DEU states that “In January 2023, […] BNP Paribas has set itself a target of reducing its credit exposure to oil exploration and production to less than EUR 1 billion by 2030, i.e. a reduction of more than 80% compared with the current exposure of EUR 5 billion at the end of September 2022. This reduction will be pursued through the cessation of This reduction will be pursued through the discontinuation of indirect financing as well as the financing of specialized and associated activities in this sector.” (DEU 2022, p. 644). Why is the commitment to “stop indirect funding” not included in the vigilance plan as a measure to prevent serious harm? You recognize in your plan of vigilance the need to aim for “net zero by 2050”, “which corresponds to a temperature increase limited to 1.5°C compared to the pre-industrial era” (p. 700) and to implement the measures required to achieve it. However, the measures announced in your vigilance plan (p. 701) do not comply with the recommendations detailed in the above-mentioned UN-HLEG report, neither in terms of stopping financing and investment in fossil fuels, nor in terms of reducing greenhouse gas emissions. o Do you intend to make the continuation of your financial support to companies conditional on their renouncing the development of new oil and gas projects? o Do you intend to apply the recommendations of the UN-HLEG report?