U.S., Nov. 26 -- Leading multinational bank BNP Paribas has announced that it is fully committed to the decarbonisation of its portfolio, taking the decision to end all thermal coal investments and interests by 2030 in the European Union (EU) and worldwide by 2040.
The bank has not funded any new coal fired power plant projects since 2017, and is seeking to cut CO2 emissions by 85% across its global electricity generation portfolio between 2014 and 2040.
Its sustainable investment strategy focuses on three areas of action: energy transition, environmental sustainability, and equality and inclusive growth. Divestment from companies whose operations are counter to progress in each of these areas, and the firm will continue to publish an an...