BNP Paribas

BNP Paribas is a French bank that offers services in corporate and investment banking, private banking and asset management. It operates in 74 countries.^[1]

BNP Paribas’ Defence & Security Sector Policy states: “BNP Paribas does not wish to be involved in the provision of financial products and services or investments in companies involved in the manufacture, trade or storage of “controversial weapons”, or any other activity involving controversial weapons.” This includes all specifically designed components that represent a significant building block in the functioning of the weapon. BNP Paribas considers nuclear weapons to be controversial weapons. However, the bank adds that its policy does not apply to companies that contribute only to nuclear weapon programs in NATO Member States.^[2] BNP defines a nuclear weapon as “a device that is capable of releasing nuclear energy in an uncontrolled manner and which has a group of characteristics that are appropriate for use for warlike purposes.” This definition is drawn from the Treaty for the Prohibition of Nuclear Weapons in Latin America and the Caribbean (Treaty of Tlatelolco).^[3]

The exclusion policy applies to all of the Group’s business lines and countries where it is present.^[4] The policy covers only new clients and new financing agreements.^[5] Existing loan contracts not in compliance with BNP Paribas’ policies are discussed with clients and can be terminated within a specific timeframe.^[6] An exception is made for assets managed on behalf of third parties and for passively managed funds. Additionally, the exclusion policy does not apply to BNP Paribas’ external asset managers, although BNP Paribas encourages them to implement similar standards.^[7]

BNP Paribas currently excludes around 140 controversial weapon producers. It does not publish the list.^[8]

BNP Paribas was also found to have several investments in nuclear weapon producing companies identified by this report, details can be found in the Hall of Shame.

[1] BNP Paribas, “About the Group”, website BNP Paribas (https://group.bnpparibas/en/group), viewed 23 January 2018.

[2] BNP Paribas, “Corporate Social Responsibility Sector Policy – Defence”, p.5 and 6, website BNP Paribas (https://www.bnpparibasfortis.com/docs/default-source/our-responsibilty/en/csr-sp-001-en-defence.pdf?sfvrsn=4), viewed 23 January 2018.

[3] BNP Paribas, “Corporate Social Responsibility Sector Policy – Defence”, p.9, website BNP Paribas (https://www.bnpparibasfortis.com/docs/default-source/our-responsibilty/en/csr-sp-001-en-defence.pdf?sfvrsn=4), viewed 23 January 2018.

[4] BNP Paribas, “Corporate Social Responsibility Sector Policy – Defence”, p.3, website BNP Paribas (https://www.bnpparibasfortis.com/docs/default-source/our-responsibilty/en/csr-sp-001-en-defence.pdf?sfvrsn=4), viewed 23 January 2018; BNP Paribas, “Financing and investment policies”, website BNP Paribas (https://group.bnpparibas/en/financing-investment-policies), viewed 23 January 2018.

[5] BNP Paribas, “Corporate Social Responsibility Sector Policy – Defence”, p.3, website BNP Paribas (https://www.bnpparibasfortis.com/docs/default-source/our-responsibilty/en/csr-sp-001-en-defence.pdf?sfvrsn=4), viewed 23 January 2018.

[6] BNP Paribas, written response to Profundo dated 22 July 2014.

[7] BNP Paribas, “Corporate Social Responsibility Sector Policy – Defence”, p.4, website BNP Paribas (https://www.bnpparibasfortis.com/docs/default-source/our-responsibilty/en/csr-sp-001-en-defence.pdf?sfvrsn=4), viewed 23 January 2018; MSCI, “MSCI ESG Ex Controversial Weapons”, available at (https://www.msci.com/eqb/methodology/meth_docs/MSCI_Global_ex_Controversion_Weapons_Indices_Methodology_June2011.pdf), viewed 23 January 2018.

[8] BNP Paribas, written response to Profundo dated 20 October 2015, BNP Paribas, written response to PAX dated 16 December 2016.

Last updated March 2018