BNP Paribas : Accelerating corporate sustainability practices through shareholder engagement
October 19, 2022
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Direct dialogue
Direct dialogue activities consist in organising meetings throughout the year with the companies' management teams (general management, board of directors, sustainable development department, specialised committees) to discuss their strategy, practices and ESG performance, in particular:
Environment: carbon footprint, greenhouse gas emission reduction strategy and targets, energy transition strategy, environmental and biodiversity protection, etc.
Social: for stakeholders in the value chain (employees, suppliers, customers), policies on parity, diversity and inclusion, compliance with labour law, occupational health and safety policy, quality of social dialogue, employee training, etc.
Governance: independence and diversity of boards of directors, balance of power, executive remuneration practices, defence of minority shareholders' rights, etc.
In 2021, this dialogue on their ESG practices focused first on governance issues (39%), then on environmental issues (35%) and finally on social issues (26%).
The aim of these exchanges is to establish a relationship with companies based on mutual listening and trust, allowing for constructive discussions and positive long-term developments.
In order to "step up a gear", BNP Paribas Asset Management may decide to take so-called "escalation" measures, such as voting against resolutions, for example the appointment of directors, proposing resolutions to be put to the next shareholder vote or divesting from the company and excluding it from its funds.
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BNP Paribas SA published this content on 20 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 November 2022 16:44:02 UTC.
BNP Paribas is France's largest banking group. Net banking product (NBP) breaks down by activity as follows:
- retail banking (54%): retail banking activity in France (24.1% of NBP), in Belgium (14.6%), and Italy (10.2%). The remainder of the NBP (51.1%) is from international activities and specialized financial services activities (consumer loans, real estate credit, leasing credit, car fleet management, computer equipment leasing);
- finance and investment banking (34.4%): consulting and capital market activities (83.7% of NBP; merger-acquisition consulting, activities related to the stock, interest, and exchange markets, etc.) and financing (16.3%; financing for acquisitions, projects, raw material transactions, etc.);
- institutional and private management and insurance (11.6%): asset management, private banking activity (No. 1 in France), real estate and on-line brokerage services, insurance and securities services (No. 1 in Europe for retained securities).
At the end of 2023, BNP Paribas was managing EUR 988.5 billion in current deposits and EUR 859.2 billion in current loans.
Net banking product is distributed geographically as follows: Europe, Middle East and Africa (82.9%), America (9.8%) and Asia/Pacific (7.3%).