Climate warning
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BNP Paribas

Climate warning

BNP Paribas is back to financing fossil fuels – when will they take the climate crisis seriously?

8 months ago, BNP Paribas announced that they would no longer finance the development of oil and gas fields. A decision that was praised by many, especially here on We Don't Have Time.
You can imagine my disappointment and anger when I read earlier today that in December, BNP Paribas decided to facilitate and take part in the issuance of a US$3 billion loan to Eni, one of the "supermajor" oil companies in the world. Eni is currently developing new fossil fuel projects, including 11 carbon bombs 💣
Yes, the loan is a sustainability-linked loan (SLL), which is linked to the achievement of climate objectives, in particular the development of renewables. This sounds great, right? Yeah... but the issue is that Eni invests less than 7cts in renewable energies for every euro spent on fossil fuels. And, there is NO guarantee that the money lent by the BNP Paribas will actually serve to reduce the company's emissions, as this LLS isn't allocated to a specific project!
It looks a lot like greenwashing to me. When will banks stop making promises and start acting for real? You cannot give a loan to a fossil fuel company and expect them to act for the common good and for our planet!

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Do you agree?

149 more agrees trigger scaled up advertising

  • George Kariuki

    12 w

    Let's use this as an opportunity to amplify our voices, demand genuine climate action, and work towards a future powered by clean energy.

    2
    • Grace Njeri

      12 w

      Every dollar spent on new fossil fuels puts the brakes on our clean energy transition

      4
      • johnte ndeto

        12 w

        So insensitive

        4
        • Esther Wanjiku

          12 w

          BNP financing Eni after declaring they would no longer finance fossil fuel companies only speaks volumes of their non commitment.We really praises them on this platform and it's totally frustrating that BNP could make a total turn around on their promise.

          6
        • We Don't Have Time

          12 w

          Dear Marine Stephan Your climate warning has received over 50 agrees! We have reached out to BNP Paribas by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time

          4
          • Sarah Chabane

            12 w

            What.... this is unacceptable

            5
          • Joseph Githinji

            12 w

            BNP are selfish, so sad how they go back on their word and finance fossil fuels whereas they know the impacts it has to our environment.

            4
            • Esther Wanjiku

              12 w

              @joseph_githinji They cannot be trusted

              3
              • Jane Wangui

                12 w

                @joseph_githinji Greed !! They are considering profit to peoples and environment welfare.

                3
              • winnie nguru

                12 w

                Its devastating what a heart full of greed can do

                6
                • Esther Wanjiku

                  12 w

                  @winnie_nguru And to think we sang their praises on here for days

                  3
                  • CHRIS NGATIA

                    11 w

                    @winnie_nguru greed is really dragging our climate behind

                    1
                  • Kevin

                    12 w

                    This proper lack of focus and sheer greed will be the end of us

                    6
                    • Esther Wanjiku

                      12 w

                      @Kevin it's unbelievable

                      3
                    • Richard S

                      12 w

                      🔥 #Snails 🇨🇵🔥

                      4
                      • walter lungayi

                        12 w

                        It's disappointing to see BNP Paribas reversing course on financing fossil fuels. It's time for them to prioritize the climate crisis and invest in sustainable energy solutions.

                        6
                        • Elizabeth Gathigia

                          12 w

                          This is very wrong! 😣 We fighting a battle to end fossil fuel, BNP stop pulling our efforts down!! Its unacceptable

                          8
                          • Kevin

                            12 w

                            @elizbeth_gathigia Capitalists and their love for money is undefeated

                            5
                          • Gorffly mokua

                            12 w

                            It's concerning to hear that BNP Paribas is once again financing fossil fuels. If businesses and financial institutions want to take the climate crisis seriously, they must prioritize investing in clean and renewable energy sources.

                            7
                            • Esther Wanjiku

                              12 w

                              @gorffly_mokua I had to check again because some time back we really were so proud of their promise to cease financing any fossil fuel plans

                              3
                            • Boniface Kuria

                              12 w

                              Financial Institutions going back on their commitment to end fossil fuel funding is now becoming a disappointing trend. It will take back great gains we have made in eliminating fossil fuels. BNP Paribas should reconsider.

                              9
                              • Gorffly mokua

                                12 w

                                @boniface_kuria It is very disappointing to see financial institutions backtracking on their commitments to end fossil fuel funding..

                                6
                              • Princess

                                12 w

                                It's disappointing to see BNP returning to financing fossil fuels, especially in the midst of the ongoing climate crisis.

                                8
                                • Kihm Francis

                                  12 w

                                  greed for money will cost us one day.... you look at the problems that we face humans are the ones contributing a larger percent

                                  15
                                • Andy Middleton

                                  12 w

                                  Money is their God

                                  15
                                  • Elizabeth Gathigia

                                    12 w

                                    @andy_middleton And it has blinded them

                                    7
                                    • CHRIS NGATIA

                                      11 w

                                      @elizbeth_gathigia they're really blinded by greed

                                      1
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