La Banque Postale
Climate love
Climate love
Muhammad Fahd Khan
133 w
Exiting Fossil Fuel Financing
French bank, La Banque Postale has announced that it will completely stop financing the oil and gas industries by 2030. The bank has stated that it will not provide services to fossil fuel companies, infrastructure projects related to fossil fuels and will also stop supporting lobbying firms doing lobbying for oil and gas businesses. La Banque Postale has set an example for the banking industry to follow. It is great that the bank is extending the divestment to organisations that are providing infrastructure and lobbying services to oil and gas sector. Read & Image: https://www.reuters.com/business/sustainable-business/french-lender-banque-postale-commits-exit-oil-gas-by-2030-2021-10-14/ Read: https://www.bloomberg.com/news/articles/2021-10-14/la-banque-postale-receives-sbti-backing-for-its-climate-strategy
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Pinned by We Don't Have Time
Dear Muhammad and #WeDontHaveTime community, Thank you for acknowledging our recent announcements regarding sustainable finance. La Banque Postale is committed to ensuring that its banking activities achieve net-zero carbon emissions by 2040. Since October 2021, we are the first European bank and one of the first financial institutions worldwide to have our decarbonisation pathway recognised by the Science-Based Targets initiative (SBTi), a leading independent body. This pathway covers operations specific to La Banque Postale (carbon emissions from its real estate assets and fleet of vehicles, type of fuel used, etc.) and impacts linked to its investing and borrowing activities with its customers. La Banque Postale is also the first bank worldwide to commit to a complete withdrawal from the oil & gas industries by 2030. This ambitious commitment, made after consulting with our NGO partners, is an essential step in meeting its SBTi-certified climate trajectory. It is also aligned with the messages delivered by the International Energy Agency. As our CEO, Philippe Heim, point out, “We will work in the next months to turn this commitment into action. Our teams have been working for several years on the in-depth transformation of our business models towards a just transition, a transition which ensures that the substantial benefits of a green economy transition are shared widely, while also supporting those who stand to lose economically. We must continue the efforts initiated and accelerate in this direction and we hope that other financial institutions will follow this path.”
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Dear Muhammad and #WeDontHaveTime community, Thank you for acknowledging our recent announcements regarding sustainable finance. La Banque Postale is committed to ensuring that its banking activities achieve net-zero carbon emissions by 2040. Since October 2021, we are the first European bank and one of the first financial institutions worldwide to have our decarbonisation pathway recognised by the Science-Based Targets initiative (SBTi), a leading independent body. This pathway covers operations specific to La Banque Postale (carbon emissions from its real estate assets and fleet of vehicles, type of fuel used, etc.) and impacts linked to its investing and borrowing activities with its customers. La Banque Postale is also the first bank worldwide to commit to a complete withdrawal from the oil & gas industries by 2030. This ambitious commitment, made after consulting with our NGO partners, is an essential step in meeting its SBTi-certified climate trajectory. It is also aligned with the messages delivered by the International Energy Agency. As our CEO, Philippe Heim, point out, “We will work in the next months to turn this commitment into action. Our teams have been working for several years on the in-depth transformation of our business models towards a just transition, a transition which ensures that the substantial benefits of a green economy transition are shared widely, while also supporting those who stand to lose economically. We must continue the efforts initiated and accelerate in this direction and we hope that other financial institutions will follow this path.”
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@la_banque_postale don't wait five more years, do it now or latest by 2025. The time lost is critical as we are at a tipping point.
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131 w
Dear Muhammad Fahd Khan Thank you for getting your Climate Love to level 2! We have reached out to La Banque Postale and asked for a response. I will keep you updated on any progress! /Sarah We Don't Have Time
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132 w
Why wait until then!? Stop supporting fossil fuels subventions. We need to move faster
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Good start
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Sooner would be better
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Yes, that's right.
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