BNP Paribas To Stop Financing Certain Fossil Fuel Cos.

Law360, New York (October 11, 2017, 3:48 PM EDT) -- BNP Paribas said on Wednesday it would no longer work with companies whose “principal business” involves dealing with oil and gas from shale or tar sands, an effort the major European bank said was aimed at promoting green energy and reducing the harmful impacts of climate change.

In addition, BNP Paribas will not finance fossil fuel exploration in the Arctic or deal with projects that “primarily” involve transporting carbon-intensive oil from tar sands or gas from shale, according to the company. The bank’s efforts to exit...
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