Our economic responsibility

BGL BNP Paribas renews its support for D’fair Mëllech

Created in 2011, Fairkoperativ now includes 51 Luxembourg milk producers making high-quality milk while also taking into account the environmental impact of each farm. Fairkoperativ markets the milk produced under the D’fair Mëllech brand, giving producers a fair price for it.

BGL BNP Paribas is active in the development of local and fair trade, and has renewed its partnership with Fairkoperativ to remain its primary partner in the D’fair Mëllech initiative. The bank stands alongside Luxembourg farmers for the production and promotion of fair trade milk.

On 24 January 2020 at the BGL BNP Paribas headquarters, the bank signed an official agreement renewing its partnership with Fairkoperativ. The cooperative was represented by its chairwoman Danielle Warmerdam-Frantz and vice-chairwoman Tessy Theissen-Bram, while the bank’s representatives were Thierry Schuman, member of the Executive Committee, and Romain Girst, Head of Retail Banking.

Read the press release

BGL BNP Paribas is committed to responsibly financing the economy through a lending policy and a range of socially responsible investment (SRI) products that contribute to the UN Sustainable Development Goals.

Responsible finance means offering a range of investment products that combine civic engagement and financial performance:

For retail clients

• investing responsibly thanks to Socially Responsible Investments (SRI)
• encouraging social entrepreneurs who are committed to sustainable development thanks to the Label Act For Impact

For private banking clients

• offering tailored advice for philanthropic projects
• choosing the best SRI funds on the basis of extra-financial criteria that are most suited to the needs of private clients

Microfinance

• promoting the inclusion of individuals or social enterprises that are often excluded from the traditional banking system

As a bank, we finance many industries, some of which face major environmental, social and governance (ESG) challenges. The BNP Paribas Group requires the ESG risks to be taken into consideration in financing and investment decisions.

This affects nine sectors: oil & gas, farming, tobacco, palm oil, coal, mining, defence, nuclear power and paper pulp. For these sectors, we have designed policies that require ESG requirements to be taken into consideration, in addition to economic performance criteria, in our financing and investment decisions.

In 2018 more than a hundred transactions were reviewed in the light of these policies by the BGL BNP Paribas CSR unit.

An ESG-based approach