A bank supporting more responsible finance

Although some non-financial criteria were already being taken into account prior to the regulatory developments regarding Sustainable Finance, responsible investments – those with environmental, social and governance (ESG) credentials – are becoming increasingly popular within the banking industry. Anne-Françoise Woolf, Head of Offering at BGL BNP Paribas Banque Privée, walks us through the details of a theme with immense potential.

What is green finance?

Green finance, as opposed to traditional finance, seeks to combine financial performance with sustainable development. By doing so, it helps to reduce major environmental and social imbalances. This two-fold approach has become more and more sought-after among our clients, especially in the wake of the pandemic.

How has BGL BNP Paribas adapted to these new expectations?

BGL BNP Paribas has been committed to embedding environmental and social responsibility across its entire business for over a decade.

“BGL BNP Paribas is prioritising the transition to a sustainable and inclusive economy. This can be seen in its sector policies, partnerships and product innovation.”

Anne-Françoise Wolff, Head of Offering, BGL BNP Paribas Banque Privée

In recent years, our private bank has undertaken several initiatives, combining investment solutions with donations to Luxembourg charities and reforestation projects.

The bank’s commitments also include . The aim of this BNP Paribas Group programme is to have global staff collectively provide one million hours of paid volunteering.

How is BGL BNP Paribas preparing for increasingly strict environmental regulations?

We had already taken the first steps by adding questions on sustainability to our MiFID (Markets in Financial Instruments Directive) questionnaires. We also set up working groups to look at changes in, and adaptation to, these new regulations.

Moreover, we launched an ambitious training programme to give our private bankers all the skills needed to support their clients.

Good to know: The Sustainable Development Goals (SDGs), also known as the Global Goals, were adopted by the United Nations in 2015. They serve as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity.

How does BGL BNP Paribas Banque Privée help its clients to access SRI solutions?

We have developed myImpact, which is based on the 17 SDGs and used as an educational resource. We talk about SRI and philanthropy with our clients. These discussions then lead to the drafting of a personalised report to show how the portfolios are positioned in relation to the various responsibility indicators. Ultimately, everyone can see the extent to which their personal targets are being met.

We have seen considerable interest in responsible investment. Within private banking, more than 40% of the investment funds held by our clients are socially responsible (classed under Articles 8 and 9 of the Sustainable Finance Disclosure Regulation - *).

Find out more about and the .

*SFDR below