Aside from enabling businesses to vastly reduce their greenhouse gas emissions, energy efficiency will simultaneously help firms generate significant savings thereby boosting their overall competitiveness. Banks such as BNP Paribas are in an excellent position to support their clients who are looking to optimise their energy usage.
40% reduction in emissions to align with Paris AgreementThe impact of energy efficiency on carbon emissions should not be underestimated. In fact, data suggests that the wider adoption of efficient energy practices by companies in their buildings, production lines, transportation and sales processes could reduce carbon emissions by anywhere up to 40% in order to be aligned with the goals of the Paris Agreement. That translates to getting them almost half way on their journey to net zero by 2050 to ensure they are aligned with the Paris Agreement. Companies are taking note of this by investing more into solutions that will save energy, and also save money. Making the transition to becoming more energy efficient, however, can be a very complicated undertaking. BNP Paribas provides a range of services to help companies when managing their energy efficiency programmes.
This new coalition, a “Community of Interest” through Movin’On, will use digital and agile ways of collaborating to find concrete solutions to boost energy efficiency. This could involve innovative partnerships and also include financing solutions. Partners include BNP Paribas, Michelin, Engie, Solar Impulse and Metron (see article below and above video for further details).
Data to optimize energyIncreasingly, companies are now leveraging energy audit services to help them identify energy inefficiencies and ways to make improvements. Through its collaboration with EDF via the Economies d’Energie SAS subsidiary, BNP Paribas can provide companies with a tailored energy audit and advice on energy optimisation strategies. BNP Paribas also helps companies analyse and renegotiate energy contracts, in what can bring about further savings and reduce emissions. In order to maximise energy efficiencies, companies will need to invest in new infrastructure. BNP Paribas provides green financing – often in the form of sustainable loans, SLLs (sustainability-linked loans), green bonds or SLBs (sustainability-linked bonds) to help companies invest in solutions that will improve their energy performance. BNP Paribas is the global #1 bank in issuing sustainable bonds (encompassing green bonds) and sustainable loans.
Walking the talkIn addition to supporting clients with their energy efficiency programmes, BNP Paribas is also leading by example. Central to the bank’s Corporate Social Responsibility (CSR) position is a commitment to ensuring its own internal operations are energy efficient. The bank became carbon neutral on its operational scope in 2017 and energy performance targets for 2020 have already been achieved. BNP Paribas fully supports the GC4E (Green Company for Employees) programme, which sets internal energy efficiency targets covering areas including Green IT to reduce the footprint of our IT operations and reduction of single-use plastics. Elsewhere, the bank has entered into strategic partnerships and coalitions, such as Movin’On mentioned earlier, and with other major organisations to help support the transition towards lower carbon energies.
Within the EU, the real estate sector continues to be a significant consumer of energy, and it is an issue which requires urgent resolution. BNP Paribas is making significant efforts to ensure that its real estate branch adheres to the highest energy performance standards. Since 2011, 100% of BNP Paribas commercial real estate developments in France have been given positive environmental accreditation certificates. BNP Paribas Real Estate’s new HQ – Metal 57 – has also received official commendations acknowledging that its buildings meet the highest environmental standards. This is a clear demonstration of the bank’s unwavering commitment to social and environmental responsibility.
Learn more about companies making the transitionBNP Paribas is a pioneer in sustainable finance – and it is helping companies to rationalise and optimise their energy consumption, a pivotal requirement if climate change targets are to be achieved. The articles below are just a snapshot of some of the ground breaking work which BNP Paribas is supporting its clients in to support energy efficiency wins.