OEF Rapid Review
Hydraulic fracturing – or fracking – has been at the center of controversies about contaminating water sources and causing earthquakes. Now France’s biggest bank will no longer do business with companies whose main business stems from oil and gas obtained from shale, covering those companies that are involved in activities ranging from exploration to marketing and trading. This policy also includes no more financing for projects in the oil sands or Arctic. “We’re a long-standing partner to the energy sector and we’re determined to support the transition to a more sustainable world,” said Paribas’ CEO Jean-Laurent Bonnafe.
LINK TO THE SOURCE ARTICLE:
No More Shale Oil Financing Coming From BNP Paribas
