MNI BRIEF: BdF Signals Further Retreat From Carbon Investments

The Banque de France will no longer invest in any company engaged in any coal-related activity by the end of 2024 and will lower its existing threshold to 2% by the end of this year, it announced Tuesday. The French central bank will, from this year, also exclude all companies whose oil and shale gas activities, oil sands and/or arctic and deep water exploration accounts for more than 10% of their turnover

The BdF already excludes from its EUR 22 billion investment framework any company for which coal accounts for more than 10% of its turnover. In line with the Paris Aligned Benchmark it has agreed to the exclusion of all companies for which oil accounts for more than 10% of their turnover, and gas more than 50% by 2024.