CHANEL pioneers new Sustainability-Linked Bonds supported by BNP Paribas

BNP Paribas has announced it has supported leading luxury goods company CHANEL to issue its first Sustainability-Linked Bonds. The pioneering €600mn inaugural transaction – a first in the luxury sector linked to the ICMA Sustainability-Linked Bonds Principles – will support CHANEL’s ambitious Mission 1.5° climate strategy by linking the bond terms to carbon reduction targets.  The targets include: Decreasing CHANEL’s own (scope 1 and 2) emissions by 50% by 2030  Decreasing CHANEL’s supply chain (scope 3) absolute greenhouse gas emissions by 10% by 2030  Shifting to 100% renewable electricity in…

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BNP Paribas accelerates its timeframe for a complete coal exit

Since 2011, BNP Paribas has consistently tightened its funding criteria for coal-related activities, particularly the generation of electricity using coal. Since 2017, BNP Paribas has not financed a single new coal-fired power-plant project anywhere in the world and does not advise on the purchase or sale of such assets. In 2019, the bank adopted cut-off dates (2030 for the European Union and 2040 for the rest of the world) beyond which its electricity-producing customers will no longer be able to use coal. In 2019, the share of coal in electricity generation already…

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BNP Paribas and JetBlue Partner to Close First Sustainability-Linked RCF for the Airline Industry

BNP Paribas, a premier global bank, has announced that it has closed a sustainability-linked loan (“SLL”) with JetBlue Airways via an amendment to its existing Senior Secured Revolving Credit Facility . JetBlue has amended its existing $550 million Senior Secured Revolving Credit Facility by including a “sustainability-linked” provision to align its strategic initiatives with its environmental, social, and governance performance (ESG) goals and objectives. BNP Paribas assisted the Company as the sole Sustainability Structuring Agent in this effort. This SLL includes a pricing mechanism related to the applicable margin and…

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BNP Paribas announces a timeframe for a complete coal exit and raises its financing targets for renewable energies

As a corporate bank, BNP Paribas has been supporting electricity producers through-out the world for decades. Facing the climate emergency, the Bank plans to encourage the transition of these players to a production model with the lowest possible CO2 emissions. In 2015, BNP Paribas committed to accelerate the energy transition by aligning its financing and investment activities with the conclusions of the Paris agreement. Since then, the Bank has regularly changed its customer support policies and stopped financing for certain categories of companies that are not engaged in a transition. As a…

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BNP Paribas Marylebone Station ‘Clean Air Zones’ improve air quality for a further year

BNP Paribas has unveiled the next phase of its pioneering ‘clean air zones’ campaign at London Marylebone Station, working in partnership with JCDecaux UK, Airlabs and Chiltern Railways for a second year. The positive impact advertising solution, which incorporates air-cleaning technology within advertising structures, is supporting the global ‘BreatheLife’ campaign for clean air. BreatheLife’s growing network includes more than 70 cities, regions and countries, reaching over 288 million people. The campaign’s goal is to mobilise communities to reduce the impact of air pollution on health and climate. The BreatheLife campaign…

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