Banken for en verden i endring The bank for a ... - BNP Paribas

Banken for en verden i endring The bank for a ... - BNP Paribas

• impact on the natural environment / three key success factors

Furthermore, signatories of the Equator

Principles undertake to follow the environmental

standards de-fined by the International Finance

Corporation (IFC) through all their periodic revisions.

Although the Group does comply with the

IFC’s standards as they are currently defined, it

does not wish to commit to all future changes in

these standards.

The reasons for which BNP Paribas decided

not to adopt the Equator Principles were well

analysed in a report published by the independent

firm Freshfields Bruckhaus Deringer in July

2005 (1) .

The financing of renewable

energy projects

BNP Paribas policy is driven by the belief that the

use of renewable energy will become far more

wide-spread on the back of the Kyoto protocol

and the likelihood of oil prices remaining high.

The Group’s activity and commitments in this

sector expanded significantly in 2006.

BNP Paribas finances wind farm projects not

only Europe, but also in the Americas, the Middle

East and Asia.

BNP Paribas designated Best Project Finance

Arranger and Most Aggressive Project Finance Lender

in the renewable energy sector

In 2006, BNP Paribas was voted Best project finance arranger and Most aggressive project finance

lender in the renewable energies sector. These awards were the outcome of a survey of borrowers conducted

and published by Project Finance magazine, one of the authoritative publications in its field.

They reflect the Group’s image among its clients. BNP Paribas also won the Excellence in Renewable

Energy prize for its active role and ability to innovate in the renewable energy sector. The prize was

announced in Commodities Now magazine and handed out at the fifth edition of the Energy Business

Awards, which rewarded companies that made a significant impact in the energy sector in 2006.

In 2006, the Group confirmed its commitment

to financing wind turbine projects, taking on

Yowip, the first wind farm in Korea and a reference

for the Asian renewable energy market;

Astraeus, the first European wind farm project;

and Boralex, the first French portfolio of wind


The Group was also active in the hydropower

and solar sectors, including in the world’s largest

solar energy project, in Spain.

(1) Freshfields Bruckhaus Deringer report, July

2005, page 68: «Some banks are dissuaded

from adopting the Equator Principles, as they fear

that it is not possible to predict where it would all

end. One Equator Bank sug-gested the reason

for the absence of major French project finance

banks was that they were very concerned that

the Equator Principles carried a virus that in turn

would infect other limbs of banking, such as

export credit finance or general lending.”



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