2012 Registration document and annual financial report - BNP Paribas

7ARESPONSIBLE BANK: INFORMATION ON BNP PARIBAS’ ECONOMIC,SOCIAL, CIVIC AND ENVIRONMENTAL RESPONSIBILITYEconomic responsibility: financing the economy in an ethical mannerSuccessful anti-corruption mechanism; policyfor locating Group offices dictated by objectiveof optimising customer serviceCombating corruptionBetween September 2011 and August 2012, Group employees attendedmore than 138,000 training events on combating money laundering,terrorism, financial embargos and corruption, with a distinction madebetween:■ combating external corruption: this topic is integrated into thetraining modules on combating money laundering and the financingof terrorism. It is aimed at finding out about clients and intermediariesat the beginning of the business relationship, and monitoring theirtransactions, etc. Since July 2010, staff whose work is directlyexposed to this risk (61,253 employees, i.e. around one-third of Groupheadcount) must attend a specific internal training every year.■ combating internal corruption: in November 2012, a new Grouptraining module on combating corruption was made available toall staff. It highlights key definitions, gives practical examples andpresents BNP Paribas’ Control Mechanism in an awareness module.The location of BNP Paribas’ offices is driven, not bytax considerations, but by the objective of servingcustomers around the worldBNP Paribas has a presence around the globe, close to its customers,notably in its four major domestic European markets, France, Belgium,Luxembourg and Italy, and in the wider world, where it serves local retailand corporate customers particularly in North America, Turkey and Africa.Its other international activities are conducted from the main financialcentres of Europe, London, Asia (Hong Kong, Singapore, Tokyo) and NewYork.1. BNP Paribas is one of France’s biggest tax payers.BNP Paribas is one of the biggest tax payers in France. For 2012, thetotal amount of taxes and duties paid in France reached EUR 1.9 billion.2. BNP Paribas has no presence in any tax haven on the OECD’s list.BNP Paribas was the first French bank to undertake, in 2009, to end allactivities in countries on the OECD’s “grey” list. As part of this process,in 2009, BNP Paribas sold its commercial banking subsidiary in Panamato a large Canadian bank, which continued to operate it in that market.3. BNP Paribas cannot seriously be criticised for its presence in a numberof OECD and EU countries, nor can this be linked to tax incentives.There are studies that refer to lists of unofficial “tax havens” and givestatistics on operations in tax havens that do not correspond to anyoperational reality: these lists include in the category of tax havenscountries that belong to the Group’s domestic markets, such as Belgium,where the Group has more than 18,000 employees, a network of 938branches, 3.6 million retail and SME customers, and 13,100 corporateclients.As regards non-OECD countries that could be considered to operatefavourable tax regimes, BNP Paribas has started to reduce its presencethere.A RANGE OF RESPONSIBLE PRODUCTS7Around the world, investors are becoming more attentive to the exposureof their investments and want to invest in responsible products.To respond to this development, BNP Paribas markets an array ofresponsible investments for retail customers and institutional investors.In 2012, BNP Paribas extended its range of responsible productsand services. The Group continued the process of incorporatingenvironmental, social and governance (ESG) criteria, aiming to excludefrom its investments businesses whose practices do not conform withits responsible investment criteria.At the same time, the Group filled out its range of products aimed at themore vulnerable and underbanked populations.INTEGRATE ESG CRITERIA INTO CREDITAND SAVINGS PRODUCTSA signatory to the UN Principles for Responsible Investment(UN PRI), BNP Paribas Investment Partners, the Group’s dedicatedasset management business line, applies ESG criteria to all its collectiveinvestment funds and institutional mandates. These criteria are analysed,as a complement to financial analysis, according to a formal frameworkbased on the UN Global Compact’s ten principles in the areas of humanrights, labour, the environment and anti-corruption. The principles arecomplemented by rules for investing in controversial sectors or products.3862012 Registration document and annual financial report - BNP PARIBAS