2012 Registration document and annual financial report - BNP Paribas

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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
A RESPONSIBLE BANK: INFORMATION ON BNP PARIBAS’ ECONOMIC,SOCIAL, CIVIC AND ENVIRONMENTAL RESPONSIBILITYEconomic responsibility: financing the economy in an ethical manner7As a result of this approach, the Group excludes businesses that do notconform with these criteria. BNP Paribas Investment Partners has alsoinitiated a dialogue with several companies to encourage them to developbetter practices.In addition, the asset management business line aims to increase thelong-term value of its investments by helping companies to develop goodpractice in terms of governance, social and environmental responsibilities.In 2012, BNP Paribas Investment Partners systematically exercised itsshareholder voting rights, participating at around 1,200 Annual GeneralMeetings and voting on more than 14,000 draft resolutions, whereby inaround 20% of cases it abstained, opposed or voted no.BNP Paribas Cardif, the Group’s life and non-life insurance subsidiary,also took a key step in its ESG development by creating a compositeindicator enabling it to monitor the proportion of investments in its maineuro fund (EUR 88 billion at 31 December 2012) screened through an ESGfilter at the time of selection, since 1 July 2008. This indicator rose from24% at 31 December 2010 to 40% at 31 December 2012:40% of the main euro fund run by BNP Paribas Cardif(1.7 million customers) was screened through an ESG filter.➤ BNP PARIBAS SRI FUNDS APPROVED IN 2012Design and promote socially responsibleinvestment (SRI) funds to benefit both fromfinancial and environmental and socialperformancesBNP Paribas continues to develop and promote its range of SRI products.These products are a response to demand from customers wantingto invest in businesses and sectors at the forefront of sustainabledevelopment, thereby make their savings more meaningful.BNP Paribas’ expertise is based on two complementary approaches:one is focused on committed issuers (“best-in-class”); while thesecond, thematic, targets activities, products and services related toenvironmental protection and/or social wellbeing.22 SRI funds awarded in 201222 SRI labels were awarded to funds managed by BNP Paribas InvestmentPartners in 2012.■ 11 SRI funds received a Novethic label in 2012, including 9 awarded witha special “ESG indicators” mention for the quality of communicationon social and environmental impacts;■ 3 funds were awarded the EnvironmentLuxFlag label for their closeinvolvement in the environment sector and their high level of investortransparency;■ 3 funds received the Finansol label for their investments in the socialbusiness and microfinance;■ 5 were awarded the CIES (Comité Intersyndical de l’Épargne Salariale)label dedicated to employee savings plans.These labels support BNP Paribas in its long-term commitment todevelop and promote its range of SRI products.Name of fundWith ESG indicatorsLabelsNovethic label(awarded every September )Without ESG indicatorsLuxflag label(awarded everyDecember ) Finansol CIESBNP Paribas Etheis XParvest Sustainable Equity Europe XMAIF Investissement Responsable Europe XBNP Paribas Euro Valeurs Durables XBNP Paribas Développement HumainBNP Paribas L1 Green TigersAGIPI Monde DurableBNP Paribas L1 Sustainable Bond Euro XBNP Paribas Obli Etheis X XBNP Paribas Obli Etat XParvest Sustainable Bond Euro Corporate XBNP Paribas Mois XBNP Paribas Money Prime Euro SRI XBNP Paribas Aqua XParvest Environmental Opportunities XParvest Global Environment XSICAV RetraiteX(RetraiteHorizon)XMultipar Funds(2 fonds)X(5 fonds)72012 Registration document and annual financial report - BNP PARIBAS 387
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2012REGISTRATION DOCUMENTAND ANNUAL
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2012 Registration documentand annua
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1GROUP PRESENTATION1.1 Group presen
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GROUP PRESENTATIONPresentation of a
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1GROUPPRESENTATIONBNP Paribas and i
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1GROUPPRESENTATION1282012 Registrat
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2CORPORATEGOVERNANCEBoard of Direct
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2CORPORATEGOVERNANCEExecutive Commi
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32012REVIEW OF OPERATIONSBNP Pariba
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32012REVIEW OF OPERATIONSBalance sh
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32012REVIEW OF OPERATIONSProfit and
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32012REVIEW OF OPERATIONSOutlook3.6
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32012REVIEW OF OPERATIONSLiquidity
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4CONSOLIDATEDFINANCIAL STATEMENTS -
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5RISKSAND CAPITAL ADEQUACY5.6 Count
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5RISKSAND CAPITAL ADEQUACYAnnual ri
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5RISKSAND CAPITAL ADEQUACYCapital m
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5RISKSAND CAPITAL ADEQUACYSovereign
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5RISKSAND CAPITAL ADEQUACYAppendice
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5RISKSAND CAPITAL ADEQUACYAppendix
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6INFORMATIONON THE PARENT COMPANY F
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8GENERALINFORMATIONStatutory Audito
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9STATUTORYAUDITORSStatutory Auditor
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10PERSON RESPONSIBLE FOR THE REGIST
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11TABLE OF CONCORDANCEHeadings as l
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HEAD OFFICE16, boulevard des Italie
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