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Photo : World - Maritime transport, along with seven other sectors, benefits from specific rating and lending policies which incorporate ESG criteria.

GROUP

LENDING UNDER ESG CONDITIONS

In July 2014, the Group’s general lending policy changed to include a CSR chapter and environmental, social and governance (ESG) criteria. Before granting a loan to a company, BNP Paribas measures its activities against financial and non-financial criteria, and considers the management of the ESG risks of its main suppliers and sub-contractors.

The bank places great importance on the CSR performance of its customers and the potential impact of this performance on the decision to grant a loan.

This general policy is also reflected in the specific credit and rating policies, within which ESG criteria have been gradually incorporated since 2012. At the end of 2014, eight policies had been finalised and eight more were pending validation.

GROUP

ENTITY CLOSURES

BNP Paribas continued to withdraw from some countries considered as tax havens. The figures on BNP Paribas’ presence in tax havens reported in the media are based on unofficial lists such as that maintained by the Tax Justice Network which includes E.U. countries such as Austria, the Netherlands and Belgium (one of the Group’s domestic markets), as well as the main international financial centres such as Hong Kong and Singapore, where the Group finances genuine business activity. Regarding non-cooperative states and territories and non-OECD countries which can be considered as tax havens, BNP Paribas has demonstrated its intention to be exemplary in these matters and has for several years been scaling back its presence in these locations. At the end of 2014, the Group no longer had a presence in the Dutch Antilles, Uruguay, the Bahamas, Cyprus or the Isle of Man. BNP Paribas’ choice of locations is dictated by its desire to serve its European and international customers, rather than tax considerations. This is reflected by the Group’s effective tax rate of 30% in 2014.