BNP Paribas Asset Management
BNP Paribas Asset Management is a global asset manager headquartered in France. BNP Paribas Asset Management joined the Net Zero Asset Managers Initiative in November 2021 and made its Initial Target Disclosure in November 2022.
50% of total AUM
initially committed to be managed in line with net zero
USD $262 billion
currently committed to be managed in line with net zero
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Portfolio coverage baseline
The breakdown of our in-scope AuMs was as follow: 4% Achieving Net Zero, 20% Aligned to NZ, 15% Aligning to NZ and 61% not Aligned. Due to data availability issues we are unable to recalculate the alignment with our NZAAA framework as of December 2019.
Portfolio decarbonisation reference baseline
Portfolio coverage target
– 60% of in-scope investments to be Net Zero Achieving, Aligned or Aligning (“NZ:AAA”) by 2030
– 100% of in-scope investments to be NZ:AAA by 2040
Portfolio decarbonisation reference target
Reduce the carbon footprint of our in-scope investment portfolios by 30% in 2025 (64,2 tCO2e/$m invested) and by 50% in 2030 (45,86tCO2e/$m invested). Please note that our intensity reductions target is based on the EUR figure mentioned earlier. USD figures are provided for indicative purpose only. Accordingly, exchanges rates between EUR and USD might have an impact on our targets in tCO2e/ $mn
GHG scopes included:
Our commitment currently covers Scope 1 and 2 emissions. Scope 3 emissions are not yet included in the calculation since the measurement of these emissions is not standardised or considered sufficiently reliable to be used in reporting. Given the importance of scope 3 emissions in many sectors (such as car manufacturing, where these emissions account for 98% of the total during the life of the vehicle), we are evolving our approach to calculating Scope 3 emissions with the aim of including it in future.
Net Zero Investment Framework
We believe the emission reduction pathways encompassed in our commitment are consistent with the required reduction in global GHG emissions to achieve net zero emissions by 2050. They are aligned with the 7% yearly decarbonisation rate in accordance with the IPCC’s 1.5°C scenario with no or limited overshoot.
Proportion of AUM committed:
In considering the scope of assets included in our initial commitment, we will begin with 50% of BNPP AM’s AUM. These represent holdings for which we believe we have, as of today, the tools, the data and the ability to achieve net zero portfolio emissions by 2050. We intend to expand this scope over time, in order to meet our Net Zero objective by 2050 or sooner.
Policy on coal and other fossil fuel investments:
Yes. See P. 31-34