BNP Paribas Says It Will Stop Funding Of Global Tobacco Industry
BNP Paribas SA will cease funding and advising tobacco companies as the French lender seeks to distance itself from the industry over health concerns.
The bank will halt transactions and investments related to the industry and “progressively disengage” from relationships with tobacco clients, Laurence Pessez, the bank’s global head of corporate responsibility, said in an interview in Paris. The decision involves all types of products and services, though the bank will honor all contractual commitments, she said.
Shunning The Sector
Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.
A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!