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BNP Paribas Says It Will Stop Funding Of Global Tobacco Industry

Published on Nov 25 2017 1:30 PM in A-Brands tagged: Trending Posts / Tobacco / BNP Paribas / Banks

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

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