BNP Paribas

"Companies involved in activities related to soy and beef in the Brazilian Amazon and Cerrado [...] BNP Paribas will only provide financial products or services to companies with a strategy towards zero deforestation in their production and supply chains by 2025 at the latest."

"BNP Paribas will review this policy regularly and, in the light of the prevailing circumstances, it may update it to make sure it is in continued alliance with national and international regulations and best practices."

"In particular, BNP Paribas expects its clients to demonstrate progress on:  Applying deforestation and conversion risk assessment of their beef and soy supply chains;  [...]  Regularly reporting on progress towards deforestation and conversion-free beef and soy in their supply chains;  Implementing supplier engagement programs to promote zero deforestation practices;  Exclusion of suppliers who contravene their zero deforestation strategy;  Publishing or providing on demand the criteria of non-compliance and the course of action for the resolution of non-compliant suppliers."  

“BNP Paribas will review regularly the performance of palm oil companies against the policy. If BNP Paribas becomes aware that a client operates outside the requirements of the policy, a dialogue will be engaged with the client in order to find an acceptable solution to improve the situation in a timely manner. If this dialogue is unfruitful BNP Paribas may decide not to pursue any new business with such client and will place existing business under review taking into account existing contractual agreements.”

"BNP Paribas requires that Upstream Palm Oil Companies (plantations and mills): Be RSPO members (or have a time-bound plan to become RSPO members); Have published an up-to-date communication on progress; Have a time-bound plan for full RSPO certification of their operations" "BNP Paribas requires that Downstream Palm Oil Companies (i.e. refiners and traders): Be RSPO members (or have a time-bound plan to become RSPO members); Have published an up-to-date communication on progress; Have a time-bound plan to achieve full RSPO certification of their operations".

"BNP Paribas will review this policy regularly, and may update it to make sure it remains in line with international good practices for the palm oil sector. BNP Paribas welcomes any constructive feedback and comments on this policy."  

"BNP Paribas will review regularly the performance of palm oil companies against the policy."; "Mandatory requirements are to be understood as sine qua non: those have to be met without exception before BNP Paribas considers providing financial products and services to Palm Oil Companies. In addition to these mandatory requirements, evaluation criteria have been identified to develop the analysis performed by BNP Paribas on Palm Oil Companies. Based on the results of such complementary due diligence, BNP Paribas reserves its right to call for additional requirements or decline its involvement even if the mandatory requirements are met."

"The information related to the above mandatory requirements and evaluation criteria will be obtained from palm oil clients and potential clients by BNP Paribas’ relationship managers or business lines. BNP Paribas will review regularly the performance of palm oil companies against the policy. If BNP Paribas becomes aware that a client operates outside the requirements of the policy, a dialogue will be engaged with the client in order to find an acceptable solution to improve the situation in a timely manner. If this dialogue is unfruitful BNP Paribas may decide not to pursue any new business with such client and will place existing business under review taking into account existing contractual agreements."

"BNP Paribas will only provide financial products or services to Agriculture projects that [...] Are not located on:  UNESCO World Heritage Sites  Wetlands on the Ramsar list  Alliance for Zero Extinction sites  IUCN Category I-IV areas  Peat lands − Do not involve the trade of any plant or animal species or products governed by the Convention on International Trade in Endangered Species of Wild Fauna or Flora (CITES) not authorized by a CITES permit."

 "BNP Paribas will review this policy regularly and, in the light of the prevailing circumstances, it may update it to make sure it is in continued alliance with national and international regulations and best practices."

"In particular, BNP Paribas expects its clients to demonstrate progress on:  Applying deforestation and conversion risk assessment of their beef and soy supply chains;  [...]  Regularly reporting on progress towards deforestation and conversion-free beef and soy in their supply chains;  Implementing supplier engagement programs to promote zero deforestation practices;  Exclusion of suppliers who contravene their zero deforestation strategy;  Publishing or providing on demand the criteria of non-compliance and the course of action for the resolution of non-compliant suppliers."  

"BNP Paribas will review regularly the performance of agriculture companies against the policy. If BNP Paribas becomes aware that a client operates outside the requirements of the policy, a dialogue will be engaged with the client in order to find an acceptable solution to improve the situation in a timely manner. If this dialogue is unfruitful BNP Paribas may decide not to pursue any new business with such client and will place existing business under review or exclusion, taking into account existing contractual agreements. "