BNP Paribas Securities Services, a leading custodian with EUR 10 trillion in assets under custody*, has been selected by Pensioenfonds PostNL to provide custody and value-added services.
- BNP Paribas is taking part in Climate Week, which runs from September 23 to 29 in New York.
- The bank reinforces its action on climate and sustainability, which is central to its business strategy, by signing the Principles for Responsible Banking and joining UNEP FI’s Collective Commitment to Climate Action.
- Climate Week provides a forum for leading organisations around the world to take additional action to contribute to the UN’s 17 Sustainable Development Goals (SDGs): BNP Paribas formalises its commitment to SDG 14 “Life below water” and discloses its actions in favour of ocean protection.
A WORLDWIDE BANKING COMMITMENT TO THE UN SUSTAINABLE DEVELOPMENT GOALS
Climate Week 2019 notably sees the launch of the Principles for Responsible Banking (PRB). By signing the PRB, more than 130 banks have committed to align their business strategies with the UN Sustainable Development Goals and the Paris Climate Agreement.
The PRB were first developed in 2018 by a core group of 30 Founding Banks, among them BNP Paribas, through an innovative global partnership between banks and the UNEP Finance Initiative (UNEP FI). Then, banks, as well as other financial institutions and all other interested parties, provided inputs during a six-month global public consultation from November 2018 to 31 May 2019. It is the first time that such a large coalition of banks, which together account for around a third of the world’s banking assets, have placed the Sustainable Development Goals and Paris Climate Agreement at the heart of an action plan.
Furthermore, 31 signatory banks of the PRB, including BNP Paribas, have endorsed the Collective Commitment to Climate Action. In line with the Paris Agreement, these banks have committed to align their portfolios to reflect and finance the low-carbon, climate-resilient economy required to limit global warming to well-below 2, and striving for 1.5 degrees Celsius. By putting their PRB commitments into practice and building on the pioneering Katowice Commitment, this Collective Commitment on Climate represents a further joint effort undertaken by the banking community to advance climate action.
BNP PARIBAS SEEKS TO ACTIVELY TAKE PART IN THE PRESERVATION OF THE OCEAN
The ocean is critical for our planet since it accounts for 70% of its total surface from the coastal areas down to its greater depths. The ocean is a cradle of extraordinary and precious biodiversity for the balance of life on earth, and provides human beings with essential resources, sustains food security and health, and preserves habitats; it also plays a key role in the oxygen cycle and in climate regulation, and is a vector of the globalised economy, generating direct and indirect jobs.
In this context, in line with its commitment to contribute to reaching the United Nations’ Sustainable Development Goals (SDGs), particularly through its financing and investing activities, BNP Paribas states its willingness to work with its clients towards the achievement of SDG 14 (“Life below Water”) for the conservation and a sustainable use of the ocean. It is particularly important to collectively strengthen the support of the business community for this SDG. The SDG Reporting Challenge 2018 published by PwC indicates that SDG 14 ranks for the moment last in corporate priorities[1].
The Group is aware that the activities of a number of its clients depend on the safeguarding of the ocean, but also that some of them, although highly necessary to the economy, may be contributing to the disruption of its ecosystem. Therefore, BNP Paribas commits to finance in a responsible manner activities likely to impact the ocean.
Seeking to take an active part in the preservation of the ocean, BNP Paribas supports the implementation of best practices and commits 1bn Euros by 2025 to finance the ecological transition of ships, supporting for example dual-fuel Liquefied Natural Gas (LNG) propulsion projects. In a complementary way, BNP Paribas promotes innovation and initiatives to raise awareness, such as with BNP Paribas Foundation’s support for research programmes focusing on the ocean.
“BNP Paribas has put the SDGs at the centre of its business-development strategy and by the end of 2018 had devoted €168bn of financing to the energy transition and the achievement of the SDGs. In order to go further in tackling climate change, the Group is stepping up its collaboration with partners as well as its commitment to working in new coalitions,“ said Antoine Sire, Head of Company Engagement, BNP Paribas.
“Oceans today are under great threat. Through its commitment to finance maritime activities sustainably, BNP Paribas is illustrating how companies can, and must, contribute to protecting oceans,” said Craig Leeson, Director, Writer and Narrator of the documentary film A Plastic Ocean.
[1] Source: PwC, SDG Reporting Challenge 2018 Base:Companies with priority SDGs (362)
Learn more about:
– BNP Paribas and Ocean protection
– Principles of Responsible Banking
– BNP Paribas Group
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Twitter – @BNPParibas & @BNPPamericas
BNP Paribas has again been recognized for its client-focus and innovation in the 2019 Asia Risk awards, with big wins for Japan House of the Year and the publication’s inaugural Custodian of the Year.
Eric Raynaud, CEO of BNP Paribas in Asia Pacific commented “These two Asia Risk awards recognize our commitment to our clients and our team’s focus on innovating with new solutions. This is a wonderful reward for the hard work and dedication of our teams”.
Asia Risk heard first-hand from our clients about the solutions we’re providing to help them grow, despite the challenging external environment. We were praised for our ability to innovate and find new solutions.
“BNP Paribas has applied its cross-asset mindset to its traditional distribution business and insurance solutions activities, where its teams cover all asset classes,” Asia Risk said of our Japan win. “This has allowed BNP Paribas to be nimble and quickly adapt to changing market conditions, and identify investment opportunities. It has also relied on its global pricing and trading platform – Smart Derivatives – to automatically serve clients as it manages more than 2,500 QIS strategies.”
BNP Paribas Securities Services’ ability to innovate was similarly recognized, with Asia Risk commenting: “The services for which it is winning mandates include traditional areas of work, such as custody, investment administration and performance reporting, but also innovative new lines such as data-as-a-service, which help it to support firms as they evolve into more digital ways of working, and clients with more quantitative approaches to investment.”
It is the third time in the past four years that we have scooped top honors for our Japan business and an exciting first win for the newly created Custodian category in Asia, demonstrating our excellence and client-focus.
Our teams were in Singapore to collect the awards and you can find below the full write-ups, along with social media posts for you to share with your clients. Congratulations again to all involved!
To learn more, please read the following CIB Website articles:
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Twitter – @BNParibas – @BNPPamericas
BNP Paribas is the first French and 4th European bank in the 2019 ranking of RebecoSAM and is listed in the “World” and “Europe” ethical indices of the Dow Jones.
With an overall score of 79/100, BNP Paribas maintains its leading position in the annual RobecoSAM ranking (top 10%) while the average score of the “Banks” sector has decreased (-8 points).
BNP Paribas is thus listed in the Dow Jones Sustainability Indices* World – for the fifth year in a row – and Europe.
Indeed, BNP Paribas confirms its excellent performance by ranking 1st among French banks and 4th among European banks on a total of 248 banks in its rating universe.
This year, the Group’s major improvements concern the following areas: “Codes of Business Conduct” (compliance issues, business ethics…) and “Policy Influence” (responsible lobbying practices) with a respective increase of 20 points,and “Climate Strategy” (climate-related risks management) with an increase of 12 points.
On the other hand, with scores of 100/100, BNP Paribas has particularly well performed in the environmental (« Climate Strategy » et « Environmental Reporting »), social (« Corporate Citizenship and Philanthropy », « Financial Inclusion » et « Social Reporting ») and economic (« Materiality ») fields.
Last but not least, the Group distinguished itself in the two new sections added by RobecoSAM to its 2019 questionnaire, i.e. Privacy Protection (80/100 vs. an average of 48/100 for the “Banks” sector) and the integration of ESG** risks and opportunities in the frame of its financing and investment activities (87/100 vs. 27/100).
*Jointly created by S&P Dow Jones Indices and RobecoSAM in 1999, the Dow Jones Sustainability Indices (DJSI) select among a total of 4,700 entreprises assessed the top 10% of most sustainable companies by sector of activity, based on their performance according to RobecoSAM’s annual extra-financial assessment
**ESG: Environmental, Social and Governance
RobecoSAM & BN
The Swiss extra-financial rating agency RobecoSAM, a partner of S&P Dow Jones Indices, rates each year the world’s 4,700 largest companies eligible for inclusion in the flagship DJSI World. The assessment is based on a questionnaire specific to the companies’ industry. Launched in 1999, the Dow Jones ethics indices track the financial performance of leading sustainability-driven companies worldwide based on economic, environmental and social criteria. They are used by investors who take these dimensions into account in their investment strategies.
Since 2002, BNP Paribas participates in the RobecoSAM rating by answering a questionnaire on its activities and policies in terms of environmental, social and corporate governance responsibility. This questionnaire is structured in three parts that constitute its three themes: the economic (corporate governance, customer relationship management, materiality…), environmental (climate strategy, environmental policies and reporting…) and social (health and safety, talent attraction, philanthropy…) dimensions.
“BNP Paribas’ presence in the Dow Jones Sustainability Indices World and Europe is for us both a source of pride and a mark of success. Indeed, in 2019, BNP Paribas’ results position itself among the banking sector’s leaders (top 10%). They notably testify its excellent performance in terms of climate strategy, environmental and social reporting, as well as financial inclusion – sections in which BNP Paribas has obtained scores of 100%. These results reflect BNP Paribas’ commitment at the highest level of the company and the mobilisation of all its teams” declared Laurence Pessez, Global Head of Corporate Social Responsibility of BNP Paribas.
‘Extra-financial’ analysis consists in assessing companies, sovereign states and other kinds of issuers of financial securities on their environmental, social and governance (ESG) policies. Based on this analysis, the agency then draws up a rating that enables a comparison to be made between different issuers – whether or not they are listed companies – on their ESG practices.
The latest BNP Paribas scores
- BNP Paribas was designated « World’s Best Bank for Corporate Social Responsibility » in 2019 by Euromoney, a reference publication in international finance;
- BNP Paribas is also part of the 2019 “Global 100 most sustainable corporations in the world” ranking published by Canadian specialist sustainability magazine Corporate (24th rank);
- As of end-2018, BNP Paribas’ shares are currently listed in the following indices: Bloomberg Financial Services Gender-Equality, Pax Ellevate Global Women’s Index Fund, and Thomson Reuters Global Diversity and Inclusion Index.
Learn more about our CSR policy: click here
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Pensioenfonds PostNL is the company pension fund of PostNL, the leading mail and logistics solutions provider in the Netherlands and has a total asset base of EUR 8.6 billion**.
The mandate, effective from 1 January 2020, covers custody, investment accounting, investment compliance, regulatory reporting as well as performance and risk analytics services.
The award by Pensioenfonds PostNL reinforces BNP Paribas Securities Services’ position as a leading custody services provider in the Dutch institutional market. The bank has significantly grown its presence in the Netherlands in recent years, adding capacity, developing its local expertise and expanding its offering with a new pension fund dashboard enabling its Dutch institutional clients to monitor their investments daily for better oversight and enhanced risk monitoring.
René van de Kieft, Chairman of Pensioenfonds PostNL, said: “In the search for a new custodian, we selected BNP Paribas Securities Services, a stable, leading global provider with a solid infrastructure. Their Dutch team, which responded to our specific wishes for the fulfilment of the mandate, their capacity and set-up in the Netherlands met our specific requirements. This gives us confidence in BNP Paribas Securities Services. The transition process that will take place in the coming months is of course exciting, but as a board we will be close to the process, ensuring that everything runs as smoothly as possible.”
Mark Schilstra, Head of the Netherlands and the Nordics at BNP Paribas Securities Services, added: “We are delighted to welcome Pensioenfonds PostNL as a client. This mandate win highlights our strong growth in the Dutch institutional market and our ability to deliver operational innovation and best-in-class service to major institutional investors. We look forward to our long-term partnership with Pensioenfonds PostNL.”
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Contact: Annemieke Plantiga annemieke.plantinga@bnpparibas.com
BNP Paribas, a leading European provider of banking and financial services, announces an equity investment in Forge Global, Inc. (“Forge”), the leading marketplace for pre-IPO securities, in addition to a strategic product collaboration. The collaboration will involve the development and distribution of investment products providing exposure to Pre-IPO / private innovation companies. Angel Rodriguez-Issa, Global Head of Strategic Investments at BNP Paribas Global Markets, joins Forge’s board as an observer.
In response to increasing global customer demand for investment opportunities and economic exposure to shares of Pre-IPO / private innovation companies, BNP Paribas’ world-renowned derivatives group has collaborated with Forge to create a structured equity product that is the first of its kind in this asset class. Leveraging Forge’s technology, data and global relationships across “unicorn” firms, the product will be linked to a diversified basket of private shares. The selection process for the securities held in the aforementioned investment product is based on similar criteria used by venture capitalists.
“This relationship represents a sea change not just for global investors but for high-growth companies seeking liquidity,” said Kelly Rodriques, CEO of Forge. “With BNP Paribas, and through the Forge platform, we’re bringing cutting edge financial products to market that provide investors unprecedented access to pre-IPO securities while presenting new options for private companies to raise money and control their financial future.”
With over 300 unicorns in the world, representing over $1 trillion in enterprise value, many investors – including institutional and high net worth clients of global banks – are looking for access to these private innovation companies.
“Institutional investment in pre-IPO companies is a new market for BNP Paribas, which we believe will be compelling to our clients who are looking to diversify their portfolios and tap into private technology growth potential,” said Nicolas Marque, Global Head of Equity Derivatives at BNP Paribas. “As one of the first banks to engage in this type of strategic collaboration, BNP Paribas continues to demonstrate our commitment to providing leading-edge solutions to our institutional and corporate clients.”
“The introduction of a structured product solution solves a clear access need to private equity exposure,” added Sohail Prasad, Founder and President of Forge. “The market has demonstrated strong demand for innovation companies across all investor types. We’re incredibly excited to partner with BNP Paribas for the launch of a $1 billion series of investment products and look forward to further collaboration to enable liquidity in this asset class.”
***
About Forge Global, Inc.
Forge is a premier trading, settlement and custody partner for a wide range of investors in the private markets. Established in 2014 as Equidate Inc., the company empowers investors and shareholders by enabling liquidity in the private markets and has completed nearly $2 billion in transaction volume since inception. Forge was founded by Y Combinator alumni and backed by top investors including Tim Draper, Peter Thiel, FT Partners and Munich Re. Forge’s platform allows employees and investors in privately held innovation firms to liquidate a portion of their shares, and provides private and institutional investors access to top companies like Spotify, Lyft, and 23andMe before their IPO
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 72 countries, with more than 202,600 employees, of which almost 155,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance.
In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending.
BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
Press contact
Media Contact for Forge:
Hotwire Global Communications Agency
forge.us@hotwireglobal.com
Media Contacts for BNP Paribas:
Mylene Benmoussa
+1 212 841 2351
mylene.benmoussa@us.bnpparibas.com
BNP Paribas and the ITF announce the next phase of their long-standing association: focus on women and junior tennis, while ending the “BNP Paribas Davis Cup” title sponsorship
-to turn today’s underserved and deserving tennis hopefuls into tomorrow’s champions-
- BNP Paribas and the John McEnroe Tennis Academy join forces to give young deserving American tennis players equal opportunities and the best chance of reaching the highest levels of competition.
- The new program will be comprised of 10 young players – boys and girls between the ages of 11 and 17 – selected and trained under the direct supervision of Patrick and John McEnroe.
- This new team expands on “BNP Paribas Young Talent Team” launched by BNP Paribas in May 2018 with Jo-Wilfried Tsonga, and the French Tennis Federation and the “BNP Paribas Kids Fête le Mur Team” partnership announced March 15 with Yannick Noah.
BNP Paribas, a dedicated partner to world tennis since 1973 with engagement to the younger generation a main component of its core policy, has decided to show further initiative by training young players who embody the future of tennis. Together with the John McEnroe Tennis Academy (JMTA), BNP Paribas launches “Team BNP Paribas Mac 1” to help the most promising and deserving young American talents to reach the next level. This program builds on initiatives announced last year with Jo-Wilfried Tsonga and Yannick Noah March 15.
Starting September 2019 and backed by an operating budget of $500,000 during its first full year – with additional support from the Johnny Mac Tennis Project (JMTP) and with matching underwriting support from Sportime LLC – the “Team BNP Paribas Mac 1” program will be able to provide year-round training and coaching to American hopefuls. The program will take place at the John McEnroe Tennis Academy at Sportime Randall’s Island in New York City and will be under the direct supervision of Patrick and John McEnroe.
“Team BNP Paribas Mac 1” members will be supported in their on and off court training as they progress to new and greater heights:
- Financial assistance to allow intensive training and access to local, national and international competition;
- Personal assistance in preparing for the demands of collegiate and professional tennis, including image management, educational success, literacy, life-skills and more.
Patrick McEnroe, Co-Director of JMTA and President of JMTP, said: “This program will address a major challenge to many young American tennis hopefuls, especially those in the greater NYC area with the cost of their training, which adds up to tens of thousands of dollars each year.”
John McEnroe, Co-Founder of JMTA and JMTP and Mentor of the “Team BNP Paribas Mac 1”, explains: “The major goal of ‘Team BNP Paribas Mac 1’ will be to find and support young American players who do not have the personal or financial resources to train or compete with the best in the world.”
Jean-Yves Fillion, CEO of BNP Paribas USA and Chairman of CIB Americas, said: “BNP Paribas has a long and dedicated history of supporting all types of tennis programs around the world, including those which help young New York City area boys and girls fulfill their potential and become world class tennis players, such as our “CityParks Tennis” program. We are excited to be working with John and Patrick McEnroe and the JMTA again.”
Players will be recruited from among the most talented students currently enrolled in the John McEnroe Tennis Academy, through ongoing cooperation with the City Parks Foundation, with other tennis charities, and through an open talent search, including a well-publicized public try out in the spring of 2019, with annual try outs thereafter.
Participants will be selected between now and September 2019 on the basis of both tennis and athletic criteria (results and future potential) and more general and ethical criteria, including attitude, team-involvement and academic outcomes.
Means testing will be part of the application process through which “Team BNP Paribas Mac 1” players will be chosen by a Selection Committee made up of:
- John McEnroe, Co-Founder of JMTA and JMTP and Mentor of the “Team BNP Paribas Mac 1”;
- Patrick McEnroe, President of JMTP and Co-Director of JMTA; and Lead Coach for the “Team BNP Paribas Mac 1”;
- Jordan Botjer, Executive Director of JMTP;
- Caryn Epstein, Head of Events, Corporate Partnerships & Philanthropic Initiatives Americas at BNP Paribas
Members of the team will receive support for one year, be aged between 11-14 years old on entry to the program, and will receive support for one year, renewable annually at the discretion of the Selection Committee up to a maximum of 3 years.
PRESS CONTACTS:
BNP Paribas
Guy Taylor +1 917 767 1593 – guild.taylor@us.bnpparibas.com
Floriane Ettwiller +33 (0)7 62 27 48 34 – floriane.ettwiller@bnpparibas.com
John McEnroe Tennis Academy / Johnny Mac Tennis Project / Sportime
Jordan Botjer +1 212 427 6150 – jbotjer@jmtpny.org
Bennett Schlansky +1 212 427 6150 – bschlansky@sportimeny.com
*****************
NOTES TO EDITORS
About BNP Paribas and tennis
BNP Paribas is today the number one partner to tennis worldwide, with a commitment, unrivaled in sport, which goes back all the way to 1973. The Group’s support covers all levels and dimensions of the game all over the world, including singles, doubles, team tennis, wheelchair tennis and family tennis, ranging from beginners’ training to the top professional tournaments.
- Professional Tennis: Official sponsor of the French Open at Roland Garros; title sponsor of the Davis Cup by BNP Paribas and the Fed Cup by BNP Paribas; title sponsor of 2 ATP Masters 1000 tournaments – BNP Paribas Open at Indian Wells, the Internazionali BNL d’Italia (Italian Open) in Rome; partner to the Monte Carlo Rolex Masters, Open 13 (Marseille), Open Parc de Lyon, the BGL BNP Paribas Luxembourg Open, the Fever-Tree Championships (Queen’s Club, London) and the European Open (Antwerp);
- Wheelchair Tennis: BNP Paribas Open de France; BNP Paribas World Team Cup;
- Junior & University Tennis and Academies: The Junior Davis Cup by BNP Paribas and Junior Fed Cup by BNP Paribas; the Master’U BNP Paribas;
- Amateur Tennis: Sponsor of the BNP Paribas Family Trophy; also providing support to over 1,000 amateur tournaments around the world through partnerships with more than 20 national tennis federations; also working with dozens of tennis-based charities.
- Young generations programs: ‘Team BNP Paribas Mac 1’ with John and Patrick McEnroe, BNP Paribas Young Talent Team, mentored by French player Jo-Wilfried Tsonga, in association with the FFT, ‘BNP Paribas Kids Fête le Mur Team’ within French player Yannick Noah’s charity organization ‘Fête le Mur’.
Having entered into all these partnerships, BNP Paribas set up a program in 2011 called We Are Tennis, whose purpose is to promote interest in the game of tennis all over the world. The wearetennis.com website and its social network accounts bring together a community of tennis lovers and dedicated fans from all continents who are keen to obtain the latest news from the Tour. Furthermore, in 2015 BNP Paribas created the We Are Tennis Fan Academy, which enables fans to express their passion for tennis as never before.
About the John McEnroe Tennis Academy
In September 2010, tennis legend John McEnroe and Sportime partnered to launch the John McEnroe Tennis Academy, in John’s hometown of New York City, at the Sportime Randall’s Island Tennis Center in Manhattan. Sportime Randall’s Island is Sportime’s flagship location, and the flagship location of the Academy. In September 2012, JMTA expanded to Sportime Lake Isle, an 8-court, state-of-the art, year-round facility in lower Westchester, and to Sportime Syosset in central Long Island, an 11-court indoor facility that has long served as Sportime’s high performance training center on Long Island. In 2015, JMTA Summer Tennis Training was added in the Hamptons, at Sportime Amagansett, Sportime’s 34-court, seasonal, outdoor tennis facility in the Town of East Hampton. With the satellite locations, the JMTA brand currently covers 4 sites with a total of 73 tennis courts, serving approximately 1,500 players annually. Learn more: www.jmta.com.
John’s passion and belief is that great players can be developed in urban settings, while still having the opportunity to live at home, pursue their educational goals, and participate in a variety of sports and extracurricular activities. The Academy works to recruit the most talented and the most highly motivated young athletes in the New York Metropolitan area and beyond. Inspired by the vision and daily presence of Johnny Mac, under the guidance of JMTA Managing Director, Bennett Schlansky, executed daily by Co-Directors Patrick McEnroe and Lawrence Kleger, and featuring an international staff of tennis, athletic training and performance directors and coaches, JMTA delivers a complete on and off-court training program, including mental toughness, sports vision training, video analytics and more, designed to assure the best possible outcome for serious junior players. JMTA’s youngest students, who train with red and orange balls on 36’ and 60’ courts, participate in cutting-edge Mac Red and Mac Orange programs designed by world-renowned U-10 visionary Mike Barrell of Evolve 9, and executed by Sportime/JMTA’s expert U-10 directors and coaches.
About the Johnny Mac Tennis Project
The Johnny Mac Tennis Project (JMTP) changes young lives by removing the economic and social barriers to success through tennis. A 501(c)(3) nonprofit, JMTP introduces the sport of tennis as a life-long health, fitness and social activity to thousands of under-resourced New York City area kids, particularly those living in East Harlem and the South Bronx, two communities immediately adjacent to its base at Sportime Randall’s Island. For a smaller group of dedicated young athletes, JMTP provides a pathway to success through competitive tennis, leading to college scholarships, careers in the industry, and, for a few, professional tennis careers and, perhaps, Grand Slam titles. Learn more: www.jmtpny.org.
About Sportime Clubs
Since 1994, Sportime has been proud to operate the finest tennis facilities in New York State. Sportime locations currently offer over 150 indoor and outdoor tennis courts at 13 sites across Long Island, in NYC, in Westchester and in the NY Capital Region. Sportime clubs are state-of-the-art, yet affordable, and feature the best tennis, fitness and turf and rink sports facilities, and programs, including the John McEnroe Tennis Academy and Sportime Volleyball Club elite volleyball training, serving individuals of every age and athletic ability, 365 days a year. Learn more: www.sportimeny.com.
New York, 26 September 2018: For the first time, finance leaders are joining world leaders from government and health today to launch The Tobacco-Free Finance Pledge.
The Pledge encourages signatories to consider the adoption of tobacco-free finance policies across lending, insurance and investment, in line with the United Nations’ Sustainable Development Goals and the World Health Organization Framework Convention on Tobacco Control. The ultimate goal is to reduce the current annual death toll of 7 million people a year¹ dying from tobacco-related illnesses. According to the World Health Organization, tobacco consumption is the single largest preventable cause of death.
This initiative was launched today at United Nations’ Headquarters during UN General Assembly week, at a high-level side event co-sponsored by the French and Australian Governments, and featured many speeches, including from HRH Princess Dina Mired of Jordan; Ms. Agnes Buzyn, Minister of Solidarity and Health, France; Mr. Paul Blokhuis, State Secretary for Health, Wellbeing and Sport, Netherlands; Dr. Tedros Adhanom, Director General of the World Health Organization; Dr. Vera Luiza da Costa e Silva, Head of Convention Secretariat, WHO Framework Convention on Tobacco Control; Ms. Annette Dixon, Vice President for Human Development at the World Bank Group; John Chiang, State Treasurer California; Jean-Laurent Bonnafé, Director and CEO, BNP Paribas; Denis Duverne, Chairman, AXA; Adam Tindall, CEO, AMP Capital and François Riahi, CEO, Natixis.
The Pledge was initiated by not-for-profit Tobacco Free Portfolios, with CEO and Radiation Oncologist Dr. Bronwyn King and her team developing The Pledge in collaboration with UN agencies and finance sector leaders AXA, BNP Paribas, AMP Capital and Natixis.
The Pledge was launched today with over 120 Founding Signatories and Supporters. They include financial institutions from around the world collectively representing trillions of dollars of capital, including assets under management of over USD 6.4 trillion, corporate loan books of over USD 1.8 trillion and insurance premiums of over USD 179 billion. Ontario Teachers’ Pension Plan, with C$193.9 billion in net assets at June 30, 2018, also signed The Pledge today, and announced its adoption of a tobacco-free position.
The global financial community is recognizing the increasing commercial, regulatory and social headwinds facing the tobacco industry and the need to ‘denormalize’ tobacco by ending all business and financial ties with this industry. The finance sector has long been a missing piece in tobacco control, treating tobacco as a ‘normal’ participant in the global economy and financing the industry through lending, insurance and investment. This public declaration of support for tobacco-free finance, and the call to others to follow suit is a decisive step, highlighted by increasing momentum and change.
MSCI, the world’s largest provider of environmental social and governance (ESG) indexes² and research³ today announced the launch of a suite of Ex Tobacco Involvement Indexes. This suite of indexes will be a standard offering that is easily accessible, simple to implement and will keep the cost of adoption low, reducing hurdles to removing tobacco from both passive and active portfolios.
Moving away from financing tobacco is an issue now placed firmly on the agenda of boards of financial institutions across the globe.
¹ www.who.int/news-room/fact-sheets/detail/Tobacco
² By number of indexes and by assets tracking the indexes compared with publically available information produced by FTSE and S&P Dow Jones as of September 2018
³ By coverage of companies and by number of clients based on public information produced by Sustainalytics, Vigeo/EIRIS and ISS ESG as of September 2018
Quotes:
Founder of the Pledge
1. Dr. Bronwyn King, CEO and Radiation Oncologist, Tobacco Free Portfolios
“I am delighted that Tobacco Free Portfolios has founded The Tobacco-Free Finance Pledge in partnership with global leaders. This initiative exemplifies the action required to achieve the Sustainable Development Goals, and brings us closer to a tobacco-free world.”
Collaborating Members
2. Thomas Buberl, Chief Executive Officer, AXA Group
“As a health insurer, we see every day the impact of smoking on people’s health and wellbeing. At AXA, we want to help people to live in good health and contribute positively to society. In 2016 we were the first global insurer and investor to cease investing in and insuring tobacco, with the strong conviction that only a collective action can bring about change. This is why I am very proud to see today the strength of this collective Pledge.”
3. François Riahi, Chief Executive Officer, Natixis
“We strive to make a positive contribution to all communities. This is our responsibility, and it is also the basis of our strategy to create sustainable value. As a stakeholder in the global shift to tobacco-free finance, Natixis is committed to supporting the efforts of public and financial players to work together and match our words with action.”
4. Jean-Laurent Bonnafé, Director and Chief Executive Officer, BNP Paribas
“We’re committed to financing economic development that has a positive impact on society. This includes action to ensure healthy lives for present and future generations. In this respect, we consider that the Tobacco-Free Finance Pledge is a milestone initiative. Having ceased our financing and investment activities related to tobacco companies, we are proud to be one of its Founding Signatories.”
5. Adam Tindall, CEO, AMP Capital
“AMP Capital firmly believes in responsible investment and engagement to drive meaningful change in the community. Our tobacco-free position recognises tobacco is distinct with no safe level of use or opportunity for effective engagement. It reflects the changing attitudes of our clients who don’t want to be invested in harmful products.”
6. Fiona Reynolds, Chief Executive Officer, Principles for Responsible Investment
“Investors are becoming very concerned about increased regulation on tobacco products. This issue, combined with stakeholder uneasiness related to tobacco products, means that many are choosing not to hold tobacco stocks over the long-term.”
7. Eric Usher, Head, UN Environment Finance Initiative (UNEP FI)
“We need wide-ranging action globally to achieve the Sustainable Development Goals and tobacco control is a clear example which can help meet 14 of the 17 goals. Finance must be part of the solution and The Pledge is a great step forward to achieving sustainable finance and a healthier society.”
8. Butch Bacani, Programme Leader, UN Environment’s Principles for Sustainable Insurance Initiative (PSI)
“As risk managers, insurers and investors, the insurance industry plays a key role in promoting good health and well-being. By signing the Tobacco-Free Finance Pledge, insurers are helping prevent the forecasted one billion deaths this century due to tobacco-related illness. Quitting is the only healthy and sustainable choice.”
Tobacco-Free Announcement
9. Barbara Zvan, Chief Risk & Strategy Officer, Ontario Teachers’ Pension Plan
“Given the reputational, social and commercial headwinds facing the tobacco industry today, we are no longer confident that it represents an attractive investment opportunity for a long-term investor. Signing this Pledge reinforces and institutionalizes our conviction that tobacco is no longer a sensible investment for our Fund.”
Media Contact details:
Tobacco Free Portfolios
Dr Rachel Melsom (UK), Director UK and Europe +44 7771 551 712, rm@tobaccofreeportfolios.org
Clare Payne (Australia), Chief Global Strategy Officer, +61 434 460 402, cp@tobaccofreeportfolios.org
AXA
Paris HQ, +33 1 40 75 46 7, media@axa.com Paris HQ
Natixis
Daniel Wilson (France), Head of Media, +33 1 58 19 10 40, daniel.wilson@natixis.com
BNP Paribas (USA)
Guy Taylor (USA), Head of Media Relations, Americas, +1 212 471 6775, guild.taylor@us.bnpparibas.com
Keely Gispan (USA), Assistant VP Media Relations, Americas, +1 239 272 9032, keely.gispan@us.bnpparibas.com
AMP Capital
Mark Roberts (Australia), AMP Capital Public Affairs, +61 466 328 581, mark.roberts@ampcapital.com
Katie Sunderland (UK), AMP Capital Public Affairs, +44 7788 183377, katie.sunderland@ampcapital.com
PRI
Joy Frascinella (UK), Head of PR, +44 20 3714 3143, Joy.frascinella@unpri.org
UNEP FI
Sally Wootton, UNEP FI Communications Lead, +41 22 917 8591, sally.wootton@un.org
PSI
Olivia Fabry, PSI Programme Supervisor, +41 22 917 8887, olivia.fabry@un.org
OTPP
Pav Jordan (Canada), Senior Manager, Investment Communication, pav_jordan@otpp.com, Direct: 416-228-6862, Mobile: 647-966-5469
More information:
> The Pledge
> Tobacco-Free Finance Pledge project website
> Tobacco Free Portfolios website
> PSI website
> UNEP FI website
> Link to media details dropbox: https://www.dropbox.com/sh/4uzrfxdl39zsa73/AAD85Xa3c6AP7jgRXHHb96PBa?dl=0
On Wednesday 5 September 2018, First Hawaiian, Inc. (“FHI”) announced the pricing of a new secondary offering of shares of its common stock (the “Secondary Offering”).
The Secondary Offering comprises 20.0 million shares, or 14.8% of FHI’s common stock, to be sold by an affiliate of BNP Paribas representing an aggregate public offering price of approximately USD 577 million1.
Following the Secondary Offering, BNP Paribas will hold 18.4% of FHI’s common stock (or 16.2% if the underwriters exercise the option to purchase additional shares in full).
It is expected that this transaction will have a positive impact of 5 basis points on the Group CET1 ratio as at 30 September 2018.
As a reminder, BNP Paribas announced on 31 July 2018 the success of a previous secondary offering2 generating at least 10 basis points on the Group CET1 ratio as at 30 September 2018. The combined impact of these two transactions will therefore be of at least 15 basis points on the Group CET1 ratio as at 30 September 2018.
BNP Paribas confirms that it will consolidate FHI in its financial statements under the equity method as of third quarter 2018.
A registration statement relating to FHI’s common stock has been filed with, and declared effective by, the Securities and Exchange Commission. The offering has been made only by means of a prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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1 BNP Paribas has granted the underwriters a 30-day option to purchase up to an additional 3 million shares of FHI common stock. If the underwriters exercise this option in full, the total offering would comprise 23.0 million shares, or 17.1% of FHI’s common stock, to be sold by an affiliate of BNP Paribas.
2 https://invest.bnpparibas.com/sites/default/files/documents/pr_bnpp_pricing_fhi_30.07.18vdef.pdf
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including around 149,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance.
In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending.
BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
Press contacts
Bertrand Cizeau bertrand.cizeau@bnpparibas.com +33 (0)1 42 98 33 53
Julia Boyce julia.boyce@bnpparibas.com +33 (0)1 43 16 82 04
Coralie France-Savin coralie.francesavin@bnpparibas.com +33 (0)1 40 14 94 89
BNP Paribas Named World’s Best Bank for Sustainable Finance in Euromoney Awards for Excellence 2018
London, Paris – 12 July 2018 BNP Paribas is the world’s best bank for Sustainable Finance, according to the Euromoney Awards for Excellence 2018.
In granting this award, Euromoney underlined the significant steps taken by BNP Paribas aimed at having a positive impact on society.
Helen Avery, Sustainable Finance Editor, Euromoney said: “BNP Paribas has committed itself to sustainable finance in a way that is unmatched in the sector. By turning down deals and pulling out of sectors that are not sustainable, as well as driving new sustainable finance initiatives across all of its businesses.”
In particular Euromoney highlighted the Group’s decision to cease financing of oil and gas from shale and oil from tar sands, and its decision to cease financing and investment activities of tobacco companies. At the end of 2017, BNP Paribas had allocated 155bn euros towards financing projects which contribute directly to the achievement of the United Nations Sustainable Development Goals.
Jean Laurent Bonnafe, CEO, BNP Paribas said:
“We are delighted to be recognized by Euromoney in their annual awards for excellence. At BNP Paribas, we put sustainable finance at the heart of our business model. We believe banks have a crucial role to play, leveraging our place at the center of the economy, in order to bring together individuals, businesses and investors to channel resources towards projects which address the major social and environmental challenges facing society.”
“I would like to thank our clients and partners who entrust us with their projects and who have challenged us to provide new solutions as they also seek more sustainable models. And I would like to thank our staff who are passionate about having a positive impact in their work and have been a key driver in the bank’s focus on environmental and social issues.”
BNP Paribas was also recognized in the following categories:
- Best Bank for Sustainable Finance, Western Europe
- Best Bank, Luxembourg
- Best Investment Bank, France
Press contacts
Alexandra Umpleby – +44 20 7595 2436 – alexandra.umpleby@uk.bnpparibas.com
Coralie France-Savin – +33 (0)1 40 14 94 89 – coralie.francesavin@bnpparibas.com
Claire Helleputte – +33 (0)1 55 77 89 63 – claire.helleputte@bnpparibas.com
Notes to Editors
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including around 149,000 in Europe. The Group has key positions in its three main activities: Domestic Markets, International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors.
About Euromoney
For almost 50 years, Euromoney has been the leading publication for covering the growth of international finance. Over the last 12 months, its coverage has included interviews with close to 100 bank CEOs, ministers of finance and central bank governors around the world. Euromoney’s Awards for Excellence are the awards that matter to the banks and bankers who matter. They were established in 1992 and were the first of their kind in the global banking industry. This year, Euromoney received almost 1,500 submissions from banks in an awards programme that covers 20 global awards, more than 50 regional awards, and best bank awards in close to 100 countries.