Bpifrance wants to become the climate bank for entrepreneurs


Bpifrance wants to become the climate bank for entrepreneurs

The public investment bank wants to encourage French companies to green their activities. Bpifrance will organize, in early April, a day dedicated to financing the energy and ecological transition of businesses during which it intends to establish itself as the climate bank for entrepreneurs.

The year 2019 marked a turning point in the funding of green activities, for Bpifrance. “The passage from the moment when everyone remains attentive, to the moment when everyone panics occurred this year”, estimates Nicolas Dufourcq, the director general of the public investment bank.

The indicator of this trend is the investment loans granted by the bank to companies. Those dedicated to renewable energy, cleantech and circular economy projects recorded an increase of almost 30% in 2019, with 1.8 billion euros in loans granted. “We have always made credit for the climate transition, but their proportion exploded in 2019,” reveals Nicolas Dufourcq.

A climate agenda for early April

Bpifrance plans to support this trend and strengthen its action for the transition to a low-carbon economy. “Bpifrance is the climate bank for entrepreneurs,” says the head of the public bank. A reference to another public bank, the European Investment Bank (EIB), which has also become a climate bank by committing to stop funding fossil fuel projects by 2022.

Bpifrance should detail its climate agenda and its commitments to decarbonize its activity on April 7, during a day called “Day E” dedicated to the energy and ecological transition of entrepreneurs. This day will also be an opportunity for the bank to encourage companies to accelerate their energy transition.

A first announcement was already made on January 30, with the signing by the public bank of the Poseidon Principles. These, endorsed by several international banks, aim to disclose and reduce the carbon intensity of their portfolios linked to maritime transport. Bpifrance, via its export guarantee subsidiary, contributes to the financing of civil ships and shipyards.

Arnaud Dumas, @ ADumas5

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