In April 2021, La Banque Postale signed the letter of commitment of the Net Zero Banking Alliance, spearheaded by UNEP FI (United Nations Environment Program Finance Initiative), whose ambition is to achieve zero net emissions by 2050 at the latest. This international initiative, which brings together 102 banks from 40 countries, illustrates the banking sector's commitment to decarbonization.
After offsetting residual emissions since 2018 across its entire operating perimeter, La Banque Postale has committed to achieving a goal of zero net emissions by 2040 - 10 years ahead of the deadline set by the European Union and scientists for achieving the Paris Agreement targets - across all its banking activities.
This ambition requires a definitive phase-out of thermal coal and the oil and gas sectors by 2030. To ensure that this approach is rigorously implemented, the Group relies on the work of the Science Based Targets Initiative. After participating in the work to develop methodologies for the piloted financial sector, in October 2021 La Banque Postale becomes the first European bank and one of the first global banks to have a decarbonization trajectory validated by the "Science Based Target initiative".
