La Banque Postale is stepping up its decarbonisation strategy

La Banque Postale, which is committed to ensuring that its banking activities achieve net zero carbon emissions by 2040, is the first European bank and one of the first financial institutions worldwide to have its decarbonisation pathway recognised by the Science Based Targets initiative (SBTi), a leading independent body led by four international organisations. In connection with its ambitious greenhouse gas emissions reduction targets and in addition to its exit from coal by 2030, La Banque Postale is also announcing a complete withdrawal from fossil fuels (oil and gas) by the same date.

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The Science Based Targets initiative, led by four large international organisations – the Carbon Disclosure Project (CDP), the World Resources Institute (WRI), the United Nations Global Compact (UNGC) and the World Wide Fund for Nature (WWF) – has validated La Banque Postale’s 2030 decarbonisation pathway2 and has recognised it as compatible with the goal of keeping global warming to well below 2ºC as laid down by the Paris Agreement. This pathway covers operations specific to La Banque Postale (carbon emissions from its real estate assets and fleet of vehicles, type of fuel used, etc.) and impacts linked to its investing and borrowing activities with its customers.

As a result, La Banque Postale is the first European bank and one of the first three financial institutions in the world to be recognised by the SBTi for its climate action. The SBTi assesses and verifies companies’ greenhouse gas emissions reduction goals and, building on a scientific approach, ensures that the commitments made by these companies are compatible with the Paris Agreement.

La Banque Postale welcomes the SBTi’s announcement made this morning that it has validated its pathway to achieve carbon neutrality by 2040. Today, we are the first European bank and one of the first financial institutions worldwide to have a decarbonisation strategy that is in line with the Paris Agreement and that has been validated according to a scientific approach. The climate emergency requires us to accelerate, which leads us to a complete withdrawal from fossil fuels by 2030 at the latest.

Philippe Heim — Chairman of the Board of Directors of La Banque Postale, Executive Vice-President of Le Groupe La Poste

More information in the press release of October 14, 2021 (Pdf - 0,37 MO)

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