LONDON: BNP Paribas is rethinking sustainable finance to focus on profitable deals and on redefining what it considers sustainable, a senior executive says, as it became the latest bank to distance itself from the environmental, social and governance (ESG) label.
The shift in the French bank’s corporate and institutional banking division is to ensure sustainable finance does not come at the expense of profitability, Constance Chalchat, the division’s chief sustainability officer, said.
