May 11, 2020 / 2:34 PM / 16 days ago

BNP Paribas accelerates its exit from coal in OECD countries

PARIS, May 11 (Reuters) - French bank BNP Paribas is expanding to all OECD countries its target to end relationships with customers that use coal to generate electricity by end 2030, it said in a statement on Monday.

It said it will continue its commitment to sever links with all customers developing new coal-based production capacity in the near future, and will no longer accept any new customers that generate more than 25% of their revenue from coal-related activities.

This policy will cut by half the number of BNP Paribas corporate customers using coal to generate electricity, it said. (Reporting by Paris Newsroom; Editing by Jan Harvey)

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