Pollution (illustration).


J. David Ake / AP / SIPA

Several large French companies, including banks, were pinned on Tuesday by the NGO Oxfam because of their carbon footprint which "worsens" global warming.

"No sector of activity is aligned with the Paris Agreement", laments Oxfam in a report drawn up on the basis of figures provided by the company Carbon4 Finance and published at the time when work begins in Parliament on the Climate law .

EDF, Schneider Electric and Legrand, good students

The Paris Agreement aims to limit the rise in temperatures to two degrees Celsius from pre-industrial revolution levels and to continue efforts to limit this rise to 1.5 degrees.

In the report, 35 French companies are analyzed, most of which are currently part of the CAC 40, index of flagship stocks of the Paris Stock Exchange.

The others, including EDF, have been part of it in the past.

Companies' “direct emissions”, those linked to their “electricity or heat consumption” and “indirect emissions” are taken into account.

Only EDF, Schneider Electric and Legrand "have a carbon footprint and commitments likely to keep them on a trajectory compatible with a warming of less than 2 degrees".

Ten companies, including three banks (BNP Paribas, Société Générale and Crédit Agricole) "have a trajectory associated with a warming greater than +4 degrees and 17 companies are between +3 and +4 degrees".

Finally, five companies are on a trajectory “which is between +2 and +3 degrees”.

“A good part (40%) of the emissions of financial actors comes from their activities in the fossil fuel sector,” says Oxfam.

Airbus "emits 66 times more greenhouse gases than the SNCF"

BNP Paribas criticizes a "comparison that makes no sense", because the report attributes "the climate footprint corresponding to all the companies to which it gives credit, and compares it to the carbon footprint of these different companies".

Société Générale is attacking data which "do not reflect the significant efforts made (…) in recent years" and Crédit Agricole at conclusions based "on scientifically erroneous bases".

Aeronautics is not spared.

Airbus, said Oxfam, “emits 66 times more greenhouse gases than SNCF to generate one euro in turnover”.

Jointly, Airbus referred to the publication on Friday of the emissions produced by its planes and the aviation sector's commitment to halve its carbon dioxide emissions by 2050 compared to 2005. In conclusion, Oxfam calls for '' Include in the “Climate and Resilience” bill the obligation for companies to publish their carbon footprint, a “roadmap” which leads to compliance with the Paris Agreement and an investment plan.


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Carbon footprint: Imported greenhouse gas emissions, largely forgotten by our climate policies?

  • Greenhouse gas

  • Oxfam

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