Climate: Oxfam pinpoints large French companies for their carbon footprint
Oxfam studied the emissions caused by 35 French companies (photo illustration).
INA FASSBENDER AFP / File
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According to the NGO, the activities of ten large French groups correspond to global warming above 4 degrees.
Among them, three banks: BNP Paribas, Société Générale and Crédit Agricole.
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Large French companies are far from meeting the objectives
of the Paris Agreements
on reducing greenhouse gas emissions, on the contrary, they are contributing to global warming.
This is the observation of the NGO Oxfam France, which today publishes a report on the carbon footprint of 35 large French groups, most of which are part of the CAC 40, index of flagship stocks on the Paris stock exchange.
Ten companies “
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
”.
📣 EXCLUDED - The CAC40 companies are leading us straight towards a global warming of + 3.5 ° C!
For the first time, we are unveiling the climate trajectory of each of the largest French companies and ... it's heating up!
👉 https://t.co/QEK6KflOjF pic.twitter.com/WiwkKWo8Xe
- Oxfam France (@oxfamfrance) March 1, 2021
These are the “direct emissions” of companies, those linked to their “
consumption of electricity or heat
” and “indirect emissions” that have been taken into account.
And all sectors are concerned: from Airbus to Total via major French banks: BNP Paribas, Société Générale and Crédit Agricole.
BNP Paribas criticizes a "
comparison that makes no sense
", because the report attributes to it "
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 considers that "
the significant efforts undertaken
[...]
in recent years
"
are not taken into account
and Crédit Agricole regrets conclusions based "
on scientifically erroneous bases
"
Oxfam gives some good marks, however.
EDF in particular, which was part of this black list, now has "
commitments likely to keep them on a trajectory compatible with a warming of less than 2 degrees
".
Just like Schneider Electric and Legrand.
A good part of the greenhouse gas emissions (40%) of financial players come from their activities in the fossil fuel sector, says Oxfam.
4 # CAC40 companies each have a carbon footprint greater than that of France!
This is what our new report reveals which unveils the climate trajectory of large French companies 🌡️
👉 https://t.co/jzpOAyObc7 pic.twitter.com/wulTcLjl1Y
- Oxfam France (@oxfamfrance) March 2, 2021
In its recommendations, the NGO calls for greater transparency from French groups and the obligation to publish their carbon footprint, as well as a "
roadmap
" and an investment plan to stick more closely to the objectives of the Paris Agreement.
Why do companies pollute so much?
This is because they are subject to an economic model that will favor the search for short-term profits rather than investing in ecological transition and having a long-term vision ...
Alexandre Poidatz, Climate Advocacy Officer for Oxfam
►
To read the Oxfam report:
Climate, Cac degrees too much
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