THE 1ST PART OF THE 2020 BNP PARIBAS GLOBAL ENTREPRENEUR REPORT: KEY DATA
BNP Paribas Wealth Management, one of the leading global private banks for sustainable investment, is bringing a new sustainable approach to scale up purpose and positive impact in investments and finance for our clients who are increasingly demanding this commitment.
In the past two years, the market for sustainable investments has grown at 34% to above US$30bn, with the Covid pandemic accelerating the trend. Indeed, 64% of investors believe the Coronavirus crisis is a tipping point for ESG investments.
“Expectations are different from one region to another, but entrepreneurs all want to contribute and use their wealth to leave a positive mark on society. The Covid-19 pandemic has also accelerated sustainable investing: almost two thirds of investors believe the coronavirus crisis is a tipping point for ESG investment. The wealth management industry has a major part to play in providing the right level of information, transparency and solutions to support this entrepreneurial commitment. Going one-step further this year, we recently launched our new, game-changing sustainability rating methodology across all asset classes, putting us at the forefront of the private banking industry. Thanks to this methodology, our clients can compare the level of sustainability of the investments we recommend. By the end of 2021, all of our recommended universe will be rated”.
Vincent Lecomte, CEO of BNP Paribas Wealth Management
Sustainability is at the core of the bank’s DNA and drives its offering, with 1/3 of the bank’s investable assets already being sustainable; the volume of sustainable funds AUM increased by 40% over the past 12 months.
We launched our new, unique sustainability rating methodology (the clover rating) at the end of 2020 and this will be a game-changing initiative for the industry. It will facilitate clients’ adoption of sustainable investments. How? A clover rating is given to all recommended financial products, whether sustainable or not, to measure their sustainability level. Through this consistent approach with criteria adapted to all asset classes, clients can immediately assess the level of impact of the investments they choose, align their investments with their values and understand the level of Sustainability of their entire portfolio.
Better advice starts with better knowing clients. To that end, BNP Paribas Wealth Management has accelerated the deployment of its unique digital assessment tool myImpact, a digital tool co-created with clients to help clients identify their own impact preferences and priorities in line with the United Nations 17 Sustainable Development Goals.
Furthermore, our training program for relationship managers has evolved over the past years to ensure that we can fully accompany all our clients in their impact journey.