Responsible investing at BNP Paribas Wealth Management is defined as an investment category significantly taking into account sustainable development challenges. More specifically, it is a type of investment which:
Such investments may include:
Responsible investing is a combination of investment solutions for clients who would like to help finance the society’s ecological transition and an approach which aligns investments with personal values.
This investment approach is also recognised through the European Green Deal, because the former is key for achieving carbon neutrality by 2050 and thus for limiting global warming below 2°C . In the wider sense, this approach helps to redirect capital flows towards social and environmental-friendly activities. Beyond the fight against climate change, responsible investment is thus a way to preserve and restore biodiversity and ecosystems, and to fight inclusion, etc.
The revamped EU MiF II Directive (also known as “MiFID ESG”), which came into force in August 2022, sets out an application of the European Green Deal for investments. It requires financial product advisors and distributors to assess clients' sustainability preferences and to ensure that the financial products they offer are aligned with said preferences. Other points of reference for responsible investment are used, for example labels (e.g. the “ISR” label in France, the “Towards Sustainability” label in Belgium).
BNP Paribas Wealth Management prefers to use the term “responsible” rather than “sustainable” to refer to the approach described above, because the term “sustainable” refers to a financial product with specific responsible characteristics, as defined by the European Sustainable Finance Disclosure Regulation (SFDR) in the financial services industry.
To facilitate our clients’ comparison of the responsibility level of investment funds presented as “responsible”, we created the Clover evaluation in 2010.
The evaluation methodology has been developed and today covers all asset classes of our recommended universe (investment funds, equities, bonds, private assets, ETFs and structured products). The assessment allows us to position all financial instruments recommended by BNP Paribas Wealth Management on a single scale of 0 to 10 clovers, within each asset class, whether the products are responsible or not.
Meanwhile, the European regulation on sustainable finance has gradually changed. Thus, in countries where it is applicable, for the construction process of discretionary portfolios and investment offers in advisory services, products are first selected on the basis of clients’ ESG preferences (identified through the mandatory MiFID ESG questionnaire) and of regulatory information provided by asset management companies.
At BNP Paribas Wealth Management, the Clover evaluation provides further insight into the level of responsibility for the products identified.
In countries that are not subject to the European regulation, the Clover methodology helps to compare the level of responsibility of several investment options, within each asset class.
Regardless of management solutions (execution only, advisory management or discretionary portfolio management), we offer our clients a wide range of financial instruments integrating varying levels of sustainability. Clients then choose appropriate investment options to match their objectives or expectations of Return on Investment, level of risk and sustainability preferences.
Eléonore Bedel
Chief Sustainability Officer,
BNP Paribas Wealth Management
BNP Paribas Wealth Management benefits from a continually strengthened expertise in both traditional and responsible investing through a dedicated Responsible Investing team established in 2006, the same year the UN Principles for Responsible Investment were created.
We would be delighted to advise and guide you in selecting investment solutions that best suit your objectives and personal convictions. Moreover, our approach to responsible investing, and more widely, the integration of environmental and social challenges into our activity were applauded by the 2024 Euromoney award, naming BNP Paribas Wealth Management "Best Private Bank for Sustainable Development”, for the third consecutive year.
There are different approaches, depending on your sustainability goals and preferences, from ESG integration to impact investing and philanthropy.
BNP Paribas believes that responsible investment goes beyond the integration of ESG criteria because in addition, a responsible product must not cause significant harm. Three sub-approaches are possible: Responsible Multi-sector, Responsible Thematic or Impact Investing.
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