BankTrack News
European groups ask BNP Paribas to include ambitious targets for storage & grids in energy transition plan
Banks need to set clear, ambitious financing targets for storage & grids
2025-04-14
BankTrack, urgewald, Cittadini Sostenibili, Coal Action Network, Reclaim Finance & ShareAction
Brigitte Alarcon, Campaigner, Beyond Fossil Fuels
BNP Paribas head office. Photo: Boubloub via Wikimedia Commons (CC BY-SA 4.0)
2025-04-14
BankTrack, urgewald, Cittadini Sostenibili, Coal Action Network, Reclaim Finance & ShareAction
Brigitte Alarcon, Campaigner, Beyond Fossil Fuels
Beyond Fossil Fuels, together with BankTrack, Cittadini Sostenibili, Coal Action Network, Reclaim Finance, ShareAction, and Urgewald, wrote to BNP Paribas because their energy transition plan is missing some key components.
What’s missing?
- Storage – Batteries and other fossil-free solutions are vital to balance renewables.
- Grids – Without modern grids, sustainable power can’t flow where it’s needed.
This is important, because Europe can’t hit its climate targets without massive investment in these two pillars. Without them, wind and solar energy get wasted and fossil fuels stay on the grid longer.
Banks need to set clear, ambitious financing targets for storage & grids – alongside your existing commitments on sustainable power production.
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