Report 2002

BNP PARIBAS’ Sustainable Development Policy

An entire section of the Group’s review of operations has been devoted to the subject of sustainable development, setting out how BNP Paribas’ policy in this area is put to work on a daily basis through the Group’s core values and managerial approach. In addition, in 2003, a special Sustainable Development site will be added to the Group’s website, providing more detailed, regularly updated information on written guidelines, charters and action plans, as well as on internal and external events.
The Sustainable Development section is focused on the Group’s relations with its stakeholders, comprising shareholders, customers, suppliers and employees, as well as with the community and the environment. Issues such as corporate governance, ethics and credit policy are also discussed in detail.
Social and environmental information required in accordance with governmental order 2002-221 dated 20 February 2002 in application of Article 116 of the NRE Act, is provided in the appendices to the review of operations.

A structured approach to Sustainable Development

The Group’s sustainable development policy is overseen by the Secretary of the Board of Directors – the CEO’s advisor responsible for ensuring that matters relating to both Sustainable Development and Corporate Governance at BNP Paribas are properly addressed.
The operational aspects are coordinated by the Group’s Sustainable Development Officer.
Sustainable Development procedures are carried out through:

• BNP Paribas’ operating units and corporate offices which are responsible for ensuring that their operations comply both with Group sustainable development criteria, and with other criteria specific to their particular business area;
• cross-business functions focused on guidelines, co-ordination and reporting measures that draw on the logistics of Group Human Resources;
• ethics-compliance procedures, which insure that any impact that Group operations may have on the environment and/or society are effectively taken into consideration in the Group’s global reporting system.

The Sustainable Development Supervisor and Officer submit strategic proposals to a General Management Committee for approval.
This Committee comprises the Chairman and Chief Executive Officer of BNP Paribas, the Chief Operating Officers, heads of divisions, head of Group Human Resources, head of Group Communications and Advertising, head of Group Finance, and head of Investor Relations.
If necessary, the Sustainable Development Officer calls a Steering Committee meeting, composed of specialists appointed by the Group’s operating units and corporate offices.

Market viewpoint: BNP Paribas’ sustainability ratings

In 2002, BNP Paribas was selected to be included in the four benchmark sustainability indexes: Dow Jones SI World, Dow Jones SI Stoxx, FTSE4GOOD and ASPI Eurozone.

» Ratings performance

SAM Research Inc, a ratings agency that assesses whether companies should be included in the Dow Jones Sustainability Index (DJSI) concluded that "BNP Paribas has a very good overall sustainability performance compared to the industry average."

» Aspi Eurozone, the leading European sustainability index launched in June 2001 by rating agency Arese, has issued its latest rating on BNP Paribas, details of which are shown in the table below on a scale of -- to ++.
Arese said that:
"BNP Paribas strives to fulfil all stakeholder criteria by:
- restricting over-exposure of the Group’s brand image yet without scaling down visibility of its social and environmental practices
- taking the initiative in social and environmental matters, while steadily focusing on the bottom line."

A large number of agencies specialised in sustainability issues, interacted closely with BNP Paribas’ Sustainable Development Officer in 2002, in connection with updating their research analyses. These agencies have squarely placed the Group in their universe of companies that are committed to socially responsible investing.