Supermajors shorn of major capital source as Europe’s largest oil and gas lender drops out to meet net zero climate targets

Bank aims to reduce its exposure to oil exploration and production by 80% by 2030

Turning the tap off: BNP Paribas, France's largest lender, will stop financing new oil and gas developments.
Turning the tap off: BNP Paribas, France's largest lender, will stop financing new oil and gas developments.Photo: AFP/SCANPIX
Published 11 May 2023, 11:45Updated 17 May 2023, 15:15