Home » News » Weather. 35 French companies “worsen” global warming, according to Oxfam

Weather. 35 French companies “worsen” global warming, according to Oxfam

L’ONG Oxfam this Tuesday pinpoints several large French companies, and particularly the banks, because of their carbon footprint who ” worsen “ the global warming.

“No sector of activity is aligned with the Paris Agreement”, laments Oxfam in a report drawn up on the basis of figures provided by the company Carbon4 Finance and published at the time when work begins in Parliament on Climate law.

The Paris Agreement aims to limit the rise in temperatures to two degrees Celsius from pre-industrial revolution levels and to continue efforts to limit this rise to 1.5 degrees.

In the report, 35 French companies are analyzed, most of which are currently part of the CAC 40, index of flagship stocks of the Paris Stock Exchange. The others, including EDF, have been part of it in the past.

Fossil fuels involved

Are taken into account “Direct emissions” companies, those related to their “Electricity or heat consumption” and the “Indirect emissions”.

Only EDF, Schneider Electric and Legrand “Have a carbon footprint and commitments likely to keep them on a trajectory compatible with a warming of less than 2 degrees”.

Ten companies, including three banks (BNP Paribas, Société Générale and Crédit Agricole) “Have a trajectory associated with a warming greater than +4 degrees and 17 companies are between +3 and +4 degrees”. Finally, five companies are on a path “Which is between +2 and +3 degrees”.

“A good part (40%) of the emissions of financial actors comes from their activities in the fossil fuel sector”, says Oxfam.

“Comparison that makes no sense”

Contacted by AFP, the banks referred to the answers given in October on the occasion of the publication of another Oxfam study on the sector.

BNP Paribas criticizes a “Comparison that makes no sense”, because the report attributes to him “The climate footprint corresponding to all the companies to which it gives credit, and compares it to the carbon footprint of these different companies”.

Société Générale attacks data that “Do not reflect the significant efforts undertaken […] these last years “ and Crédit Agricole with well-founded conclusions “On scientifically erroneous grounds”.

Aeronautics is not spared. Airbus, is moved Oxfam, “Emits 66 times more greenhouse gases than SNCF to generate one euro in turnover”.

Joined by AFP, Airbus referred to the publication on Friday of the emissions produced by its planes and the commitment of the aviation sector to halve its carbon dioxide emissions by 2050 compared to 2005.

In conclusion, Oxfam asks to include in the bill “Climate and Resilience” the obligation for companies to publish their carbon footprint, a ” roadmap “ which leads to compliance with the Paris Agreement and an investment plan.

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