BNP Paribas Wealth Management has been named Western Europe's best private bank for sustainability this year. One of the many factors supporting this decision is the banks’ ability to embed sustainability into all its product and services by prioritising portfolio assessment and the upskilling of its bankers.
The French lender has long been a strong contender in the sustainability category, but it was the notable efforts made last year that saw it take the award. These include the creation of the Wealth Engagement Services department, which brings together the sustainability office, individual philanthropy advisory services, and wealth planning to coordinate the development of sustainability practices in BNPP WM.
In 2023, the bank also founded the sustainability office governance committee to oversee the integration of sustainability practices into investment universes for advisory and discretionary portfolio management solutions, including strengthening some of the exclusion policies across asset classes.
Through its ‘Clover Evaluation’ process, the bank scores each financial instrument on the effect of investments according to sustainable development goals
Through its ‘Clover Evaluation’ process, the bank scores each financial instrument from zero to 10 to measure the effect of investments according to sustainable development goals.