The subsidiary of the BNP Paribas Group is positioned in sustainable finance. To support the Kingdom, where energy transition and sustainable development are at the heart of economic transformation, the Bank has begun to deploy a 360° strategy where the environment, social issues, entrepreneurship and financial inclusion are profit in a coherent and winning approach. Some experiences were presented during its first Sustainable Finance Forum, organized on Wednesday June 15, in Rabat.
BMCI has great ambitions in sustainable finance. The BNP Paribas Group subsidiary made this clear on Wednesday, June 15, in Rabat, by organizing its very first Sustainable Finance Forum. “A meeting which is intended to be repeated once a year. The objective is to support the Kingdom’s major challenges in the areas of energy transition and sustainable development”, said François Benaroya, Deputy Head of BNP Paribas International Retail Banking and Head of Europe-Mediterranean, who came straight from Paris to chair the event (See interview on pages 12 and 13).
How does the Bank intend to do this? BMCI has a ready-made answer. This is a 360° strategy, which it has already begun to deploy, thus showing Forum participants that it already has an ecosystem in these two areas, which play a key role in the future development of the Morocco. To begin with, Phillipe Dumel, its chairman of the board, was both formal and determined.
In his welcome address, he notably declared that “BMCI, like the BNP Paribas Group, is driven by a firm desire to act to limit global warming and its social impacts. It is a resolute commitment shared by a growing number of players. We are part of a voluntary chain of which we are only one link, but which intends to fully play its role”.
Continuing his remarks, he then added that “it is within this framework that this first edition of the Sustainable Finance Forum takes place, the objective of which is, on the one hand, to promote the emergence, development, visibility of the already multiple but not yet sufficient initiatives taken by different actors on this crucial subject. And, on the other hand, to allow all the forces mobilized on the climate emergency to meet, connect and exchange”.
An ESG strategy
Speaking of initiatives, BMCI shared several during the Forum, which it developed in three main areas, which cover the enormous scope of the 17 United Nations Sustainable Development Goals (SDGs), through an ESG (Environment-Social-Governance) strategy. In the environment, it is the energy transition where the Bank has again recently regained the confidence of the European Bank for Reconstruction and Development (EBRD).
This is how, after a first line of financing of 20 million euros, the latter again allocated it, at the end of last December, a second line of 25 million euros over three years to be placed in decarbonization projects. , in particular renewable energy projects for self-production, but also in resource efficiency, including water efficiency and waste reduction.
Steps ahead in social
In the social sector, BMCI first started by presenting a major healthcare program which, according to Said Jabrane, Retail Banking Business Line Director BMCI, is a success story (see page 11). Then, the Bank unveiled what it is doing in terms of financial inclusion (financial education via the BMCI foundation, support for micro-finance, etc.) and entrepreneurship (support for women and start-ups through agreement signed with Entreprendre au Maroc and the Kluster CFCIM).
For example, Chama Bennani, BMCI Corporate Engagement Manager, notably unveiled the “Woman in business” program, signed in partnership with the EBRD in 2018. A very structuring direct financing that provides support, training and networking to allow project leaders to access purchase orders.
Chama also spoke about the indirect financing that is carried out with the Réseau Entreprendre Maroc, to which the BMCI has lent 1 million DH to be distributed to women entrepreneurs and positive impact companies. It should be noted that the two partners renewed their agreement during the forum.
Concerning the partnership with the Kluster CFCIM, this currently gives rise to support for the start-up Solar Icleaner. Which is in the process of finalizing the prototyping of its solution which is a robot for cleaning solar panels.
Networks of experts available to customers
In Sustainable Finance, in particular, the BNP Paribas Group has put in place very significant resources to train, support and deploy its expertise. This is how NEST (Network of Experts in Sustainable Transition) is a network of experts who can be contacted at any time and some of whom were present at the Rabat Forum (like Amine Belguendouz and Sébastien Soleil).
There is also the Low Carbon Transition Group whose mission is precisely to advise clients, companies and institutions, in their transition to the low carbon economy. Thanks to them, we also support our clients in raising the capital (on the public and private markets, equity or debt) necessary for this profound transformation.
This is also the case in terms of training, BMCI, like the rest of the Group, aims to benefit from this training and to implement it for the benefit of customers.
Aziz Diouf / ECO Inspirations