BNP Paribas

BNP Paribas welcomes the opportunity to respond to the Commissions call for evidence for the review of the EU Taxonomy Climate Delegated Act. We invite the Commission to address Taxonomy implementation challenges in the following areas.

BNP Paribas Leasing Solutions welcomes the opportunity to respond to the European Commissions call for evidence for the review of the EU Taxonomy Environmental Delegated Act. We invite the Commission to address the following implementation challenges for leasing companies, which feature particularly in DNSH for activities 5.1 Repair, refurbishment and remanufacturing and 5.3 Product-as-a-service and other circular…

Arval is a 100% owned affiliate of BNPP & is specialized in full-service vehicle leasing & new mobility solutions, leasing nearly 1,8 million vehicles to its clients (mainly corporates) at the end of Dec 2024. Arval supports the decarbonization of the corporate fleets of its clients by, amongst others, leasing battery electric vehicles (BEVs) to them.

BNP Paribas Asset Management welcomes the European Commissions call for evidence on the revision of the technical screening criteria under the EU Taxonomy Climate and Environmental Delegated Acts. BNP Paribas Asset Management (BNPP AM) is the asset manager of BNP Paribas, a leading banking group in Europe with international reach.

SFDR is a major regulation for BNP Paribas Asset Management with over 90% of assets in our open-ended EU funds classified as Article 8 or 9. While SFDR has clearly contributed to reallocation of capital towards a more sustainable economy, the current framework has shortcomings that need to be addressed.

SFDR is a fundamental tool to help investors reallocate capital towards a more sustainable economy; however the current framework has shortcomings - notably the complexity of disclosures, the classification system and cross-regulation alignment, including with revised versions of the CSRD, ESRS and EU Taxonomy in the Omnibus package.

Despite the EUs ambition to create a single market, startups and scaleups still face a fragmented regulatory and business environment. Each member state interprets and implements EU recommendations differently, resulting in 27 variations of company law, tax rules, and investment frameworks.

BNP Paribas welcomes the Communication of the European Commission dated 17 July 2026 as a major step forward, and the opportunity offered to share feedback. The Commission rightfully recognises the banking sector as a key driver of a strong and growing EU economy, both as a primary source of financing and as a fundamental enabler of the Savings and Investment Union.

We fully support the Commissions ambition to boost retail investor participation in capital markets to finance EU economic development, the digital and sustainable transitions and the strengthening of EU sovereignty. However, we consider that the proposal only partially fulfils these objectives and may even have detrimental consequences.

BNP Paribas is a top-tier European and international banking establishment supporting all its customers individuals, associations, entrepreneurs, SMEs and institutions in the success of their projects through its financing, investment, savings and protection solutions. We welcome the European Commissions directive to simplify and digitalise withholding tax processes within the European Union.

We welcome the Commissions June 17th holistic initiative for revitalizing the EU securitisation market and its clear willingness to act on several fronts to achieve the intended result; in particular, the determination to amend the LCR Delegated Regulation as regards the eligibility of securitisations in the liquidity buffer of banks is an essential move in the right direction.