BNP Paribas goes carbon-friendly with new platform

The bank's ClimateSeed platform will act as a centralised platform for asset managers looking to invest in companies with voluntary carbon offsetting projects.

By Joe Parsons

BNP Paribas Securities Services will launch a new platform bringing together investors and organisations committed to offsetting carbon emissions, in its latest environmentally-minded project. 

The French bank will launch ClimateSeed, which will act as a centralised platform where investors and companies looking to invest in voluntary carbon offsetting projects will be able to connect easily to other projects looking for funding.

“To this day, there is no centralised, transparent, and efficient platform to buy and sell carbon credits of voluntary offsetting projects.  As a result, investors and project carriers struggle to match their needs and many carbon offset projects remain unfunded,” said Patrick Colle, CEO, BNP Paribas Securities Services. 

Participants will be able to buy and sell voluntary carbon credits and manage their investments directly through the platform, which will be underpinned by BNP Paribas’s post-trade infrastructure.

“We believe that the creation of this centralised platform, underpinned by a solid technology infrastructure, will spur the development of the voluntary offsetting of carbon emissions,” added Colle. 

The ClimateSeed platform will reinvest 100% of its profits in its development and initiatives designed to enhance its impact. 

BNP Paribas has become a leading figure in evolving environment, social and corporate governance (ESG) investing. Earlier this year it predicted ESG strategies adopted by asset managers will double over the next two years, and said custodians will take on a key data and reporting role for clients.