Bpifrance’s commitment to ambitious targets

Bpifrance is actively working to improve its environmental, social, and economic impact. On the environmental front, the organization aims to reduce Scope 1 and 2 greenhouse gas emissions by 25% by 2025 and 55% by 2030. Since 2020, Bpifrance has invested €7.6 billion in financing the ecological and energy transition. It has taken a committed stance to exclude coal, gas, and oil from their investments to further support sustainable practices.

In terms of social impact, Bpifrance has provided substantial support to over 535,000 micro, small, and medium enterprises (MSMEs) between 2013 and 2023, with more than €44.9 billion in loans. These efforts are aimed at fostering a more inclusive and supportive business environment with a focus on social inclusion.

Bpifrance’s initiatives also aims to support the growth of an inclusive French economy and helped maintain or create 360,000 jobs over a three-year period. The group has developed tailored offers for the most disadvantaged communities through specific loans, such as the « prêt quartiers”, to stimulate local economies and provide financial solutions to meet their unique needs.

Bpifrance’s green bond and social programs : Financial director’s, Jean-Yves Caminade, assessment

To support a more inclusive and sustainable French economy, Bpifrance has launched sustainable refinancing programs that includes the Covid-19 Response Bond and the Green Bond Program. Jean-Yves Caminade, Financial Director of Bpifrance, explains that the Green Bond Program focuses on renewable energy projects and has been updated in 2023 to include green building and GreenTech loans.

Additionally, Bpifrance introduced a Social Financing Program in 2023 to complement the Green Bond Program, emphasizing social development and innovation. Bpifrance aims to support ecological and energy transition, regional competitiveness, job preservation, and disadvantaged

territories through these initiatives. Bpifrance has received several awards (“Social Bond of the Year – Agency” by Environmental Finance or “Largest Financial Corporate Social Bonds” by Climate Bond Initiative) demonstrating a strong market recognition of the solid work Bpifrance has done on ESG refinancing and is a celebration of investor’s enthusiasm toward Bpifrance refinancing tools. At the beginning of 2025, Bpifrance has issued €12.75b of thematic bonds, to feel the gap between its assets and its refinancing bonds.

Extrafinancial notations

MSCI assessed Bpifrance on its ESG behavior for the first time in 2024, the “A” rating has been granted. Additionally, the efforts made by Bpifrance have been internationally recognized as Moody’s has assigned Bpifrance the highest possible ESG rating of « Advanced, » which surpasses industry standards. The « Advanced » rating indicates that Bpifrance is a leader in the sector through its efforts to promote responsible governance and initiatives with positive social and environmental impact. Bpifrance is also ESG rated by Ethifinance (“Advanced”); Sustainable Fitch (2 on 5); Sustainalytics (“Negligible Risk”), positioning the bank as a top ESG actor in France and in Europe.