Although the policy change is a break from the past, when BNP had pumped cash into gas projects, the group did not rule out continuing to finance firms doing such work as long as its money does not go directly to fossil development.
The bank also made official Thursday that it is "no longer providing any financing dedicated to the development of new oil fields" -- although it said in January that it has made no such investments since 2016.
Similarly to gas, BNP will not withhold money from firms opening up new oil fields as long as its cash is not directly used for that purpose.
But as part of a longer-term plan stretching to 2030, the bank is "phasing out financing to non-diversified oil exploration and production" companies.
The steps contribute to BNP's wider aim to reduce by 80 percent its investments in oil exploration and production by the end of the decade.
With an eye on 2050 net zero targets from the International Energy Agency, the bank announced new objectives for its investment in steel, aluminium and cement production.
BNP aims to reduce so-called intensity of emissions -- the amount of carbon dioxide emitted to create each tonne of the final product -- by 25 percent for steel, 10 percent for aluminium and 24 percent for cement by 2030, compared with 2022 levels, or 2021 for cement.
The bank said it was "on track" for similar reductions announced last year for oil and gas, power generation and the car industry.
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