BNP Paribas
France's largest bank and Europe's biggest lender to companies linked to Israeli settlements, with $22.19 billion in loans and underwriting to settlement-supporting firms. BNP Paribas participated in a $2 billion Israeli government bond issuance in March 2024 to finance war spending, while marketing itself as a sustainable finance leader with 'Green Bond' credentials.
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- Support Legal ActionJurdi (Juristes pour le respect du droit international) filed Duty of Vigilance lawsuit
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- Strategic AnalysisIn-depth analysis and engagement strategy
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Active litigation under France's Duty of Vigilance Law (Loi de Vigilance). Jurdi filed suit in June 2025 accusing BNP Paribas of failing to disclose activities supporting Israel in its vigilance plan, including $8 billion bond guarantee and $83 million loan to Elbit Systems. Court proceedings ongoing at Paris Judicial Tribunal.
Documented hypocrisy between 'Green Bond' leadership and defence sector financing. Named by Don't Buy Into Occupation as Europe's largest lender to settlement-supporting companies. Environmental Finance awards contrast sharply with €24 billion defence sector deployment by end of 2024.
UN July 2025 report listed BNP Paribas among banks enabling Israel's war financing through bond underwriting. Exposure to settlement-linked companies creates regulatory risk under EU and UN business and human rights frameworks.
Subject to 'Banque Complice' campaign by AFPS, Attac France, and BDS France targeting branches and social media. Formal notice sent December 2024 demanding vigilance plan amendments, refused March 2025.
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Comparison Legend
Strategic Analysis
In-depth assessment of the company's position, vulnerabilities, and recommended approaches for effective engagement.
High severity, high vulnerability — campaigns with the best chance of making an impact
Learn about our methodology — companies are categorised based on severity (harm potential) vs strategic vulnerability (campaign leverage).
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BNP Paribas represents a high-value financial sector target due to its position as Europe's largest lender to companies linked to Israeli settlements and its role in financing Israeli government war bonds. The stark contradiction between the bank's 'Green Bond' leadership positioning and its €24 billion defence sector deployment creates a documented hypocrisy gap that is legally actionable under France's Duty of Vigilance Law.
Key Leverage Points
- Duty of Vigilance Litigation: Active lawsuit filed June 2025 by Jurdi at Paris Judicial Tribunal. French law requires large companies to identify and prevent human rights violations. Court proceedings create ongoing pressure and reputational exposure.
- Green Bond Hypocrisy: BNP Paribas markets itself as sustainable finance leader (Environmental Finance awards, €200bn low-carbon target) while deploying €24bn to defence sector and underwriting Israeli war bonds. This contradiction provides clear messaging for ESG-focused investors.
- Settlement Financing Leadership: Don't Buy Into Occupation identifies BNP Paribas as Europe's top creditor to settlement companies ($22.19bn), almost 50% more than Deutsche Bank. This documented position makes BNP Paribas the logical primary target for European financial sector campaigns.
- Institutional Investor Pressure: European pension funds and asset managers with ESG mandates face increasing scrutiny over holdings in banks financing Israel's military operations, which the ICJ found face a 'plausible' genocide case. UN July 2025 report naming BNP Paribas provides authoritative basis for divestment campaigns.
Evidence Summary
The Don't Buy Into Occupation coalition documents BNP Paribas providing $22.19 billion in loans and underwriting to 27 companies linked to Israeli settlements, including Bank Leumi, Mizrahi Tefahot Bank, Elbit Systems, Caterpillar, and Carrefour. BankTrack research shows BNP Paribas as the largest European finance provider to arms companies selling weapons to Israel, with documented $83 million in loans to Elbit Systems between 2018-2021. In March 2024, BNP Paribas participated in a $2 billion Israeli government bond issuance to cover war-related deficit. The July 2025 UN report explicitly named BNP Paribas among banks instrumental in enabling Israel's assault on Gaza through bond underwriting.
Engagement Strategy
Support the ongoing French Duty of Vigilance litigation by amplifying Jurdi's legal action and providing evidence of BNP Paribas' Israeli activities. Target institutional investors with ESG mandates using the 'Green Bond hypocrisy' framing - contrast the bank's sustainable finance awards with its position as Europe's largest settlement financier. Coordinate with the AFPS/Attac/BDS France 'Banque Complice' campaign for amplified reach in France. Engage corporate banking clients regarding reputational risks of association with a bank under Vigilance Law litigation. Frame messaging around the documented contradiction between claimed values and verified financing activities.
Evidence & Sources
Verified sources including NGO reports, regulatory filings, and primary documents. Use these to substantiate your correspondence.
UN report lists BNP Paribas among world's largest banks enabling Israel to contain interest rate premiums through Treasury bonds playing critical role in funding ongoing war on Gaza.
Open sourceJuristes pour le respect du droit international filed suit at Paris Judicial Tribunal accusing BNP Paribas of failing to disclose Israeli activities in vigilance plan, including $8 billion bond guarantee and financing of Elbit Systems and Delek Group.
Open sourceDocuments BNP Paribas as largest European finance provider to companies selling weapons to Israel, including $38 million to Elbit Systems. Total sector financing: €36.1 billion in loans/underwriting, €26 billion in shares/bonds.
Open sourceCorporate framework positioning BNP Paribas as sustainable finance leader with €200 billion low-carbon transition target by 2025. Creates documented hypocrisy gap with €24 billion defence sector deployment.
Open sourceIdentifies seven banks instrumental in underwriting Israeli 'war bonds' including BNP Paribas. Goldman Sachs largest at $7 billion, with BNP Paribas participating in March 2024 $2 billion issuance covering war deficit.
Open sourceIdentifies BNP Paribas as Europe's top creditor with $22.19 billion in loans and underwriting to 27 companies linked to Israeli settlements. First report showed $17.30 billion, almost 50% more than nearest rival Deutsche Bank.
Open sourceFIDH report exposes links between five French banks and insurance companies and illegal Israeli settlements. BNP Paribas identified as having largest exposure among French financial institutions.
Open sourceUpdates & Milestones
- UN report names BNP Paribas
UN report lists BNP Paribas among banks enabling Israel's war financing through bond underwriting.
- Duty of Vigilance lawsuit filed
Jurdi files lawsuit at Paris Judicial Tribunal accusing BNP Paribas of vigilance law violations. Preliminary appeal also filed against French State for genocide convention failures.
- Formal notice sent
Jurdi sends formal notice to BNP Paribas demanding amendments to vigilance plan to disclose Israeli activities. Bank refuses in March 2025.
- ICC arrest warrants issued
International Criminal Court issues arrest warrants for Israeli officials citing crimes against humanity including extermination and starvation as method of warfare.
- 'Banque Complice' campaign launch
AFPS, Attac France, and BDS France launch coordinated campaign targeting BNP Paribas as largest French investor in settlement companies. Tweetstorm action on September 25.
- Israeli war bond issuance
BNP Paribas participates in $2 billion Israeli government bond issuance to cover war-related deficit, described as 'record fundraising effort'.
- ICJ plausible genocide ruling
International Court of Justice finds 'plausible' genocide case against Israel, increasing legal exposure for financial enablers under international law.
- Gaza operations begin
Israel launches military operations in Gaza. BNP Paribas' defence and settlement investments come under renewed scrutiny.
- Elbit Systems financing
BNP Paribas provided $83 million loan to Elbit Systems, Israel's largest defence contractor. Additional $38 million identified by BankTrack.