COP21: 39 French companies pledge EUR 45 bn to renewable energy till 2020

Just a few days before the opening of the COP21 climate conference in Paris, 39 French companies announced on Thursday a joint pledge to invest some EUR 45 billion (USD 48 bn) in renewable energy and low-carbon technologies over the next five years.

The group of businesses, which includes most of the well known names in the blue-chip CAC 40 index, has a combined revenue of about EUR 1.2 trillion and over 4.4 million employees around the world.

Accor, BNP Paribas, Socoete Generale, EDF, Total, Saint-Gobain, Orange and Michelin are some of the companies signing the pledge for contribution in the fight against climate change.

"It is a commitment to a low-carbon economy, and these are all new funds that will be invested," the CEO of Total, Patrick Pouyanne said at a joint news conference.

" Total intends to invest more than EUR 4 billion between 2016 and 2020, particularly in solar, but also in bio energy" Pouyanne added.

The companies said they also plan to provide bank and bond financing of at least EUR 80 billion for other climate change related projects.
(EUR 1 = USD 1.058)

Choose your newsletter by Renewables Now. Join for free!