The launch into Australia and New Zealand of BNP Paribas’ Securities Services business’ ESG investment compliance monitoring service will support local clients to meet their ESG commitments and investment objectives and avoid potential compliance breaches.
For the clients of Securities Services at BNP Paribas, the service provides ESG investment compliance screening capabilities for local asset managers and owners – allowing them to incorporate customisable and flexible ESG criteria into their portfolio monitoring.
The service, which has already been successfully deployed in Europe, includes a wide range of ESG criteria and delivers external assurance that funds are meeting their ESG commitments through automated post-trade assessment.
By leveraging a wide range of data feeds from external and internal sources, the ESG service screens portfolios against customised and flexible criteria adapted to each client’s ESG framework. The selection can be made from a range of options, such as the inclusion or exclusion of specific activities, ESG ratings and benchmarks, carbon intensity compared to a benchmark and adherence to global standards.
This service is becoming available at a time when market developments are progressing rapidly. The Australian Government’s Treasury has recently released a Sustainable Finance Roadmap[1]. New Zealand also has a 2030 roadmap, including plans for a sustainable finance taxonomy[2].
“Ensuring portfolios adhere to their ESG guidelines is critical to help avoid compliance oversights and this is where BNP Paribas’ ESG monitoring solution can assist,” said Daniel Cheever, Head of Australia & New Zealand, Securities Services at BNP Paribas.
The Securities Services business of BNP Paribas performs investment compliance in 19 locations for more than EUR 2.7 trillion of client assets and across more than 10,000 funds and mandates for its clients, which include insurance companies, pension funds, asset manager and asset owners[3]. The ESG monitoring service will continue to evolve and develop while being rolled out across other locations in EMEA and APAC. “This global product provides an opportunity for our clients to better monitor their portfolios amongst the evolving landscape of sustainable finance. We are delighted to be launching this enhanced ESG monitoring service into Australia and New Zealand for the benefit of our local clients,” said Daniel Cheever.
[1] Australian Government: The Treasury, Sustainable Finance Roadmap, June 2024.
[2] Centre for Sustainable Finance
[3] As at 31 December 2023: BNP Paribas’ Securities Services business’ Investment Compliance Monitoring pitchbook.
[4] As at 30 June 2024: Securities Services in numbers (cib.bnpparibas)
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Press Contacts
BNP Paribas
Christina Efthymiades AM, Head of Brand and Communications, Australia & New Zealand
christina.efthymiades@au.bnpparibas.com
+61 426 592 869
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About Securities Services at BNP Paribas (securities.cib.bnpparibas)
BNP Paribas’s Securities Services business is a leading global custodian providing multi-asset post-trade and asset servicing solutions to buy-side and sell-side market participants, corporates and issuers. With a global reach covering 90+ markets, its custody network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide. As a pillar of BNP Paribas’ diversified banking model, Securities Services provides asset servicing solutions that are closely integrated with the first-class services of the Group’s other business lines, in particular those of Global Banking and Global Markets. As of 30 June 2024, Securities Services had USD 13.9 trillion in assets under custody, USD 2.8 trillion in assets under administration and 9,155 funds administered[4].
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Services described in this document, if offered in Australia, are offered through BNP Paribas acting through its Australia Branch ABN 23 000 000 117 (“BNP Paribas”) and/or BNP Paribas Fund Services Australasia Pty Ltd ABN 71 002 655 674 (“BPFSA”). BNP Paribas is licensed in Australia as a foreign authorised deposit-taking institution by the Australian Prudential Regulation Authority and delivers financial services to clients under its Australian Securities & Investments Commission Australian Financial Services License (AFSL), No. 238043. BPFSA is an Australian-incorporated company which is a wholly owned subsidiary of BNP Paribas and delivers financial services to clients under its AFSL No. 241080. The Information is directed at wholesale clients only and is not intended for retail clients (as both terms are defined by the Corporations Act 2001, sections 761G and 761GA).
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Services described in this document, if offered in Singapore, are offered through BNP Paribas acting through its Singapore Branch, which is licensed by the Monetary Authority of Singapore under the Banking Act 1970 as a qualifying full bank. It is also a clearing member and depository agent of The Central Depository (Pte) Limited (CDP), a trading member of Singapore Exchange Derivatives Trading Limited (SGX-DT), and a clearing member of Singapore Exchange Derivatives Clearing Limited (SGX-DC). Singapore dollar deposits of non-bank depositors placed with the Singapore branch are insured up to $75k by the Singapore Deposit Insurance Corporation. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
Services described in this document, if offered in New Zealand, are offered through BNP Paribas Fund Services Australasia Pty Ltd (“BPFSA”) acting through its New Zealand Branch, NZCO registration number 1010736. BPFSA is an Australian-incorporated company which is a wholly owned subsidiary of BNPP. BPFSA is registered under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. BPFSA is not licensed by a New Zealand regulator to provide financial services and BPFSA’s registration on the New Zealand register of financial service providers does not mean that BPFSA is subject to active regulation or oversight by a New Zealand regulator. NO BNP PARIBAS ENTITY IS A REGISTERED BANK IN NEW ZEALAND. The Information is intended for wholesale clients only, as such term is defined in the Financial Markets Conduct Act 2013.
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