Banco Comercial Português SA
Your bank falls short in climate responsibility.
BCP still finances fossil fuels (about 0.9% of its lending portfolio). It also finances renewable energy, but the ratio of renewable to fossil-fuel lending remains very low for 2025. It has some "green" products for individuals.
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We would like to see BCP put in place a robust science-based exclusion policy (stating it will not lend to new fossil fuel projects), we'd like it to set more ambitious climate targets, and ramp up lending to renewable energy projects.
If they engage in energy financing, they are likely to lend far more to fossil fuels than renewable sources. They may have limited or no effective policies to improve their climate impact and may lack meaningful targets for reducing the emissions they are responsible for.
While they might show some engagement in sustainable practices or offer certain green lending products, these efforts are insufficiently developed or prominently displayed to make a significant impact.
Your bank may be ignoring the Paris Agreement.
The Paris Agreement set the goal to stay under 1.5°C of warming for very good reasons. According to the Intergovernmental Panel on Climate Change, an increase of just a couple of degrees more could lead to "substantial species extinction, large risks to global and regional food security", and an inability to work outside — or even live — in some areas of the world. Our world will become unrecognizable as ocean dead zones, floods, and extreme weather fuel social and economic disruption.
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