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RCI Bank

There are plenty of better banks out there...

RCI Banque SA, also known as Mobilize Financial Services, is a French international company that operates as a subsidiary of Renault. The company provides financial services to support the sales of Renault and Nissan vehicles globally.

It provides savings accounts to individuals and then loans that money to consumers buying Renault vehicles as well as Renault car retailers.

While the bank does not directly lend to fossil fuel companies, it operates in the industry that supports the continuation of fossil fuel extraction. The bank does provide loans to purchase electric vehicles but it's not clear if this is done on favourable terms.

The bank has not measured the greenhouse gas impact of its lending.

For its banking needs it uses HSBC, one of the biggest financiers of fossil fuel expansion.

The parent company Renault has a mixed lobbying record. According to LobbyMap, it appears to have advocated to delay the EU's 2035 zero-emissions CO2 target to promote a longer-term role of internal combustion engine (ICE)-powered hybrid vehicles.

Financial institutions in this category have shown a weak commitment to environmental sustainability and transparency.

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.

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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.

Start to Bank Green Today

Banks live and die on their reputations. Mass movements of money to fossil-free competitors puts those reputations at grave risk. By moving your money to a sustainable financial institution, you will:

Send a message to your bank that it must defund fossil fuels

Join a fast-growing movement of consumers standing up for their future

Take a critical climate action with profound effects

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