(Bloomberg) -- BNP Paribas SA plans to expand its financing restrictions on high-carbon assets and will add aviation, shipping and commercial real estate to the list of sectors now facing limits.

The bank is “determined to align its credit portfolio with net zero trajectories and to support the economy in its transition to low-carbon,” it said in a statement on Wednesday.

BNP, which last year became the subject of a climate lawsuit, has since won praise from environmental activists for moving faster than its global peers in cracking down on fossil-fuel finance. Last week, the bank said it was no longer participating in conventional bond sales for the oil and gas sectors. Meanwhile, BNP has emerged as the world’s biggest underwriter of green bonds.

In Wednesday’s statement, BNP said it will target an 18% reduction in its portfolio emissions intensity for air transport compared with the 2022 baseline. For maritime transport, it’s seeking a reduction of at least 23%, while the bank now aims for a decline of at least 31% for commercial property compared with 2022.

“BNP Paribas is committed to significantly reducing the greenhouse gas emission intensity of its financing to sectors with the highest emissions,” it said. 

BNP also said it’s targeting a 70% reduction by 2030 in its financed emissions for the oil and gas sectors, which corresponds to a reduction to 8.2 million tons of CO2 by 2030 from 27.3 million at the end of September 2022.

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