BNP Paribas Foundation: A Story of Loyalty, Daring and Commitment

“BNP Paribas Foundation:A Story of Loyalty, Daring and Commitment” ATM stories, « Always Telling More, » by BNP Paribas
The podcast that goes behind the scenes, to bring you some little-known stories about the bank. These moments that have shaped the character and culture of a 200-year-old group. To be enjoyed anywhere and at any time!

This year, the BNP Paribas Foundation is celebrating its 40th anniversary. With 4,200 projects to its credit and more than 2 million beneficiaries, it is a powerful lever that has accompanied the evolution of our society in various fields such as culture, solidarity, or the environment. Comme DAB reflects on the origins and history of this French-style philanthropy, heir to the patronage traditions of its founding banks.

Despite its ancient connotations, the word “philanthropy” only really became of common use in the 19th century. Up to that time, charitable works were individual initiatives by industrial captains or financiers. An example is Louis Raphaël Bischoffsheim, one of the founders of Paribas, who financed scientific and medical studies as well as the construction of the Théâtre de l’Athénée in Paris.

In the public mind, sponsoring is a matter for public authorities, and it remained so until the post-war period with the emergence of the welfare state. However, the idea of corporate patronage gradually takes ground in France. But without a legal framework or tax incentives, few companies ventured into this filed. This is why, in 1984, both BNP and Paribas found themselves pioneers in an adventure that struggled to take off.

In the absence of a clearly defined framework, each of the two banks chose its most suited mode of action, as Anne de Lacretelle, in charge of patronage at BNP, explained in 2000: “For BNP, we focus on long-lasting alliances with institutions, high-profile events, complemented by promotional actions. Paribas, on the other hand, chose to support individuals at a key moment in their careers.”

Another contrast is that while BNP acted directly without any specific structure, Paribas chose to create a foundation under the aegis of the Fondation de France, thus becoming one of the oldest corporate patronage foundations in France.

And yet, even though the two institutions acted according to distinct operating modes, or expressed themselves in their own fields, such as medical research for Paribas, they both adopted highly complementary approaches. This is particularly true in the field of art. While BNP supported the creation of the Maison de la Danse in Lyon, Paribas supported the international career of choreographer Angelin Preljocaj. And while the former, through its “BNP for Art” program, financed the restoration of major works of art, the latter acted as a publisher for a large number of museums, enabling them to own their own exhibition catalogs.

Their actions even became intimately intertwined in another field, that of solidarity, when both banks, a few years apart, chose to support the Association for the Right to Economic Initiative (ADIE). Inspired by the experience of the Grameen Bank, founded by Muhammad Yunus in Bangladesh, ADIE is an association that enables people who are too fragile to borrow money through the conventional circuit, to finance small business start-ups through the principle of microcredit. Its original founder, Maria Nowak, highlighted in 2015 the unique nature of this support, that of a sponsoring backed by a banking:

“The Foundation helped us a lot, but BNP Paribas also helped us too. It contributed to the financing of support and helped us set up new agencies in neighborhoods where the situation was extremely tense and difficult.”

In 2000, BNP and Paribas merged, and the BNP Paribas Foundation was created with the aim of bringing together the philanthropic policies of the two banks. Jean-Jacques Goron, the Managing Director of the Foundation in 2020, looks back at the background to this merger:

“What is interesting is that there was a culture of philanthropy on both sides, but with different structures. The convergence point was the philanthropic commitment of both companies to fields that were more or less the same.”

A harmonious marriage, therefore, under the dual banner of loyalty and boldness. Loyalty first and foremost, because the management teams of the new Foundation knew that stability of commitment is an invaluable support in a rapidly changing world. François Debiesse, Chairman of the Foundation from 1995 to 2008, sums up this long-term approach:

“The notion of duration was taken into account from the outset. When we started thinking about philanthropy, we became rapidly convinced that the commitment of the Foundation was to be carried out over a sufficient period of time if we wanted to have an impact on the work of the association.”

The new BNP Paribas Foundation has therefore chosen to extend and develop the actions already undertaken, in line with the patronage strategies of the two founding banks. In the case of ADIE or AFEV, a student association fighting against educational and social inequalities, we are even talking about a relationship of nearly 30 years! Thanks to this loyalty, the BNP Paribas Foundation will be able to involve the two associations in a virtuous circle, moving from mere support to partnership. In 2006, AFEV and ADIE became the pillars of a large-scale project to promote school inclusion and social and professional integration, the “Banlieues” project. This ambitious project was then followed by other solidarity programs, including Odyssée Jeune in 2009 or Dream Up in 2015, which were more specifically aimed at young people.

Boldness followed, as the new Foundation makes it a point of honor to perpetuate its choice to focus on philanthropic works in fields little invested by other patrons. As Isabelle Giordano, the current Managing Director of the BNP Paribas Foundation, summed up in a recent article in CareNews:

“The audacity to go where no one else goes. I follow in the footsteps of my predecessors who went into baroque singing, circus arts, or theater with Olivier Py in his early days. Our aim has always been to move into under-supported sectors such as jazz, contemporary dance, the new circus arts, and, since 2021-2022, hip hop, a discipline that contributes to equal opportunities and support for young people.”

Towards 2010, it became clear that the Foundation needed to redefine some of its priorities, in order to adapt its action to the evolution of society. This led to a shift towards a new focus on science. After supporting medical research – notably at the Necker Hospital with the creation of a DNA bank, or at the Glaucoma Institute of Saint-Joseph Hospital – the Foundation decided to refocus its efforts on the environment, an emerging issue deemed more crucial, and which was receiving very little patronage. In the 2010s, the Foundation thus became a pioneer in this field, creating the Climate and Biodiversity program to provide support to 35 teams of researchers and raise awareness of environmental issues among nearly a million people.

At the head of this superstructure, Antoine Sire aims to elevate these issues to a higher level across the entire group. Patronage thus becomes the spearhead of a global policy.

In 2017, in response to the obvious prominence of sustainable development issues, the BNP Paribas Group chose to create a Commitment Department to oversee both the BNP Paribas Foundation and CSR, the division that handles the Group’s environmental and societal concerns. At the head of this superstructure, Antoine Sire intends to take these issues to a higher level throughout the Group. Corporate philanthropy thus became the armed wing of a global policy now recognized worldwide for its commitment and relevance.

Today, the BNP Paribas Foundation is one of the largest Foundations in France. However, as Michel Pébereau, the Chairman of the BNP Paribas Foundation points out, its uniqueness lies more in the quality of its commitment than in the number of projects or the volume of funds deployed:

“We are indeed a Foundation which considers that money is not the essential element of its action. The essential element of its action is to support a person, a student, an artist.”

This support can take many forms, as evidenced in a letter dated 1995 and written by Martine Tridde Mazloum, then Managing Director of the Paribas Foundation:

“In a few hours, the curtain will rise on the Royal Opera of Versailles. I am as nervous as if I had to sing Dido’s grand aria tonight. But all is well… Ministers, Ambassadors, and Presidents will be there. Yesterday I had to find a dentist for the first Shepherd, and this morning an ENT specialist for Aeneas, who felt some throat irritation upon waking.”