Guy Janssens, head of investment specialists at BNP Paribas Fortis, discusses with Piyasi Mitra how forward thinking approaches drive the momentum behind sustainable investments.
Guy Janssens, head of the investment specialists at BNP Paribas Fortis, the international bank based in Belgium and a subsidiary of French banking group BNP Paribas, describes himself as “very active” in the fund selection business. A recent winner of an award for “Europe’s most influential fund selector, Benelux (Belgium, the Netherlands, Luxembourg)”, Janssens has 14,000+ followers on Linkedin, and admits to being a bit of an “influencer”.
Having spent over two decades working with more than 70 asset management firms worldwide at BNP Paribas Fortis, he’s come to deeply value the power of networking in sparking innovation. “Our colleagues are active in the fund selection business, and it is important to share ideas and keep abreast of what’s going on.” He recounted how, in 2011, he recognised the potential to create a sustainability-focused portfolio for BNP Fortis, finding solutions within the ESG universe. The portfolio has since grown from €11 million at the time to €15 billion today.
Catalysts for change
Janssens takes pride in his active participation in panels across Europe, where he advocates for sustainable investing in fund selection. Reflecting on one such experience, he shares, “It was a pleasure to participate in the World Urban Forum panel (United Nations) in Cairo in 2024. The financial world can help the necessary sustainable transition of cities.” Using examples from Madrid and Paris, Janssens illustrated how policy tools, urban planning, design, and social innovation are driving progress towards urban sustainability in alignment with the UN’s sustainable development goals. At the Cairo panel, he also shared insights with peers on the transformative impact of ESG investments in shaping sustainable urban centres across the region.
Janssens considers himself “lucky” to work at BNP Paribas Fortis, where he gets to leverage the expertise of colleagues across departments to drive meaningful change. “It is vital to generate good risk-adjusted returns because I am convinced it is a fiduciary duty to deliver strong performance for end clients—and that can be done sustainably,” he adds.
BNP Paribas Fortis, as “a global leader in green bonds”, plays a critical role in advancing sustainable finance, believes Janssens. He remains optimistic about the momentum in energy transition and renewables continuing into 2025, even amidst geopolitical shifts such as Trump’s re-election. In Belgium, the growing impact of extreme weather conditions has led the bank to intensify its focus on renewables, green bonds, and energy transition. “We have corporate social responsibility sector policies in several sectors. For the rest, we continue to engage,” Janssens adds.
Beyond Belgium, BNP Paribas Fortis supports sustainability projects in Kenya and Africa as part of its offsetting measures. The bank’s investments in green buildings across Benelux and France further exemplify what Janssens describes as “sustainability in its DNA.”
The turning point
Janssens is a father of three children, who are in their late twenties now. When they were teenagers, they asked him what he did for a living—a moment that became a turning point in his career as a fund selector. “When I told my children I manage portfolios and make money, they asked, but what are you doing for society? That question became a key motivator for starting my sustainability journey.”
Since 2011, more colleagues have joined the evolution, and the bank has also moved into green bonds and social bonds. Before increasing his focus on sustainability, Janssens was busy exploring alternatives and private markets. Throughout 2007-2009, he was actively involved in the hedge funds industry across Switzerland, London, France and Belgium.
The Benelux region
The Benelux region poses unique challenges and opportunities. According to Janssens: “Striking a balance between performance and impact is achievable in Belgium today, thanks to sustainability mandates introduced in the last ten years.” Challenges often stem from fees or cost structures. “The Netherlands offers plenty of passive solutions and mandates and is strong in the active management department. On the other hand, in Belgium, the focus is on good, value-for-money products.”
In the 2000s, BNP Paribas Fortis introduced in Belgium the concept of open architecture by offering clients both proprietary and external products and services. “At the beginning of my career, I focused on combining internal expertise with external expertise. Increasing external funds means getting the best brains and fostering relations
internationally,” he adds. Continuing this theme of innovation, Janssens also said the bank is always interested in new investment solutions like active ETFs or private assets.
Benchmarking, ratings
Each rating agency focuses on different criteria, and the numbers are relative. At BNP Paribas Fortis, ESG criteria begin with peer group comparison in Benelux, followed by Europe, and then worldwide. Preliminary information is derived through questionnaires, says Janssens, which helps tick certain boxes. “We have a sustainability centre in Paris and receive information from different rating agencies such as Sustainalytics or MSCI. It’s a combination of such data from various sources and our analysis,” adds Janssens.
The BNP Group has its proprietary Clover evaluation methodology to compare the sustainability of financial instruments. It uses an internal scale from 0 to 10 Clovers (10 being the most sustainable) for any asset class. This helps clients consider sustainability alongside risk and return on Investment when making decisions, he explains.
“Set the ball rolling”
Janssens was a speaker at the green bond panel at the Monaco Fund Forum in 2023. The panellists were debating the case for investing in the asset class, and Janssens emphasised how green bonds play a critical role in driving the energy transition and combating climate change.
“Green bonds are the solution as they deliver the same returns as normal bonds,” he said, emphasising the opportunity presented by the higher interest rate environment then. “This is the moment to accelerate. A higher demand will increase both liquidity and the offering.” Stressing the need for collective action across the financial sector, he added: “Next to governments, all asset owners can make a difference. But we must do this together,” he said.
During his address at the event, he called on the sector to take steps toward greater green bond adoption, reiterating the potential of green bonds to support the transition to a more sustainable economy. As Janssens puts it: “Asking doesn’t hurt. Somebody must set the ball rolling, and before you know it, everyone’s doing it. You can’t do this alone – liquidity in international markets is essential.”
As one of the biggest banks, claims of “changing the world” often invite criticism, with some arguing, “You’re not doing enough, or not moving fast enough.” Janssens highlights the need to balance economic realities with sustainability, explaining: “If we exclude all fossil fuels there will be a immediately a huge negative impact on the real economy.
BNP Paribas’ commitment to support the energy transition predates the creation of the Net Zero Banking Alliance, a UN-led group of global banks that commits to aligning lending and investments with net zero emissions by 2050. “We achieved this by, for example, reducing support for fossil fuels, including fully exiting the coal value chain. By the end of 2023, 65% of the energy production we financed was low-carbon, with a target of 90% by 2030,” says Janssens, highlighting the importance of engagement and transition.
