The Regional Banks network has marketed the zero-rate eco-loan (Eco-PTZ) since its launch by the authorities in April 2009. This has enabled Crédit Agricole to build a leading position in France (a 27% market share in the first nine months of 2011, according to the Société de Gestion du Fonds de Garantie de l’Accession Sociale à la propriété).
In addition, since 2007 the Regional Banks have offered energy-saving loans, with preferential terms for energy conservation work carried out in older homes.
- Since the creation of ECO-PTZ, 59,000 loans have been provided by Credit Agricole for over €950 million.
- Since its creation in 2011, the Regional Banks granted 115,000 energy-saving loans for over €1.4 billion.
Cariparma Crédit Agricole Group designed a catalogue of products intended to encourage the use of alternative energy, such as Energicamente Gran Prestito, loans to purchase solar panels.
In property & casualty insurance, products in the personal and small business ranges take into account climate constraints on various levels through insurance cover protecting policyholders and their property from storms, natural disasters, or climatic events such as hail and frost. Crédit Agricole Assurances introduced insurance cover for renewable energy facilities (solar panels, wind turbines) as part of its comprehensive home insurance policies and without any increase in premiums. In 2011, Crédit Agricole Assurances launched forest insurance to manage forest risks: fire, storms, natural disasters and civil liability. Finally, when taking out an eco-loan, customers are offered comprehensive home insurance with a 25% reduction in the first year.
SRI AT AMUNDI
Amundi's SRI funds include every asset class and category: equity funds, bond funds and monetary funds. Amundi is also developing a range of so-called “socially committed” funds that includes ethical, philanthropic, social entrepreneurship and development aid funds.
Amundi puts the stringent principles of SRI into practice: In consideration of economic, social and governance-related criteria, Amundi gives every issuer a grade, that could rules out issuers with questionable ESG practices, so as to avoid both financial and reputational risk for the investor.
Amundi maintains continued efforts in transparency and accreditation. The 31 funds offered by the Amundi Group, covering all the SRI asset classes and categories (Best-in-Class, ethical, philanthropic, social entrepreneurship and development aid) received Novethic certification in 2011.
Amundi also received CIES accreditation for five new SRI lines in 2011: three among the offerings of the Crédit Agricole Regional Banks, LCL and Société Générale, which are intended to raise the visibility of SRI and CIES with small and medium enterprises, and two lines designed for entreprises.
At 31 December 2011, the Amundi Group managed €55 billion in assets in socially responsible investment.
FINANCING ENVIRONMENTALLY-FRIENDLY INVESTMENTS
Crédit Agricole S.A. also provides financing for environmentally friendly investments, mainly through its French and international subsidiaries in areas such as lease financing, corporate finance and project finance.
Financing renewable energy is an essential component of Crédit Agricole CIB's strategy, making it one of the leading sources of financing in that sector.
Credit Agricole CIB in 2011
- 15 wind farms funded representing some 10,000 megawatts (MW)
- 21 solar power plants funded, having 850 MW of installed capacity
- This financing has represented an increasing share of electrical generation projects, reaching 50% of such transactions
Credit Agricole Leasing & Factoring, through its specialised subsidiary Unifergie, finances energy saving and environmental protection projects that contribute to sustainable development (biomass, biofuel and wind farms). It also finances waste recycling and water treatment plant projects.
Acting at the heart of the regions in which it operates, Crédit Agricole Leasing & Factoring also contributes land use planning by financing facilities for local authorities through its subsidiary Fip, such as hospitals, retirement homes and schools.
CAL&F in 2011
- Financing €327 million of renewable energy projects in France
- Cumulative power financed totaled 1,486 MW, enough electricity to supply 690 ,000 French homes
- 20% of market share in renewable energy (excluding hydro)
- Financing of one wind farm in every five
Because the Group cares about its own environmental record, it tries to support companies that research and develop ways to limit the negative environmental impact of their operations. Accordingly, two venture funds solely focused on renewable energy were launched in 2006 and 2011. The strategy of these funds—Capenergie I with €109 million now wholly invested since 2010 and Capenergie II with a target size of €200 million—is to invest not only in the capital of developers, specialized promoters, equipment manufacturers and operators but also in energy project finance schemes. Capenergie II has at this point invested €50 million in seven deals.
THE EQUATOR PRINCIPLES
These principles are an essential methodological guide to the recognition and prevention of social and environmental impacts in the project finance process. They are used to assess the risks associated with environmental and social impacts generated for projects valued at more than $10 million. Crédit Agricole CIB belongs to the group of banks which launched the Equator Principles in June 2003 and has actively worked on promoting these principles, which in the space of a few years have become the market standard for project finance. Today Crédit Agricole CIB is the only French bank on the Equator Principles steering Committee. Crédit Agricole CIB is also working to see that the principles are widely implemented.
In 2010, Credit Agricole Group published its first sector policy on armaments.
In 2012, Credit Agricole Group will publish its sector policies for the energy sector (coal-fired power, nuclear power, hydro-electric dams, oil, gas and shale gas).