Energy sources and environmental economics
Beyond a societal trend, the economy of the energy sources and environmental economics is a sector booming. Natural resources reduce, the fellow-citizen are called to become more sober in their consumption, companies to develop the energy performances of their products, the energy players to anticipate the energy transition.
For Crédit Agricole, there are three opportunities: improve the energy efficiency of housing, promote the renewable energies and the socially responsible investment.
In Calmont (France), photovoltaic technology reducing CO2
With 52,000 solar panels, the Calmont facility is the largest in the region. The project was managed by Ténergie, a key player in energy transition, working alongside LCL and Crédit Agricole Leasing & Factoring. It is the largest photovoltaic park in the region of Haute-Garonne (Solar Med III).
Crédit Agricole Leasing & Factoring recycles mobile phones
Crédit Agricole Leasing & Factoring wants to reduce its impact on the environment, and has made this an objective under the FReD programme. As one step, CAL&F began collecting and recycling mobile phones used in the business.
Recycling has since been extended to personal mobiles. So far, 760 personal and business phones have been collected and recycled since April 2011.
Beyond the environmental dimension (savings of CO2 emissions, energy, hazardous waste and more), this move has a solidarity component: it has generated 114 hours of unskilled work. The telephones have been turned over to a vocational rehabilitation facility, which provides work for disabled people. Serviceable telephones are sold. For those that will no longer function, materials are extracted and recycled and the toxic elements processed.
Solidarity goes even further by distributing recycling profits: €3,600 has been turned over to the Sylvain organisation created by Crédit Agricole employees to support persons with neurologically-based disabilities and their families.
Solidarity Finance Week: CPR Reflex Solidaire obtains the Finansol Label
CPR Reflex Solidaire has received the Finansol Label, issued by an independent committee of civil society representatives. The Finansol* label is awarded based on criteria of solidarity and transparency. It guarantees financing for socially and environmentally useful activities and verifies the financial intermediary’s commitment to provide reliable information on the labelled investment and the activities financed.
“CPR Reflex Solidaire is the product of close cooperation between the investment and research teams at CPR AM and the team of sustainability analysts at Amundi Expertise ISR. In obtaining the Finansol solidarity finance label, we display our commitment to disclosing transparent, reliable information to our customers, with high-quality investment solutions,” says Arnaud Faller, Chief Investment Officer at CPR AM.
Fundamentally, CPR Reflex Solidaire aims to go beyond recognising the importance of sustainable development by investing in vehicles that integrate environmental, social and governance criteria: it further intends to place around 8% of its investments in socially responsible companies, thus financing the most socially useful projects for the long term.
*Finansol is a professional association founded in 1995 by solidarity finance organisations and banks committed to taking action to promote solidarity.
Finansol brings together solidarity finance organisations and banks that offer solidarity investment vehicles. Its mission is to :
- develop solidarity in savings and finance;
- raise the profile of the solidarity finance sector with government bodies;
- develop solidarity savings practices for better citizenship in our society.
Crédit Agricole CIB goes further in developing responsible finance
Crédit Agricole CIB is determined to assist major clients with projects having a major social or environmental dimension. In early 2010 it set up a Sustainable Banking team specialised in advice and capital-raising in the sphere of responsible finance. Since then, these issues have become increasingly relevant and legitimate.
In the past year, for example, Crédit Agricole CIB has assisted Air Liquide and several large French regional authorities to structure socially responsible bonds, advised Lafarge on setting up a housing microfinance programme, and assisted the French Development Agency to insure agricultural risks in poor countries. The Sustainable Banking team has also been instrumental in setting up the “Livelihoods” fund, co-financed by the Crédit Agricole Group and Danone among others. The fund’s purpose is to improve living conditions for rural populations in developing countries through carbon finance initiatives.
FReD will help Crédit Agricole CIB to go even further. The bank aims to establish business relations with at least 125 major clients to address responsible finance issues by the end of 2013. At 20 October 2012, it had already dialogued with more than 80 clients on these issues.