Our carbon offsetting schemes

At Crédit Agricole, we carry out a proactive policy of reducing greenhouse gas emissions caused by our activity (heating, IT equipment, air-conditioning, etc.). But always keen to go further, we are also committed to offsetting our residual emissions .

-Reducing and offsetting our greenhouse gas emissions
-Supporting projects that promote social, environmental and humanitarian values
-Biomass use in Brazil
-The Kenyan REDD+ project

Reducing and offsetting our greenhouse gas emissions

Our aim is to achieve carbon neutrality and reduce the amount of CO2 we emit into the atmosphere in order to combat climate change.

To do so, since 2008 Crédit Agricole has participated in Kyoto Protocol clean development mechanisms by buying carbon certificates.

As a result , since 2008 more than 36,000 tonnes of CO2 have been offset by buying carbon credits that comply with the institutional quality and transparency requirements for carbon offsetting.

To offset its emissions, Credit Agricole buys VERs .
The VERs (Verified Emission Reduction) used by Crédit Agricole in connection with these different offsets are carbon credits issued from projects certified under international standards and follow the methodology defined and approved by the UNFCCC (United Nations Framework Convention United Nations Climate Change) as part of the Kyoto Protocol.

Supporting projects that promote social, environmental and humanitarian values

We have come up with a unique scheme to offset our carbon emissions in a useful and effective way. Our policy for buying CERs is based on three requirements :

- a long-term perspective : we choose VERs with a long-term perspective that offer sustainable, virtuous solutions suited to the local context,

- economic and social benefits : the projects financed by the VERs must create jobs and generate income for local people,

- environmental benefits : the selected projects must help to preserve and restore the local environment.

(+) more about the ADEME

(+) more about the UNFCCC

Biomass use in Brazil

We are financing biomass projects in several regions of Brazil. To avoid large-scale greenhouse gas emissions and local deforestation, we are supporting two medium-sized industries that make ceramic materials, especially tiles. A 7-year support programme enables them to systematically use renewable biomass. The renewable biomass is used to heat ceramics ovens instead of local timber from wild forest areas where there is no environmental management.

2009 PROJECTS
Projet 1 : Irmãos Fredi
Projet 2 : Kitambar

2010 PROJECTS
The carbon offsetting has been renewed for the third consecutive year in 2010. The selection of projects that supported the Crédit Agricole in 2010 was voted on by employees of the entities involved in the environmental reporting in 2009 (Credit Agricole SA, CAAM, Credit Agricole Assurances, Credit Agricole Immobilier, Credit Agricole Leasing & Factoring, Credit Agricole Consumer Finance, Credit Agricole CIB, LCL ...).
This is the Brazilian project "Menegalli", who had the votes in favor of getting more than 40% of the vote.

The VERs used in this operation are carbon credits which have been certified under the double standard VCS (Verified Carbon Standard) and Social Carbon. It was also approved by the company EcoAct, our partner for this project.
(+) more about EcoAct, our partner for Brazil

The Kenyan REDD+ project

Credit Agricole continued clearing of carbon emissions. Resubmitted to the vote of its employees, more than 37% chose the Kasigau Corridor REDD+ project.
For the first time, Credit Agricole opts for a project which adopts the REDD + method (Reduced Emissions from Deforestation and Degradation): a program to reduce emissions from deforestation and forest degradation in developing countries.

The benefits of the project

Fight against deforestation, preserve the forest, protect ecosystems by:

protecting natural carbon sinks;
a three year reforestation project on the slopes of Mount Kasigau by planting 20,000 indigenous hardwood trees;
establishing organic greenhouses and nurseries …

Provide the local population with :

fuelwood from sustainably managed greenhouses;
construction of 18 classrooms ;
a bursary scheme that has already helped dozens of children through secondary and higher education;
new jobs thanks to the construction of an eco factory and agroforestry training…

The VERs used in this operation are carbon credits which have been certified under the double standard VCS (Verified Carbon Standard) and CCB (Climate Community and Biodiversity). It was also approved by the company The CarbonNeutral Company, expert in carbon strategy and our partner for this project.

(+) more about The CarbonNeutral Company, our partner for Kenya

(+) more about the Kenyan REDD + project movie

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