FReD an original CSR approach
Acting together as a committed and responsible Group
Pursuing a dynamic and innovative Corporate Social Responsibility (CSR) policy is a core element of “Commitment 2014”, the Group’s Medium Term Plan. To put this commitment into grassroots practice, Crédit Agricole S.A. has adopted an original, decentralised approach called FReD.
FReD is an overarching initiative for continually promoting and improving the Group’s CSR activities. It aims to disseminate CSR practices throughout the Group by committing all entities to it, while leaving them free to choose their own priorities. The objective is to involve the entities, stimulate initiatives, and build up the Group’s sustainable development policies in collaboration with each business line.er.
FRED HAS TWO INTERLOCKING AIMS: :
During 2011 ten Crédit Agricole S.A. Group entities (Amundi, Crédit Agricole Assurances, CACEIS, Crédit Agricole Consumer Finance, CACIB, Crédit Agricole Leasing & Factoring, Crédit Agricole Private Banking, Cariparma, Crédit Agricole S.A., and LCL) committed to the initiative. The other entities will join in gradually. In 2011 participating entities launched some 200 FReD projects.
The average assessment of the progress made by each entity will be used to construct a FReD Index, which measures the Crédit Agricole S.A. Group’s social performance. The index will have an impact on senior management compensation throughout the Group, in the same way as operating income, thus demonstrating the strategic importance of CSR policy.
What is FReD? Watch the video to find out more.