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External assessments

Declarative ratings

Each year, Credit Agricole S.A. is rated on its social and environmental responsibility (SER) policy by extra-financial rating agencies.
Some of these agencies have joined forces with stock index companies to produce indices incorporating social, environmental and governance-related criteria.

Vigeo and ASPI Eurozone

Crédit Agricole S.A. has been a constituent of the ASPI Eurozone index since September 2004. This index is composed of the 120 listed companies in the euro zone with the best social and environmental performance. Stocks are selected on the basis of the ratings produced by Vigeo. The results obtained by Crédit Agricole S.A. in the last Vigeo assessment in 2009 led to its continued inclusion in the ASPI Eurozone index.

Ethifinance and FTSE4Good

Crédit Agricole S.A. joined the FTSE’s socially responsible equity index in September 2005.
The FTSE4Good index encompasses companies who put social and environmental risks at the heart of their policy and their management system.
Ethifinance is the French agency in charge of appraising Crédit Agricole and makes its research and analysis available to EIRiS on behalf of FTSE4Good to help form the index.
SAM and the DJSI
Every year, Crédit Agricole responds to the questionnaire sent to it by the extra-financial rating agency SAM, which rates businesses either for inclusion in or exclusion from the Dow Jones Sustainability Index (DJSI).
This analysis, which is conducted by major sector of activity, covers the economic, social and environmental dimensions of sustainable development.
The 2009 results led to the inclusion of the Group in the DJSI World index for the first time and its continued membership of the DJSI STOXX (European universe) index.


In 2007 and 2008, Crédit Agricole was rated AAA by social and environmental rating agency Innovest in the global banks category.

Innovest’s analysis assesses businesses based on the quality of their SER programme (social and environmental responsibility) with a proven economic impact (Equator Principles, Principles of Responsible Investing, SRI, etc.). Innovest salutes the constant progress being made by the Group based on the adoption of a responsibility-based policy within each business line and has also acknowledged the attention paid by Crédit Agricole and its subsidiaries to social and environmental risks incurred by their customers and investments.

The rating obtained (AAA) put Crédit Agricole among the eight French businesses in the top 100 socially responsible businesses at global level in 2008 (Accor, Air France-KLM, Danone, L’Oréal, Lafarge, Michelin, Saint-Gobain). Innovest’s analysis was also the foundation for the Global Bank of the Year prize in 2007 received from The Banker, the leading trade magazine.

Solicited ratings

Crédit Agricole S.A. decided to have its sustainable development performance assessed by an independent expert specialised in solicited ratings, extra-financial rating agency BMJ Ratings. The rating agency carried out a rating of the Crédit Agricole Group with regard to internationally recognised standards and corporate best practices. The bank’s performance was analysed between late 2007 and early 2008 based on the challenges, risks and opportunities in six areas, i.e. environment, human resources, sales and marketing, purchasing and outsourcing, relationship with society and corporate governance.

Certain Regional Banks, as well as the Group’s asset management subsidiary Crédit Agricole Asset Management have also decided to get themselves assessed on one or more aspects of their SER programme.