Headline news
Last news
Crédit Agricole S.A. included in Top 100 socially responsible corporations worldwide - 18/02/2009
At the recent Davos summit, the extra-financial rating agency Innovest published a study ranking corporations on the basis of the quality of their Corporate Social Responsibility programme, with a proven economic impact, rated on the basis of the Equator Principles, the Principles for Responsible Investment, socially responsible investment (SRI) energy savings loans, and so on. Crédit Agricole was rated AAA and is thus one of the eight French companies included in the rankings. The others were Accor, Air France-KLM, Danone, L’Oréal, Lafarge, Michelin, and Saint-Gobain.The Group received an award from The Banker in 2007 on the strength of an Innovest analysis.
Extratropical Cyclone Klaus: Crédit Agricole mobilises - 29/01/2009
Given the scale of the damage caused by extratropical cyclone Klaus, Pacifica, the Crédit Agricole Group’s property and casualty insurance subsidiary, has strengthened its facilities for taking customer calls and paying out compensation.
In the space of just two days, Pacifica registered some 17,000 insurance claims and estimated the number of customers who had sustained damage from the storm at around 30,000. To cope with the flood of calls, over 400 staff have been drafted in and are totally dedicated to registering customer claims.
As part of its general compensation policy, individual Pacifica customers already benefit from a “zero deductible” after three claim-free years. This applies to around 50% of customers insured with Crédit Agricole. Exceptionally, Pacifica has decided to extend this mechanism to all individual customers who have sustained damage from Klaus and who are insured through Crédit Agricole and did not benefit from the deductible.
2008 news
Crédit Agricole S.A. follows through on environmental commitments - 11/12/2008
Following the carbon audit carried out in 2006 and updated in 2008, Crédit Agricole S.A. has decided to offset its energy-related CO2 emissions. One of the projects chosen to meet the objectives consists in buying carbon credits via financial support for the construction of a low-pollution electricity-generating power station in Brazil.
Crédit Agricole S.A. purchased carbon certificates enabling it to offset 15,000 tonnes of CO2 (90 % of its emissions) emitted each year by the energy consumption of the Greater Paris group.
Crédit Agricole signs up to The Climate Principles and confirms its commitment to tackling climate change - 02/12/2008
Crédit Agricole signed, the 2 December 2008, the Climate Principles, a code of best practice designed for the financial industry and coordinated by The Climate Group. It is thus confirming its commitment to tackling climate change and reducing emissions of greenhouse gases (GHG).
One of the first firms to sign up to the Equator Principles, Crédit Agricole is also a leading member of The Climate Principles, along with several other international financial institutions. The Group’s commitment is consistent with its overall philosophy of environmental and social responsibility.
Financial institutions play a key role in combating climate change. Firstly as companies, they have a duty to reduce GHG emissions related to their business activities. Secondly as advisors, lenders, investors and insurers, they are instrumental in encouraging their customers - individuals, companies and local authorities - to opt for projects that mitigate climate risk. Lastly, they can accelerate innovation in the sphere of climate change.
The Crédit Agricole joins the Dow Jones Sustainability Indexes (DJSI) - 18/09/2008
After the prize "The Banker” on 2007 rewarding the Group for its environmental and social responsibility policy, the Crédit Agricole has been accepted for inclusion in the DJSI STOXX. This index collects the leading European companies as regards sustainable development. Crédit Agricole S.A. is now listed in the main sustainability indexes: Aspi Eurozone since 2004, FTSE4Good since 2005 and DSJI STOXX.
The joining of Crédit Agricole S.A. in this index rewards its efforts to place the sustainable development in the heart of its strategy and its businesses and also illustrates the quality of its sustainable policy. The Group’s process, directed around the fight against climate change, the respect for human rights, notably on the international stage, support for the agricultural world and the range of responsible products and services, will continue to be gone deeper into a decentralized way within Crédit Agricole S.A ., its subsidiaries, and the Regional Banks.
Crédit Agricole Cheuvreux : first broker to sign the United Nations' Principles for Responsible Investment - 05/06/2008
Crédit Agricole Cheuvreux, the European equity broker, has become the first signatory to the UN-backed Principles for Responsible Investment (PRI), an investor initiative in partnership with UNEP Finance Initiative and the UN Global Compact.
The PRI provide a framework for incorporating environmental, social and governance (ESG) issues in investment decisions. CA Cheuvreux is the first broker broker to have signed this set of global best practices for investment principles, developed in 2005 by a United Nations convened working group. As of September 2008, there were more than 420 signatories to the PRI representing over US$15 trillion in assets under management.
This involvement represents a major step in CA Cheuvreux's strong commitment to place ESG issues at the heart of its developments, as a research broker but also as a responsible company.
World Environment Day : Crédit Agricole gets involved with the “Ligue de Protection des Oiseaux” - 05/06/2008
In line with environmental-friendly actions, Crédit Agricole S.A. decides to stengthen its support for the “Ligue de Protection des Oiseaux – LPO“ (Bird life international French partner) by signing a partnership the 11th of June with this association.
Il will especially concern the “LPO’s refuges programme” which proposes to personal customers and communities to lead environmental actions.
This signature is in keeping with a collaboration committed regarding a “farming and biodiversity sponsorship programme” in collaboration with three voluntary farming networks (FARRE, FNAB and FNCIVAM), which has allowed to count biodiversity into farmings and propose improvements.
This partnership also lets Crédit Agricole’s regional banks develop with LPO’s local teams environmental actions.
Renewables show: Crédit Agricole, taking an active role in financing environmental investments - 19/06/2008
For the third consecutive year, Crédit Agricole, which is active in the financing of renewable energies and environmental initiatives, is taking a stand at the Salon des Energies Renouvelables trade show, which takes place from Thursday 19 to Saturday 21 June 2008 at the Paris Expo showground at Porte de Versailles in Paris.
Via its subsidiaries and the Regional Banks, Crédit Agricole is an important economic player involved in financing many projects. Unifergie, for example, a subsidiary specialising in the leasing and hire of facilities designed to reduce energy use and protect the environment, is financing 25% of the national wind energy portfolio, and nearly one in four cogeneration plants. It has also helped set up household waste processing units. From this year, the Regional Banks have begun offering and developing an environmental offer for all their customers. Last, in 2006, Crédit Agricole Private Equity, a subsidiary specialising in acquiring direct equity stakes in unlisted companies, launched Capenergie, the first institutional venture capital fund dedicated to renewables and energy efficiency.
Solidarité Logement programme launched - 14/05/2008
As the leading private-sector banking network for the distribution of social housing loans in 2008, with a total budget of 881 million euros, Crédit Agricole is continuing its long-term commitment to social housing and safety net social housing and is launching a new programme called Solidarité Logement.
The programme is designed to support social agencies making a positive contribution to social integration via proper housing. Crédit Agricole has given its non-profit body, Crédit Agricole Solidarité et Développement (CASD), a remit to contribute to the selection and follow-up of projects and to the oversight of the funds earmarked for the programme.
Consequently, on 14 May Fédération Nationale du Crédit Agricole (FNCA) and CASD signed an initial partnership agreement with Fédération Nationale Habitat et Humanisme represented by its founder, Bernard Devert, at a ceremony attended by Christine Boutin, Minister of Housing and Urban Affairs.
The agreement, which notably involves a contribution amounting to 300,000 euros, will enable Habitat et Humanisme to develop local support initiatives designed to allow families in difficulty to regain their self-confidence and independence, and renew the social ties that are essential to any integration project.
Acquisition by Energias de Portugal (EDP) of the French wind energy operator and developer Eole 76 - 02/05/2008
EDP, the listed Portuguese electricity group and 4th global player in the renewable energy sector, acquired the French wind energy company Eole 76. Calyon acted as Sole financial adviser to EDP and its renewable energy units, EDP Renováveis and NEO Energia, for that transaction.
The transaction includes 3 wind farms in operation in the Normandy region, with an installed capacity of 35 MW, and several wind farm projects under development, mostly located in the Normandy and Rhônes-Alpes regions and representing a total capacity of 560 MW. Out of these projects under development, 8 MW are under construction, 12.5 MW have already all the necessary authorizations to start construction and are expected to enter into operation between 2009 and 2010, while construction licenses have already been submitted for another 43 MW. The company founder, Vincent Oget, will remain responsible for the development of these projects and will join, with all his team, the existing French wind energy subsidiary of EDP Renováveis. With this transaction, EDP becomes the third wind farms player in France in terms of installed capacity (122 MW).
The transaction amounted to a total cash consideration of EUR 95 million (Enterprise Value). Additional success fees will be paid for every wind farm construction authorization obtained by the end of 2013.
After the "La Compagnie du Vent" deal closed at the end of last year, the Eole 76 transaction enables Calyon to enhance its franchise within the dynamic renewable energy sector and its position as one of the key financial advisers in the sector.
Crédit Agricole S.A. gets to assess its sustainable performance - 04/2008
In 2007, Credit Agricole S.A. wished to have its sustainable performance assessed by an independent and specialized expert in solicited rating, the extra-financial rating agency BMJ Ratings
The agency assessed the Credit Agricole Group’s performance in comparison with world-recognised standards and good practices from various companies. The performance of the bank is audited from the end of 2007 and the beginning of 2008 considering stakes, risks and opportunities in six areas: environment, human resources, clients, interaction with civil society, and governance.
The conclusions of the study showed that the Group:
- has significant assets to carry out an ambitious sustainable development policy
- has identified and taken into account all responsibilities incumbent within the company
- however has to go deeply into started processes, especially regarding environment and more particularly environmental management of real estate assets.
Crédit Agricole, consumer of fair-trade food products in France - 25/04/2008
For the past two years, Crédit Agricole has provided support for Max Havelaar, and in the process has become one of the biggest consumers of fair-trade food products in France.
All vending machines at Crédit Agricole’s head office and at most of its subsidiaries offer fair-trade products, not only coffee and chocolate, but also cookies and fruit juice. In 2007, 8,800 kg of coffee and 2,900 kg of chocolate were distributed through these machines. For nearly the past three years, Group restaurants have also offered fair-trade coffee, with consumption totalling 1,800 kg last year. Altogether, the Crédit Agricole Group consumed 10.6 tonnes of fair-trade coffee in 2007.
This year, the Crédit Agricole S.A’s sustainable development mission took part to the French Fair Trade Two Weeks, by organizing with the farmers’ associations and Max Havelaar France a meeting between producers from Mali, India, Peru and France.
With Emmaüs, Crédit Agricole has made a commitment to recycling the Group's IT equipment - 26/03/2008
On 26 March 2008 at Chambray-lès-Tours, Crédit Agricole and Emmaüs signed a partnership agreement concerning the recycling of the Group's obsolete computers, in accordance with sustainable development standards. To deal with the problem of managing IT equipment and cleaning up data, SILCA - the Crédit Agricole S.A. Group's IT production economic interest group - introduced an innovative computer recycling system.
First of all, SILCA identifies, collects and sends IT equipment to its national centre (Centre des Éditions Internes National or CEIN) in Chambray-lès-Tours and Indre-et-Loire. Group employees test screens and central units to check whether they are working, then clean up all data.
IT equipment is then collected by Les Ateliers du Bocage, located in Mauléon in the Vendée region. This association, part of the Emmaüs network, is a centre to help with the reintegration of people in difficulty. It collects, sorts, processes, destroys and/or re-uses IT equipment by selling it on to people at a low price.
This project forms part of the Crédit Agricole Group's long-standing commitment to sustainable development.
Actions in connection with Sustainable Development week (1-7 April 2008) - 01/04/2008
For the sixth consecutive year, Crédit Agricole participated in the "Dialogue Equation" forum, an educational project run by France's grandes écoles and universities. These events allow for discussion between students and professionals in order to raise awareness about sustainable development among future managers. Launched on 19 March, the 2008 "Dialogue Equation" event consisted of four forums attended by Crédit Agricole:
- 19 March in Paris, at University Paris 1 Panthéon-Sorbonne
- 27 March at ESC Lille
- 1 April at INSA Lyon
- 3 April at Audencia in Nantes
Internal efforts were also organised during the 2008 Sustainable Development week, such as training in eco-friendly actions in collaboration with ADEME, targeting Crédit Agricole S.A. assistants, the installation of two energy points at the Group's head office and a meeting on the issue of climate change.
Creation of the Grameen - Crédit Agricole Microfinance Foundation - 18/02/2008
In February 2008, Crédit Agricole S.A., in partnership with Professor Muhammad Yunus, winner of the 2006 Nobel Peace Prize, created the Grameen - Crédit Agricole Microfinance Foundation.
In doing so, Crédit Agricole S.A. has made a steadfast commitment to combating poverty worldwide alongside Professor Yunus, founder and managing director of Grameen Bank, as part of its efforts to support sustainable development.
In order to support the development of microfinance institutions in developing or emerging countries, Crédit Agricole S.A. decided to create a specialist foundation in partnership with Grameen Trust, to which it has contributed €50 million. The Grameen - Crédit Agricole Microfinance Foundation provides a broad range of financing solutions for microfinance institutions around the world in the form of loans, guarantees and capital, as well as a platform for advice, discussion and technical support. It will also provide the services of a specialist team made available by Crédit Agricole S.A.
Crédit Agricole S.A. signs the Diversity Charter - 23/01/2008
Georges Pauget, Chief Executive Officer of Crédit Agricole S.A , as well as the Chief Executive Officers of LCL, Calyon, Crédit Agricole Leasing, Eurofactor, Crédit Agricole Asset Management, Banque de Gestion Privée Indosuez, Predica and Pacifica, signed the Diversity Charter on behalf of each of these companies on 23 January 2008. As a reminder, Finaref signed the Charter in 2005 and Sofinco in 2006.
This demonstrates the desire of Crédit Agricole S.A. and its subsidiaries to observe and implement the principles of the Charter, in particular the commitment to combat all forms of discrimination and to ensure that their workforces reflect the diverse make-up of French society.
By signing the Diversity Charter, Crédit Agricole S.A. and its subsidiaries have also reasserted their intention to continue with the initiatives implemented over the last few years to support diversity.
2007 news
Crédit Agricole, Bank of the Year for its sustainable development policy - 28/11/2007
On 28 November 2007, the Crédit Agricole Group was named "Global Bank of the Year" by The Banker for its socially and environmentally responsible policies.
The award, voted by a jury of experts on the basis of analyses and ratings from Innovest (Crédit Agricole is AAA rated), recognises the constant progress made by the Group thanks to the adoption of an accountability policy by each business line.
The distinction from The Banker for the work done is an incentive for the Group and its staff to continue with their efforts to address the key social and environmental issues of today and the future, particularly in the areas of climate change and human rights on an international level.
