Crédit Agricole to boost commitments in favour of climate
Two years after the Paris Climate Agreement, the Group has decided to further increase its commitments.
Crédit Agricole CIB is to increase the amount of green loans arranged worldwide to €100 billion by 2020, and Crédit Agricole Leasing & Factoring, LCL and the Regional Banks will finance one out of three renewable energy and energy efficiency projects in France by 2020. The fossil fuels most harmful to the environment will be excluded from these activities. Crédit Agricole S.A. is also committing to incorporating climate as a criterion in risk assessments and to fully offsetting its direct carbon footprint.
Crédit Agricole S.A. Chief Executive Officer Philippe Brassac, speaking on LinkedIn, stated "we support progress: our role is to speed up energy transition and to use our expertise to incite our customers to change their economic models for the better. This means that our commitments must be clear and technically sound in order to be effective".