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Paris, December 8th 2015 Press release
To mark the COP 21, Crédit Agricole CIB is pleased to announce that the four commitments made at the UN during the “2014 Climate Summit” of September 23rd 2014 by Jean-Yves Hocher, Deputy Chief Executive Officer of Crédit Agricole S.A. and Chief Executive Officer of Crédit Agricole CIB, were fully met and that new commitments are made. The four measures the Bank had undertaken to fulfill by the end of 2015 are: - To arrange more than USD 20 billion in new financings to fight against climate change: on December 1st 2015 this commitment was reached for 50% with asset financings (renewable energy, clean transport) and for 50% with green bonds; - To measure and publish the carbon footprint of its financings: this global carbon footprint is published in Crédit Agricole CIB’s 2014 Shelf-registration document and will continue to be published in the coming years; - To propose new partnerships to finance environmental projects: Crédit Agricole CIB supported Schneider Electric in creating the Energy Access Ventures fund. Supported by several public development banks this fund aims to bring electricity to more than a million people in rural and suburban areas of sub-Saharan Africa. Other partnerships are currently being finalized. Within the framework of the COP 21, Philippe Brassac, Chief Executive Officer of Crédit Agricole S.A. and Chairman of Crédit Agricole CIB confirmed Crédit Agricole’s commitment as a major player in financing the fight against global warming and announced that Crédit Agricole CIB would arrange at least USD 60 billion in new climate financings by the end of 2018. For many years Credit Agricole CIB has been committed to sustainable development, whether in setting up best practices (founding member of the Equator principles, co-writer of the Green Bond Principles, a methodology used to quantify carbon emissions with the ADEME etc.) or in its financings granted to economic players - corporates or financial institutions - in particular through the application of sector policies: armament, energy (oil and gas, shale gas, coal-fired power plants, hydro-electric facilities, nuclear energy) mining and metals, transport (aviation, shipping, automobile), transport infrastructure, real estate, forestry and palm oil. Press Contact About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB)
The Bank provides support to clients in large international markets through its network with a presence in major countries in Europe, America, Asia Pacific and the Middle East. The Bank is continuously pursuing its effort in the fight against global warming. Since 1997 Credit Agricole CIB has been committed to finance renewable energy with the first wind farms, and has become a major player in this sector. In 2008 the Bank was among the first to finance solar energy projects and in 2015 was among the first banks in the world to decide to cease financing coal mining projects or companies linked to this sector, and coal fired power plants in high revenue countries. For more information, please visit its website at www.ca-cib.com |
