For a better browsing experience and to benefit from all the features of credit-agricole.com, we advise you to use the Edge browser.
  • Text Size
  • Contrast

 

CA

 

Press Release

 

Montrouge, 30 september 2015

 

 

 

 

Crédit Agricole S.A. announces new undertakings related to coal and CO2

Against the background of international climate negotiations and in the run-up to the COP21 climate conference, Crédit Agricole has made the following additional commitments:

- not to finance any new coal-fired power stations or their extensions in high-income countries as defined by the World Bank;

- to gradually introduce new assessment criteria relating to climate risks, particularly concerning the cost of CO2, for the Bank’s clients and products.

These new measures, which will come into force before COP21 gets under way, reflect Crédit Agricole’s further commitment to supporting its clients, faced by major economic changes in the best possible way, particularly in areas such as tackling climate change and managing energy transition.

This announcement extends the commitment made in May 2015 to end financing of coal mining projects and operators specialising in this activity. This decision is now effective and forms part of the Bank’s sector policies.

It also builds on the four commitments made by Crédit Agricole CIB at the United Nations “World Climate Summit” held on 23 September 2014 in New York:

-to structure more than 20 billion dollars in new financing by the end of 2015 to help tackle climate change;

-to measure and publish the carbon footprint of the Bank’s financing activities;

-for the sectors representing a total of 80% of all carbon emissions financed by the Bank, to apply sector policies which define criteria for analysis and exclusion in the selection of financing and investment;

-to offer new partnerships for the financing of environmental projects. 

Crédit Agricole S.A. will report on progress on these four commitments, before the start of the COP21.

Crédit Agricole S.A. press contacts

Charlotte de Chavagnac - +33 (0)1 57 72 11 17 – charlotte.dechavagnac@credit-agricole-sa.fr

Alexandre Barat - +33 (0)1 43 23 07 31 – alexandre.barat@credit-agricole-sa.fr

All press releases are available on www.credit-agricole.com - in the News/Press area http://twitter.com/Credit_Agricole

 

Follow info

If you wish to exercise your right to object to the processing of personal data for audience measurement purposes on our site via our service provider AT internet, click on refuse