In which tax once again raises its head…2018/12/06
CSR, a factor of sustainable performance for Crédit Agricole Group
The Crédit Agricole Group, with its cooperative and mutualist roots and history, possesses a DNA and governance that predispose it to investing in the resilience of the territories it works in, the sustainability of the projects that it finances, the usefulness for its clients in the long term, and the sharing of the value created, with a particular emphasis on solidarity.
FReD, applied CSR for all entities
FReD is the global tool for steering and measuring the Group’s progress in terms of CSR. Its three pillars are trust (FIDES), respect for people and territory (RESPECT), and preservation of the environment (DEMETER). With this we have initiated a CSR approach that is guided by a benchmark organised around 19 commitments, for which each entity continuously deploys 12 very concrete actions.
What is FReD’s part in the Group’s CSR approach?
The Group’s CSR policy provides a course to steer on CSR issues. FReD is the enforcer for Crédit Agricole S.A. and its subsidiaries.
Its aim is to involve and mobilise entities, stimulate their initiatives, and spread the use of CSR practices. FReD has enabled the Group’s entities and business lines to take on board and to understand the CSR topics they are expected to implement. Currently, prioritising concrete CSR targets means adjusting FReD’s orientation and improving its contribution to the Group’s overall performance.
What’s unique about it?
It is an internal system, in a multi-business, multi-cultural, decentralized group, with variable levels of CSR maturity. With FReD we move forward together, keeping the most advanced on their toes without stigmatizing those less advanced, and each one fits into a dynamic of ongoing, participatory progress, sharing the best practices and innovative actions of all.
Being a committed Group
For over 10 years, Crédit Agricole has demonstrated its involvement through its various commitments, many of which have focused on the development of “climate finance”.
Signatory of the:
• United Nations Global Compact since 2003;
• Equator Principles since 2003;
• Principles for Responsible Investment since 2006;
• Diversity Charter since 2008;
• Sustainable Purchasing Charter since 2010;
• Charter for the energy efficiency of commercial buildings since 2013;
• Science Based Targets since 2016;
• RE 100 since 2016.
Co-founding member of the:
• Green Bonds Principles since 2014;
• Portfolio Decarbonization Coalition since 2014;
• Mainstreaming of Climate Action Within Financial Institutions since 2015;
• Catalytic Finance Initiative since 2015;
• French Business Climate Pledge since 2015;
• BBCA association (low-carbon building) since 2015;
• Finance for Tomorrow since 2017.
Participant in the:
• Call for carbon pricing at the initiative of the World Bank Group in 2014;
• Montreal Carbon Pledge since 2015;
• Paris Appeal on Climate Change since end 2015;
• IIRC (International Integrated Reporting Council) since 2016;
• Task Force on Climate Disclosure since 2017;
• Climate Action 100 + since 2017.
• Statement on modern slavery since 2017.
Our sector policies
The Group integrates social and environmental criteria in its financing choices. It makes those choices on the basis of policies on activity sectors with the greatest potential impacts, such as arms, energy, mining and metals, transport and transport infrastructure, and forests and palm oil.