Social and environmental assessments central to financing decisions
The banking and insurance businesses are underpinned by the knowledge and management of risks. Risks are better assessed when taking account of social and environmental impacts, especially in financing activities.
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. For each of these sectors, the Group has researched the best practices as recognised by international bodies or major professional organisations. The analysis and exclusion criteria were drafted on the basis of these benchmarks. The goal of these sector policies is to establish rules on intervention in terms of financing and investments.
Environmental and social risks are assessed by all the businesses. Tests have recently been carried out with LCL and the Regional Banks on how client companies at local and regional level assess ESG* criteria. These will be stepped up in 2016.
Crédit Agricole CIB, through its CERES Committee, which assesses environmental and social risks, has since 2013 implemented policies to systematically evaluate the ESG criteria of projects and companies. Amundi has done the same for the past ten years.
Our sector policies
*Environmental, social and governance criteria.