Crédit Agricole’s position on the Tanjung Jati B 2 coal-fired power plant project in Indonesia
Following the communication of the NGO “Les Amis de la Terre” on January 3 2017, questioning the respect of Crédit Agricole commitments into question regarding the financing of coal-fired power plants, Crédit Agricole want to clarify the following details :
- Crédit Agricole is the first commercial bank to have raised its ambition to withdraw from fossil energy financing, as early as 2015, with the end of the coal mines financing (On May 2015) and then coal-fired power plants projects in high-income countries (On September 2015). This position was extended in October 2016 to all new coal-fired power projects worldwide. Commitments relating to previously granted financing are naturally honoured in compliance with the conditions set out.
- Specifically regarding to the Indonesian Tanjung Jati B 2 project, the conditions were not completed by the deadline of the credit agreement. Therefore, Crédit Agricole has no longer been involved in this project since the end of 2016.
Crédit Agricole is one of the leading bank in the energy transition and intends to continue its efforts in this area.