Ecological and societal transition
Stepping up our climate commitments
As part of its membership since July 2021 of the Net Zero Banking Alliance (NZBA) aimed at contributing to carbon neutrality by 2050, in December 2022 the Crédit Agricole Group set interim targets for 2030 and established action plans in five economic sectors to achieve those targets. The Group set five further objectives in December 2023. Of the ten sectors now identified by the Group, eight directly involve Crédit Agricole CIB. To the initial five sectors namely Oil & Gas, electricity, automotive, commercial real estate and cement sectors, the Group added the steel, aviation and shipping sectors in December 2023. As part of this initiative, the Bank is supporting clients in their own decarbonisation trajectories and fully contributing to the Group’s commitments in these areas. These measures demonstrate the Bank’s determination to step up its efforts to create a more sustainable future.
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Working towards creating a less carbon-intensive society
Supporting our clients in their decarbonisation journey
Alongside SMEs and mid-caps
To boost its commitment to mid-cap companies, the Crédit Agricole Group has created an expertise centre housed at Crédit Agricole CIB. We are proud today to support these companies in their transition, particularly on CSR and decarbonisation.
In concrete terms, we help them to determine their CSR strategy and establish relevant and sector-adapted decarbonisation objectives.
These companies can now rely on our expertise to commit to a sustainable energy and environmental transition. One such company is the Bonduelle Group, which strengthened its commitment to a sustainable transition in 2023, highlighting the importance and relevance of our contribution to current challenges.
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Alongside large companies
As a partner of major international companies, our bankers and experts in green, social and sustainable financial products worked on several major transactions in 2023.
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Contribute proactively to the preservation of biodiversity
Through the Declaration on Biodiversity and Natural Capital, the Crédit Agricole Group’s Societal Commitment stresses the importance of taking action to protect nature and biodiversity in response to growing international awareness. To protect biodiversity around the world, Crédit Agricole CIB adopts specific policies, joining coalitions and financing high-impact initiatives.
In 2022, Crédit Agricole CIB set up two internal scoring systems to measure the impact and dependence of its clients on biodiversity. At the same time, it worked closely with the Crédit Agricole Group to map biodiversity-related data, methodologies and information providers, establish practices to protect biodiversity and measure the associated risks. This approach is part of the Principles for Responsible Banking and our commitment to a sustainable and responsible economy.
A white paper fostering more sustainable finance
In partnership with the Alliance for Green Commercial Banks, Crédit Agricole CIB published a white paper on sustainable finance in Asia in October 2023. Drawing on regulatory guidance and the expertise of market leaders, the document specifies a methodical five-step approach and highlights green banking fundamentals.
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Accelerate the transformation of our organisation
To take new ESG regulations on board and coordinate its commitments, the Bank has carried out extensive work on adapting internal processes as part of the ESG Regulations and Commitments project launched in June 2022.
It stepped up these efforts in 2023, particularly with regard to the management of the carbon neutrality of the Bank’s portfolios. After organising workshops to determine the main governance principles, the Bank initiated a pilot phase in September 2023 to implement the necessary changes identified, collect user feedback and thus continuously improve the approach.
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Designing responsible products and solutions
To support its clients in their transitions, Crédit Agricole CIB has developed several responsible investment solutions.
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Employees at the heart of the transformation
In line with the Bank’s transformation strategy, a major awareness-raising and training programme was organised throughout 2023 for all employees worldwide. The ambitious programme illustrates the Bank’s commitment to social and environmental responsibility and reflects its desire to train actors engaged in sustainable finance. By offering its employees training on the practical and operational aspects of sustainable development, Crédit Agricole CIB stands as a pioneer among banking institutions.
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