The fight against climate change is a major global issue. We need to reduce our greenhouse gas emissions; individuals are called on to limit their consumption, companies to improve the energy efficiency of their products, equipment and buildings, to respond to new usages, to develop circular economy, energy producers to accelerate energy transition.
To cut down on the use of fossil fuels and meet the objective of limiting global warning to 2°C by the end of the 21st century, on 13 May 2015 the Crédit Agricole S.A. Group announced its decision to no longer finance coal mine projects and operators specialised in this activity.
The new commitment rounds out the four measures announced in September 2014 by Jean-Yves Hocher, CEO of Crédit Agricole CIB, which aim by end-2015:
- To structure more than USD 20 billion of new financings by 2015 to fight against climate change;
- To measure and publish the carbon footprint of its financings;
- For sectors that represent a total of 80% of the carbon emissions financed by the bank, to apply sector policies that define analysis and exclusion criteria used in selecting its financings and investments;
- To suggest new partnerships for the financing of environmental projects.
More information about Crédit Agricole’s commitment to sustainable development: