Our climate commitments

In 2022, Crédit Agricole S.A. set 2030 targets for five sectors in line with the Net Zero Banking Alliance*:

• Oil & Gas, 
• Energy, 
• Automotive, 
• Commercial Real Estate 
• and Cement.

In a second phase, in 2023, the Crédit Agricole Group announced targets for five other sectors:

• Shipping, 
• Aviation, 
• Steel, 
• Housing, 
• Agriculture. 
   

These ambitious commitments cover ten sectors that account for more than 75% of global greenhouse gas emissions and around 60% of the Crédit Agricole Group's exposure. The Group has also committed to reducing its own direct carbon footprint by 50% by 2030.

Crédit Agricole CIB has made a significant contribution to the work of the Crédit Agricole Group and has also reinforced its commitment to reduce its exposure to oil extraction and production to 25% between 2020 and 2025 (versus 20%).

The scientific baseline scenario is the IEA NZE 2050 scenario for the Oil & Gas, Power Generation, Automotive and Cement sectors. For the commercial real estate sector, the baseline scenario is the 2021 CRREM (Carbon Risk Real Estate) scenario of 1.5 °C.

(1) taking into account scope 1 and 2 emissions of all counterparties and scope 3 emissions of upstream players, on our balance sheet exposure.

(2) scope 1 emissions from electricity producers; on- and off-balance sheet exposures taken into account for the reference base.

(3) scope 3 tank-to-wheel emissions from manufacturers and scope 1 end-user emissions, excluding heavy vehicles. On- and off- balance sheet exposure taken into account for the reference base.

(4) scopes 1 and 2 taking into account the use of the building, excluding construction. On- and off-balance sheet exposure taken into account for the reference base.

(5) gross CO2 emissions from scopes 1 and 2. On- and off-balance sheet exposure taken into account for the reference base.