Crédit Agricole CIB is the sole French cornerstone member in the Alliance for Green Commercial Banks
Crédit Agricole CIB is honoured to be the sole French bank and one of the five cornerstone members of the Alliance for Green Commercial Banks, thanks to its leadership in green finance and significant achievements in line with the Alliance’s objectives. Crédit Agricole CIB will work closely with the International Finance Corporation (IFC) and the Hong Kong Monetary Authority (HKMA) to implement best practices in green products and services and unlock new business opportunities that will advance sustainable economic development and enable the green transition of economies.
The Alliance for Green Commercial Banks
The Alliance is a global initiative established by the IFC, a member of the World Bank Group and the largest global development institution focused on the private sector in emerging markets. The Alliance’s Asia chapter was jointly launched in 2020 with the HKMA, the chapter’s founding member and first regional anchor. It brings together financial and research institutions and innovative technology providers to develop a green community in emerging markets to collectively finance the infrastructure and business solutions needed to urgently address climate and environmental risks.
With green finance playing a vital role in the Asia-Pacific region’s sustainable economic development, joining the Alliance marks our commitment to a sustainable society by driving financial innovation, promoting responsible investment and advocating client transition to the best green strategies.
We have been working with the HKMA notably as a key partner of Hong Kong Special Administrative Region (SAR) in its sustainable ambitions (read more). Our close partnership with the HKMA in developing green finance will undoubtedly be an asset to the Alliance.
“Crédit Agricole CIB is very honoured to be one of the five cornerstone members in the Alliance for Green Commercial Banks. It is again a good testimony of our global leadership in green finance which is fully recognised in Hong Kong and more broadly in the APAC region. It is also a new way of collaborating with the Hong Kong SAR Government following our strong partnership in the development of their Green Bond Framework and their green bonds issuances as co-structuring advisor since 2018.”
Edouard O’Neill, Chief Executive Officer Hong Kong & Head of Structured Finance Asia
“Pioneer in Sustainable Finance, Crédit Agricole CIB contributed globally to the major initiatives to support the development of this market and promote high standards as being one of the co-author of the Green Bond Principles as well as the only investment bank member of the Technical Export Group for the European Commission. We are honoured to be a cornerstone member of the Alliance for Green Commercial Banks. We are pleased with the opportunity to share our experience with other members and co-develop further sustainable finance market.”
Antoine Rose, Head of Sustainable Banking Asia-Pacific & the Middle East
Sustainable Finance in Asia-Pacific
According to IFC research, emerging markets in East Asia and the Pacific alone have the potential to attract US$18 trillion in climate-related investments by 2030, in everything from green buildings, renewable energy and electric vehicles to public transportation. In Asia-Pacific, the Bank has supported numerous landmark deals in sustainable finance, including Zhong Neng (read more) and Changfang and Xidao (read more) offshore wind farms projects, one of the first green guarantees in the region by Gammon Construction (read more), the first green interest rate swaps in the region by Goodman (read more) as well as the first-ever sustainability-linked green guarantee facility by CTCI Group (read more).
AirTrunk closed its first green loan for a data centre in Japan
Crédit Agricole CIB Taipei continues to develop solidarity-based finance with Plastic Odyssey and UNICEF for Ukraine
Crédit Agricole CIB executes the first onshore green triparty repos through CFETS