Green finance, a powerful driver for sustainable development
European Sustainable Development Week is organised from 18 September to 8 October 2020, with the most important events taking place from 20 to 26 September. This year’s event marks the fifth anniversary of the adoption by the United Nations of the 2030 Agenda, which sets out 17 Sustainable Development Goals (SDGs) aimed at eradicating poverty, protecting the planet and ensuring that all people enjoy prosperity.
To meet the SDGs, all the Bank’s employees need to be involved so that we can continue to innovate and meet a strong social expectation to step up the transition to a more environment-respectful economy.
This is why Crédit Agricole CIB implemented, in May 2020, a network of Sustainable Banking Coordinators, appointed in each of the Bank’s business lines all over the world.
Crédit Agricole CIB is one of the world leaders on the Green Bond and sustainability-linked loan markets. Supporting our clients in their energy transition is one of the key objectives in our 2022 Medium Term Plan.
The Sustainable Banking Coordinators work on concrete projects aimed at contributing to Crédit Agricole CIB's development in Sustainable Finance. After completing training on general aspects of sustainable finance instruments developed by the Bank, the Sustainable Banking Coordinators have access to shared resources (such as regular market information, shared tools, and participation to the annual seminar). Each Coordinator is able to devote 10% to 20% of their working hours to the topic and can define an annual target relating to sustainable finance. Today, about a hundred of employees are part of this network worldwide.
The network was rolled out to maintain a robust shared culture and expertise across all the business lines and support functions, the key objectives being to seize new opportunities, anticipate emerging risks and manage the industrialisation of certain sustainable finance products.
The network was also created to respond to the expectations of many employees seeking to be involved in green finance in their day-to-day work.
Capping off the launch year, the first seminar bringing together the Sustainable Banking Coordinators was held on 9 September 2020 in Montrouge. A conference was led by Jean-Marc Jancovici, an energy and climate specialist, professor, journalist and founder of The Shift Project, on the role of the financial industry to reply to the Paris Agreement objective of limiting global warming to +2°C by the end of the century. The Coordinators also took part in a workshop to discuss the issues in a hands-on manner.
"The transition to an environmentally-friendly and more inclusive economy has become a priority for many of our clients as well as for the public authorities and the society. For several years now, Crédit Agricole CIB has been a driving force for the development of the sustainable finance markets.
This year, we have continued to support many financial institutions around the world in issuing social bonds dedicated to fight the Covid-19 pandemic. We have also taken an extra step by setting up inside the Bank a dedicated network of coordinators to maintain the highest level of expertise and common culture in sustainable finance in all our business lines and support functions.
Crédit Agricole CIB will continue to offer its clients innovative solutions for the energy transition, tailored to their needs and to the economic situation".
Didier Gaffinel, Head of Global Coverage & Investment Banking
Review of the transactions that have marked the economy through their sustainable impact