Protecting the environment and biodiversity
Crédit Agricole CIB has long been committed to preserving the environment and biodiversity. As the first French bank to sign the Equator Principles when they were created in 2003, Crédit Agricole CIB takes environmental impacts, particularly those linked to biodiversity, into account when financing projects. The Bank has thus included analysis and exclusion criteria based on the protection of biodiversity in its sector policies.
In 2021, the Bank began mapping the risks linked to biodiversity loss according to geographical and sectoral criteria. This work helped distinguish between sectors that are dependent on healthy biodiversity and those that are likely to generate negative impacts on the natural environment, as well as to identify the countries that are most vulnerable to biodiversity loss.
In 2022, Crédit Agricole CIB worked on defining two biodiversity-related scores. These scores aim to assess clients’ dependence on biodiversity and the impact of clients on biodiversity for corporate portfolios.
2030 TARGETS OF THE NET ZERO BANKING ALLIANCE FOR CRÉDIT AGRICOLE S.A.
OIL & GAS
To reduce by 30%(1) our CO2e emissions financed for clients with activities linked to the whole value chain oil and gas (upstream, midstream and downstream)
POWER GENERATION
To reduce by 58%(2) the carbon intensity of our power generation financings (in gCO2e/kWh)
AUTOMOBILE
To reduce by 50%(3) the intensity of our linked to CACF, CAL&F and Crédit Agricole CIB automobile financings (in gCO2/km)
COMMERCIAL REAL ESTATE
To reduce by 40%(4) the intensity of our emissions financed in the portfolio of commercial buildings (in kgCO2e/m2 – Scope 1&2) in line with CRREM scenario (Carbon Risk Real Estate) 2021 of 1,5 °C
CEMENT
To reduce by 20%(5) the gross intensity of our emissions linked to the financing of cement production (in kgCO2e/ton of cementitious materials – Scope 1&2 gross).
The Group is working on similar targets for other sectors such as shipping, aviation, steel, residential property and agriculture, which it plans to release in 2023.
- taking into account scope 1 and 2 emissions of all counterparties and scope 3 emissions of upstream players, on our balance sheet exposure.
- Scope 1 emissions from power generators; on- and off-balance sheet exposures taken into account for the baseline.
- Scope 3 for manufacturers and Scope 1 for end-users, excluding heavy duty vehicles. On- and off-balance sheet exposure taken into account for the baseline.
- Scopes 1 and 2 taking into account building use, excluding construction. On- and off-balance sheet exposure taken into account for the baseline.
- Gross CO2 emission of scopes 1 and 2. On- and off-balance sheet exposure taken into account for the baseline.
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