In order to meet the goals of the Paris Agreement and the major challenges created by climate change, Crédit Agricole CIB made increasingly strong commitments in recent years to speed up the transformation of the economy.
At the end of 2021, as part of Crédit Agricole Group’s collective mobilisation around its Social Project (a real programme that revolves around three priorities: climate, social cohesion, and agricultural and agri-food transitions) Crédit Agricole CIB reinforced its commitments to the climate and to supporting its clients in their energy transition and decarbonisation strategy.
The Bank strengthened its sector policies* linked to unconventional hydrocarbons and the protection of the Arctic. Furthermore, Crédit Agricole CIB made a commitment to reduce its exposure to oil extraction by 20% between 2020 and 2025 and to increase its exposure to low-carbon energy (production and storage) by 60% over the same period.
To take the transformation of its business model even further, Crédit Agricole CIB adopted in 2022 a new Strategic Plan “Ambitions 2025”, which is part of the Group’s Project. In this plan the Bank confirms its commitment to serve its clients and society as best as possible by supporting them in their main transitions, particularly the environmental transition.
With this new plan, the aim is to provide clients and society with the best possible support towards carbon neutrality and to make a commitment to protect the environment and biodiversity. In line with this approach and as part of its membership of the Net Zero Banking Alliance, the Crédit Agricole Group defined decarbonization trajectories to 2030 for five priority sectors (oil and gas, automotive, commercial real estate, power generation and cement). Crédit Agricole CIB made a strong contribution to the Group’s efforts and strengthened its commitment to reduce its exposure to oil extraction and production, rising this target to 25% between 2020 and 2025 (versus 20%).
250The number of experts in all the Bank’s business lines and regions that serve the “Sustainability Community”
€16.2 BnOutstandings in green loans on 31 December 2022
* CSR sector policies detail the social and environmental criteria taken into account in the Bank’s financing policies.