A WORLD FIRST IN THE GREEN LOAN MARKET
In 2022, Crédit Agricole CIB signed with EDF the first transaction in which the funds will be entirely dedicated to investments in the nuclear sector. This is a world first in terms of energy transition. The loan is part of the Grand Carénage, a major industrial programme that aims to improve safety and extend the service life of nuclear reactors beyond 40 years while creating economic activity in the French regions. French nuclear plants produce very low-carbon electricity: 4 gCO2 equivalent per kWh over the life cycle according to a study published by EDF in 2022 and reviewed by independent experts. The nuclear generation activity is authorised by the European Union’s “green activities” classification.
After working with Crédit Agricole CIB's Sustainable Banking teams to revise our Green Finance Framework to include nuclear power generation – allowed under the EU's green taxonomy – we were delighted to innovate again with Crédit Agricole CIB for this first green loan dedicated to the financing of the fourth 10-yearly visits of nuclear power plants. These visits permit the ongoing production of very low-carbon energy (less than 4 gCO2 /kWh), while maintaining economic activity in the regions concerned.
