Working towards a fairer transition
Crédit Agricole CIB supports and encourages initiatives in favour of a fairer and more inclusive society. In this regard, socially responsible finance is an additional tool at our disposal to continue to offer sustainable finance solutions to our clients, contributing in a practical and immediate way to projects with a strong social impact.
Acting for socially responsible finance
After launching the world’s first green solidarity bond in May 2021, Crédit Agricole CIB’s Taipei branch issued a new green solidarity bond in August 2022.
This issue includes a socially responsible dimension in the form of a monetary contribution to Plastic Odyssey, a Crédit Agricole Group partner since 2018, to help reduce plastic pollution in the oceans. It will also be used to support UNICEF in its efforts to help children and families who urgently need security, stability and protection in Ukraine.
Encouraging microfinance
In October 2022, Crédit Agricole CIB and the Grameen Crédit Agricole Foundation provided a Rs. 350 million (EUR 4.5 million) Sustainability-Linked Loan to Annapurna Finance, an Indian non-bank financial institution specialised in providing micro-credit to low-income populations.
With this facility, Annapurna Finance is committed to strengthening its environmental and social contribution, beyond the inherently social impact of micro-finance, by promoting new solutions to finance the energy transition and the resilience of populations to climate change, and to strengthen women’s entrepreneurship through training.
The Grameen Crédit Agricole Foundation and Crédit Agricole CIB have been working since 2019 to promote financial inclusion through the financing of non-bank institutions in India. For this transaction, the Grameen Crédit Agricole Foundation acted as arranger and guarantee provider to Crédit Agricole CIB in India, which granted this financing to Annapurna Finance.
In addition, as ESG Coordinator, Crédit Agricole CIB’s Sustainable Banking team advised Annapurna Finance on “Solidarity Bankers”, a skills volunteering programme launched by the Grameen Crédit Agricole Foundation and Crédit Agricole S.A. in favour of microfinance institutions and businesses with a social impact supported by the Foundation.