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Crédit Agricole commits to a total phase-out from thermal coal

To strengthen its action and commitment to the energy transition, Crédit Agricole has adopted a Group climate strategy, aligned with the Paris Agreement, which will be rolled out by all of its entities. Through this strategy, the Group aims to make green finance one of its levers for growth. In this context, Crédit Agricole is the first major bank to make the exit of coal a climatic imperative.
 

The exposure of the Group’s portfolios to coal industry will be in line with a full-fledged coal phase-out by: 2030 for EU and OECD countries; 2040 for China; 2050 for the rest of the world.

As of 2019, Crédit Agricole will:

 

Companies failing to subscribe to this approach will be automatically placed in a “transition watch list” portfolio and subject to the reduction or even the freezing of our financial support.

The point in pictures with Eric Campos, Head of CSR of Crédit Agricole S.A. and Managing Director of the Grameen Crédit Agricole SA Foundation