- 30.06.2020
- 2'45 min
- 0
The Crédit Agricole Group publishes its new policies on coal
The Crédit Agricole Group's CSR (Corporate Social Responsibility) sectoral policies on thermal coal* have been updated and now include commitments related to the gradual exclusion of thermal coal from its portfolios. These policies provide for a graduation of business relationships, taking account of customers' involvement in the thermal coal industry (proportion of associated revenues) and their transition trajectories. This reflects Crédit Agricole's desire to support and encourage its clients to transform their business models. Crédit Agricole is committed to excluding thermal coal from its portfolios by 2030 for the European Union and OECD countries, and by 2040 for the rest of the world.
A path followed by Crédit Agricole Assurances
Crédit Agricole Assurances adheres to this movement as part of its strategy of supporting the energy transition. In 2019, for all new investments, we launched a plan to dispose of the main exposures identified in the coal sector. In this way, we are phasing out our investments in emitters:
• that make more than 25% of their turnover from coal mining or produce at least 100 million tonnes of coal per year;
• whose revenues are equal to or greater than 50% of their total revenues from coal-fired power generation;
• whose revenues are equal to or greater than 50% of their total revenues from coal-fired power generation;
In Franthat do not intend to reduce their percentage of revenues from these mining or coal-fired power generation activities.ce, Crédit Agricole Assurances is the leading institutional investor in the energy transition. As part of our "Ambitions 2020" plan, we exceeded 2 GW of funding at the end of 2019. The Group is committed to regional development through its major investments in infrastructure and renewable energies, notably through its partnership with ENGIE. As a consequence, by late 2019, €922 million had been invested in energy transition programmes (including wind and solar power, combined heat and power production, heating and cooling networks, etc.).
Access all of the Crédit Agricole Group’s sectoral policies
* Mining, coal-fired power plants and transport infrastructure
