Crédit Agricole commits to exit coal

As part of Crédit Agricole’s latest published roadmap, the Group has committed to a common climate strategy, in line with the Paris Agreement, with its implementation certified by an independent body and published in 2020 based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

In financing, the Group will cut funding to thermal coal production in EU and OECD countries by 2030 (no new business relations with companies for which thermal coal accounts for over 25 per cent of their revenues with only very limited exceptions). Meanwhile, financing is pledged for one in three renewable energy projects in France, doubling the size of the Group’s green loans portfolio to €13bn by 2022.

The Group will also promote clean and responsible investment policies, incorporating ESG criteria in all funds managed by Amundi and all new investments by Crédit Agricole Assurances, and aims to achieve a total of €6bn of the Group’s liquidity portfolio in socially responsible investments (SRI) financial products.

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