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European Climate Pact

Overview

Location

France

Sector

Banking, Financial and Insurance Services

Organisation type
Business

Company Information

Credit Agricole is a listed global bank with headquarters in Montrouge, France. In 2021, it reported a total Net Banking Income of 5.9 billion Euro and 8,940 employees.*

*Source

Our progress towards decarbonization

 

GHG Emissions

Our actions – the Pathway

  • Credit Agricole has a target to reduce absolute scopes 1, 2 and 3 CO2e emissions 46% by 2030 from a base year of 2019. This is a year-on-year reduction rate of 4.2% over the next 9 years

Pledge: Have a short-medium term GHG emissions reduction target (scope 1+2) with a 2.1% year-on-year reduction at a minimum

MRV: Pact MRV in place

Status date: Submitted (29/07/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

  • Have an internal price on carbon 
  • Have an initiative in place to drive GHG emission-reduction through a company policy or behavioral change
  • Have scope 1+2+3 GHG emissions verified through a third party verification or assurance process 
  • Take action to align our portfolio to a 1.5°C world
  • Join the NetZero Asset Owner Alliance
  • Assess if  clients/investees’ business strategies are aligned to a well below 2-degree world
  • Have a policy framework requiring clients/investees have a climate transition plan
  • Conduct analysis to understand the impact of our investment portfolio on the planet, in line with TCFD recommendations

MRV: Pact MRV in place

Status date: Submitted (29/07/2022)

Data source: CDP Climate Change 2022

 

Energy

North Star

  • Credit Agricole has a company-wide target to consume 100% of electricity from renewable sources by 2030 from a baseline of 56.0% renewable electricity consumption in 2019

Pledge: Have a target for 100% renewable electricity consumption by no later than 2050, in line with the RE100 technical criteria 

MRV: Pact MRV in place

Status date: Submitted (29/07/2022)

Data source: CDP Climate Change 2022

 

Governance & Strategy

Our actions – the Pathway

  • Publicly disclose climate and environmental data to investors and customers through a public platform
  • Have board-level oversight of climate-related issues
  • Have a process for identifying, assessing, and responding to climate-related risks and opportunities
  • Have an employee engagement strategy to support and contribute to achieving the company's climate and environmental goals

MRV: Pact MRV in place

Status date: Submitted (29/07/2022)

Data source: CDP Climate Change 2022