Climate Change Data

Crédit Agricole Assurances S.A.

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Renewable Energy Share:100% (French sites)
Total Energy Consumption:9,232,773 kWh (electricity)
Waste Generated:184 tons
Carbon Intensity:8 tonnes of CO2e per employee per year (2022)

ESG Focus Areas

  • Climate Change
  • Social Cohesion and Inclusion
  • Agricultural and Agri-food Transitions
  • Responsible Insurance
  • Responsible Investment
  • Responsible Company

Environmental Achievements

  • Reduction of the carbon footprint (scope 1, 2 and 3) by 17% by 2025: SBTI commitment
  • Commitment to plant or protect 4 million trees between 2018 and 2025. By end-2023, 3.3 million trees had been planted or protected.
  • Increase the production capacity of the renewable energy facilities that Crédit Agricole Assurances helps to finance to: 14 GW By end-2023, this capacity was 13.5 GW.
  • Reduction of the carbon footprint of investment portfolios in equities and corporate bonds by 25% between 2019 and 2025 as part of NZAOA.
  • Inauguration of two low-carbon Claims Management Units (CMUs) in Grenoble and Caen.

Social Achievements

  • Launched the “J’AGIS” skills sponsorship program. In 2023, more than 200 missions were performed.
  • Launched a new call for projects: “Help for caregivers”.
  • Signed the StOpE (“Stop Ordinary Sexism in the Workplace”) charter.
  • Accelerated the development of inclusive offers, notably by supporting young people to access home insurance.
  • Supported the reform of crop insurance.

Governance Achievements

  • Successfully placed a €500 million issue of Tier 2 subordinated bonds and completed the partial buyback, for an equivalent total amount, of its Tier 1 subordinated debt currently benefiting from a grandfather clause.
  • Formalized the main principles of its voting and commitment policy.

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions by 2050
Medium-term Goals:
  • Increase the production capacity of renewable energy facilities to 14 GW by 2025
  • Reduce the carbon footprint of listed equity and corporate bond investment portfolios by 25% between 2019 and 2025
  • Support one in every four farmers deal to climate issues by 2025.
Short-term Goals:
  • Achieve €28 billion in Responsible Labelled UA by 2025
  • Reduction of the carbon footprint (scope 1, 2 and 3) by 17% by 2025
  • Design and reworking of newly created offerings based on a 100% CSR framework by 2025.
  • Increase funds under management in labelled unit-linked funds to €28 billion by 2025.

Environmental Challenges

  • Intensifying social changes
  • Lacklustre economic environment
  • Severe weather events
  • Rising interest rates
  • Climate emergency
  • Shortage of employees in the personal services sector
  • Increasing frequency and scale of climate events
  • Cybersecurity risks
Mitigation Strategies
  • Developed alternative sourcing strategies
  • Accelerated digital trajectory
  • Developed diversified investment vehicles and an online management tool
  • Strengthened the self-care services offered through banking applications
  • Implemented a psychological support service for claimants
  • Introduced insurance cover for renewable energy facilities
  • Implemented a travel policy to encourage the use of transport with the least impact
  • Deployed a fraud prevention system
  • Implemented a program to bring its systems into line with the new requirements arising from the Sapin 2 anti-corruption law.

Supply Chain Management

Supplier Audits: 5,421 suppliers rated by EcoVadis

Responsible Procurement
  • Responsible Purchasing Charter
  • UN Global Compact principles
  • Diversity Charter
  • Know Your Supplier (KYS) system

Climate-Related Risks & Opportunities

Physical Risks
  • Severe weather events (storms, flooding, hail, drought)
  • Climate events affecting buildings, vehicles, and crops
Transition Risks
  • Adjustments issuers will have to make to move to a low-carbon economy
Opportunities
  • Development of energy-efficient products and services
  • Investment in renewable energy

Reporting Standards

Frameworks Used: TCFD, UN Global Compact, PRI, NZIA, SBTi

Sustainable Products & Innovation

  • Entry-level insurance products
  • Insurance for renewable energy facilities
  • Responsible investment mandates

Awards & Recognition

  • Argus d’Or ‘‘Civic company’’ 2019 and 2021 awards
  • AGEFI’s “Global Invest Sustainable Insurance Company of the year” award in 2018