Climate Change Data

Crédit Agricole S.A.

Climate Impact & Sustainability Data (2022, 2023, 2024)

Reporting Period: 2022

Environmental Metrics

Scope 1 Emissions:27997 tCO2e/year
Scope 2 Emissions:25439 tCO2e/year
Scope 3 Emissions:18990 tCO2e/year
Renewable Energy Share:86%
Total Energy Consumption:461239 MWh/year
Carbon Intensity:0.73 tCO2e/FTE employee

ESG Focus Areas

  • Climate Change
  • Biodiversity

Environmental Achievements

  • Significant decrease in scope 2 emissions due to several subsidiaries valuing electricity purchased via guarantee of origin certificates and a shift to renewable energy.
  • 86% of overall electricity consumption from renewable sources in 2022.

Social Achievements

  • Increased workforce dedicated to ESG strategy and non-financial performance monitoring.
  • Launched Livret Engagé Sociétaire, a savings product that finances eligible projects.

Governance Achievements

  • Board-level oversight of climate-related issues.
  • Executive compensation linked to ESG performance (16% for CEO, 12% for Deputy CEOs).

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions by 2050.
Medium-term Goals:
  • Achieve 100% renewable energy by 2030.
  • Achieve 100% alignment of spending/revenue with EU Taxonomy by 2030.
Short-term Goals:
  • Reduce energy consumption by 14% by 2024.
  • Achieve 50% alignment of spending/revenue with EU Taxonomy by 2025.

Environmental Challenges

  • Supply chain disruptions due to climate events.
  • Challenges in sourcing renewable electricity in specific countries (China, India).
Mitigation Strategies
  • Developed alternative sourcing strategies.
  • Implemented an energy efficiency plan targeting a 14% energy saving by 2024.
  • Launched a drought laboratory project to test solutions for drought risk mitigation.

Supply Chain Management

Supplier Audits: 50% of suppliers in high-risk categories underwent EcoVadis CSR assessment in 2022.

Responsible Procurement
  • CSR Charter
  • Specific clauses in contracts
  • EcoVadis CSR assessment

Climate-Related Risks & Opportunities

Physical Risks
  • Flooding
  • Drought
Transition Risks
  • Regulatory changes
  • Market shifts
  • Uncertainty in market signals
Opportunities
  • Development and expansion of low-emission goods and services
  • Increased demand for funds that invest in companies with positive environmental credentials

Reporting Standards

Frameworks Used: TCFD, GRI, UN Global Compact, Principles for Responsible Banking, PRI

Third-party Assurance: Limited assurance

UN Sustainable Development Goals

  • Goal 7
  • Goal 13

Initiatives contribute to these goals through renewable energy investments, emissions reduction targets, and support for sustainable development projects.

Sustainable Products & Innovation

  • Livret Engagé Sociétaire
  • Amundi Net Zero Ambition Global Corporate Bond fund
  • Amundi MSCI ACWI SRI PAB ETF
  • Amundi European Net Zero Ambition Real Estate fund
  • Amundi Energy Transition funds

Awards & Recognition

  • A grade in Transport & Environment’s ranking for its ambitious policy to reduce greenhouse gas emissions.

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change
  • Social Inclusion
  • Agricultural and Agri-food Transitions

Environmental Achievements

  • 63% decrease in financed emissions (9.1 MtCO2e) at end 2023 vs 2020 (17.7 MtCO2e in 2021 and 14.5 MtCO2e in 2022) in the Oil & Gas sector.
  • 35% reduction in Crédit Agricole CIB’s exposure to oil extraction in 2023 vs 2020, ahead of the 25% reduction target in 2025.
  • 17% decrease in the carbon intensity of financings (185 gCO2e/KWh) at end 2023 compared to the 2020 baseline in the Power sector.
  • 13% decrease in the carbon intensity of financed emissions in 2023 compared to 2020 in the Automotive sector.
  • 5% decrease of the carbon intensity of financed emissions in 2023 vs 2020 in the Commercial real estate sector.

Social Achievements

  • Not disclosed

Governance Achievements

  • Not disclosed

Climate Goals & Targets

Long-term Goals:
  • Reach loan and investment portfolios carbon neutrality by 2050
Medium-term Goals:
  • Reduce operational carbon footprint by 50% by 2030 related to energy consumption by buildings and the vehicle fleet (scopes 1 and 2) and linked to business travel (scope 3 category 6) between 2019 and 2030 (absolute emissions target).
  • Reduce CO2eq emissions per RTK by 25% by 2030 compared to 2019 in the Aviation sector.
  • Reduce gCO2e/ DWT.nm financed emissions by 36% by 2030 compared to 2020 in the Shipping sector.
  • Reduce the intensity of CO2e emissions per ton of steel produced by 26% by 2030 compared to 2020 in the Steel sector.
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Slight increase of +3% in the carbon intensity of financed emissions in 2023 compared to 2020 in the Cement sector due to the end of the relationship with several relatively less carbon-intensive customers.
Mitigation Strategies
  • Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: Green Bond Principles (GBP)

Certifications: Null

Third-party Assurance: Vigeo Eiris

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Impact product range

Awards & Recognition

  • Not disclosed

Reporting Period: 2024

Environmental Metrics

ESG Focus Areas

  • Climate change mitigation
  • Financial health & inclusion

Environmental Achievements

  • Reduction of exposure to oil extraction and production by 75% between 2020 and 2025
  • 60% growth in low-carbon energy exposure by 2025
  • Doubling financing in renewable energy by 2025
  • Reducing our operating carbon footprint by 50% between 2019 and 2030: scopes 1 and 2

Social Achievements

  • Number of customers in vulnerable situations supported: 67,809 in 2023 compared with 33,434 in 2022 and 21,607 in 2021.
  • Number of customers who subscribed to the entry-level offers: 347,625 in 2023, 254,223 in 2022, 194,431 in 2021.

Governance Achievements

  • ESG performance included in employee profit sharing schemes for 20% of employees in 2023
  • Non-financial criteria accounts for 40% of annual variable compensation for executive corporate officers.

Climate Goals & Targets

Long-term Goals:
  • Achieving Net Zero by 2050 for all portfolios
Medium-term Goals:
  • Achieving Net Zero by 2050
  • 50% reduction on our own direct carbon footprint by 2030
  • LCL: 300,000 customers subscribed to entry-level offers by 2030
  • LCL: 60,000 customers in vulnerable situations supported by 2030
Short-term Goals:
  • Set short term targets for 2026 under Pillar 3 reporting requirements

Environmental Challenges

  • Conducting an impact analysis
  • Assessing negative environmental and social impacts
  • Setting targets
  • Customer engagement
  • Stakeholder engagement
Mitigation Strategies
  • Regular meetings with civil society actors, customer consultation, employee consultation, handling of controversies, relations with shareholders/investors, dialogue with the ECB and supervisory authorities, relations with business partners and suppliers.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, TCFD, CDP

Third-party Assurance: Limited assurance report from one of the statutory auditors

UN Sustainable Development Goals

  • SDG 1, 3, 10, 11, 12, 13, 14, 15

The report details alignment with various SDGs across climate action, social inclusion, and agricultural transitions.