Open letter to Philippe Brassac, CEO of French bank and asset manager Crédit Agricole

Reclaim Finance urges Crédit Agricole to stop providing financial services to coal, oil, and gas companies active in Russia, specifically citing the bank's role as a main banker for Gazprom and its support for TotalEnergies. The organization argues that fossil fuel dependence fuels both international conflict and climate change, calling for a shift toward renewables and energy savings to achieve carbon neutrality.

• Reclaim Finance demands that Crédit Agricole stop providing new financing, investment, and other financial services to Russian fossil fuel companies and divest from existing assets, specifically mentioning Gazprom as a major Russian fossil fuel company where Crédit Agricole is a main banker and investor.
• The organization calls for the suspension of support for non-Russian fossil fuel companies active in Russia, including TotalEnergies, Fortum/Uniper, and Wintershall DEA, until they withdraw from their operations, noting that BP, Shell, Equinor, and ExxonMobil have already done so.
• The letter argues that fossil fuel dependence is the common root of both the war in Ukraine and human-induced climate change, and that financial actors must transition to renewables, energy savings, and demand reduction to achieve carbon neutrality.

APA

Pinson, L. (2022). Open letter to Philippe Brassac, CEO of French bank and asset manager Crédit Agricole. Reclaim Finance. https://reclaimfinance.org/site/en/2022/03/02/letter-to-credit-agricole-break-ties-with-the-russian-fossil-fuel-industry/

Chicago

Pinson, Lucie. Open letter to Philippe Brassac, CEO of French bank and asset manager Crédit Agricole. Reclaim Finance, 2022. https://reclaimfinance.org/site/en/2022/03/02/letter-to-credit-agricole-break-ties-with-the-russian-fossil-fuel-industry/.

Wikipedia

{{cite press release |last1=Pinson |first1=Lucie |title=Open letter to Philippe Brassac, CEO of French bank and asset manager Crédit Agricole |publisher=Reclaim Finance |date=2 March 2022 |url=https://reclaimfinance.org/site/en/2022/03/02/letter-to-credit-agricole-break-ties-with-the-russian-fossil-fuel-industry/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{pinson2022open, author = {Pinson, Lucie}, title = {{Open letter to Philippe Brassac, CEO of French bank and asset manager Crédit Agricole}}, publisher = {Reclaim Finance}, year = {2022}, month = mar, url = {https://reclaimfinance.org/site/en/2022/03/02/letter-to-credit-agricole-break-ties-with-the-russian-fossil-fuel-industry/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }