Questions écrites à Crédit Agricole Assemblée générale 2021

The document outlines eight key demands for Crédit Agricole to align its financial activities with the 1.5°C climate goal. These include ending support for coal projects and companies like Glencore and PGE, divesting from Fortum due to pro-coal lobbying, and ceasing all financing for hydrocarbon development, specifically unconventional oil and gas and projects in the Arctic and Mozambique. It also calls for the bank to vote against Total's climate strategy and adopt a zero-deforestation policy for imported soy, particularly concerning the Cerrado region.

• Crédit Agricole is accused of violating its own coal policy by providing financing to companies involved in new mine and power plant projects, specifically Glencore, PGE, and KEPCO, between the policy's adoption and January 2021.
• The bank's current coal exclusion policy is criticized for ignoring over 60% of assets managed 'passively' by its subsidiary, Amundi, a gap that may widen following the acquisition of Lyxor.
• Between 2016 and 2020, Crédit Agricole provided 64 billion US$ in financing to the oil and gas industry, with nearly 20 billion US$ occurring in 2020 alone.
• The bank has provided over 20 billion US$ in financing to unconventional oil and gas since the COP21, including over 6 billion US$ in 2020, despite existing sectoral policies for the Arctic and oil sands.
• Despite excluding direct oil project financing in the Arctic since December 2017, Crédit Agricole provided nearly 1.4 billion US$ between 2016 and 2020 to companies active in the region, with 843 million US$ in 2020.
• Crédit Agricole is identified as the largest financier and second-largest shareholder of Total, having invested nearly 9.7 billion US$ and granted 7.3 billion US$ in loans between 2016 and 2020.
• The bank is involved in gas developments in Mozambique, having participated with 300 million US$ in Total's Mozambique LNG onshore project in 2020 and acting as a financial advisor for ExxonMobil's Rovuma LNG project.
• Between 2016 and 2019, Crédit Agricole provided nearly 500 million dollars in financing to the four main soy traders (ADM, Bunge, Cargill, and Louis Dreyfus), who are linked to deforestation in the Cerrado.

APA

Reclaim Finance (2021). Questions écrites à Crédit Agricole Assemblée générale 2021. https://reclaimfinance.org/site/wp-content/uploads/2021/05/Credit-Agricole-–-questions-ecrites-2021.pdf

Chicago

Reclaim Finance. Questions écrites à Crédit Agricole Assemblée générale 2021. 2021. https://reclaimfinance.org/site/wp-content/uploads/2021/05/Credit-Agricole-–-questions-ecrites-2021.pdf.

Wikipedia

{{cite press release |author=Reclaim Finance |title=Questions écrites à Crédit Agricole Assemblée générale 2021 |date=2021 |url=https://reclaimfinance.org/site/wp-content/uploads/2021/05/Credit-Agricole-–-questions-ecrites-2021.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{reclaimfinance2021questions, author = {{Reclaim Finance}}, title = {{Questions écrites à Crédit Agricole Assemblée générale 2021}}, publisher = {Reclaim Finance}, year = {2021}, url = {https://reclaimfinance.org/site/wp-content/uploads/2021/05/Credit-Agricole-–-questions-ecrites-2021.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }