Climate Finance Day 2021 : notes complémentaires sur les annonces de Crédit Agricole et de Bruno Le Maire

The document critiques the French government's request for financial actors to adopt carbon intensity trajectories by March 2022, noting it avoids previous failed demands regarding fossil fuel exits. It specifically analyzes Crédit Agricole's new commitments, arguing that its exclusions for Arctic projects are poorly defined and its 20% portfolio exposure reduction by 2025 is limited because it excludes equity and bond issuances.

• Finance Minister Bruno Le Maire called on financial actors to adopt a trajectory for reducing the carbon intensity of their portfolios by March 2022, a move the author suggests avoids the lack of response to 2020 demands regarding the exit from coal and unconventional fossil fuels.
• The author argues that focusing on carbon intensity will not produce immediate effects and does not necessarily require an immediate stop to support for companies developing new oil and gas projects.
• Crédit Agricole committed to stop direct financing of new projects in shale gas, shale oil, oil sands, and the Arctic, but the author notes the bank's definition of the Arctic is imprecise and excludes 80% of oil and gas fields in the AMAP zone recommended by the Observatoire de la Finance Durable.
• Crédit Agricole pledged to reduce its portfolio exposure to oil and gas companies by 20% by 2025, but this measure only covers loans and excludes equity and bond issuances, which represent approximately half of all financing.

APA

Reclaim Finance (2021). Climate Finance Day 2021 : notes complémentaires sur les annonces de Crédit Agricole et de Bruno Le Maire. https://reclaimfinance.org/site/wp-content/uploads/2021/10/Elements-danalyse-complémentaire-CFD-Analyse-complémentaire-Climate-finance-Day.pdf

Chicago

Reclaim Finance. Climate Finance Day 2021 : notes complémentaires sur les annonces de Crédit Agricole et de Bruno Le Maire. 2021. https://reclaimfinance.org/site/wp-content/uploads/2021/10/Elements-danalyse-complémentaire-CFD-Analyse-complémentaire-Climate-finance-Day.pdf.

Wikipedia

{{cite report |author=Reclaim Finance |title=Climate Finance Day 2021 : notes complémentaires sur les annonces de Crédit Agricole et de Bruno Le Maire |date=2021 |url=https://reclaimfinance.org/site/wp-content/uploads/2021/10/Elements-danalyse-complémentaire-CFD-Analyse-complémentaire-Climate-finance-Day.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{reclaimfinance2021climate, author = {{Reclaim Finance}}, title = {{Climate Finance Day 2021 : notes complémentaires sur les annonces de Crédit Agricole et de Bruno Le Maire}}, institution = {Reclaim Finance}, year = {2021}, url = {https://reclaimfinance.org/site/wp-content/uploads/2021/10/Elements-danalyse-complémentaire-CFD-Analyse-complémentaire-Climate-finance-Day.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }