Crédit Agricole

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Regulatory requirements
Ensure LegalityCSR page
A group with a long-standing commitment
For over 20 years, Crédit Agricole has demonstrated its involvement through its various commitments, many of which have focused on the development of “climate finance”.
Signatory of the:
• United Nations Global Compact since 2003;
• Equator Principles since 2003;
• Principles for Responsible Investment since 2006;
• Diversity Charter since 2008;
• Sustainable Purchasing Charter since 2010;
• Charter for the energy efficiency of commercial buildings since 2013;
• Science Based Targets since 2016;
• RE 100 since 2016.

Forestry policy: The Bank will not participate in transactions linked to this sector if aware of the following
characteristics:
 illegal operation;
The policy requires compliance with national laws and international regulationswell
No Corruption and Tax EvasionFight against corruption page
(...) Crédit Agricole Group obtaining ISO 37001 certification for its anti-corruption management system. It is the first French bank to comply with this international standard.
The bank has earned a certification for its policies to fight corruption, however, these could not be found on the website. Neither could policies on tax evasion/avoidancepartly
Ensure ESIA for mills and plantationsForestry policy
The Bank will analyze every transaction linked to the Forestry and Palm Oil sector according to the following criteria:
Capacity and commitment of the project or client to manage environmental and social risks and engage with stakeholders:
 quality of the environmental and social impacts assessment;

In particular, the Bank will consider whether the assets of the clients are certified (FSC, national certification endorsed by PEFC, RSPO as the case may be). If the client has not committed to a plan targeting the certification of most of its assets within a reasonable period of time, the Bank will expect them to demonstrate implementing an impact assessment and management system of equivalent stringency and covering all the criteria listed above.
Though the policy mentions analysis of the ESIA, it does not clearly require one for all projects, especially for those where it is not legally required by the host country. It also accepts certification as a proxy for an ESIA. However, this does not cover pulp mills.partly
Social requirements
Ensure FPICForestry policy: The Bank will not participate in transactions linked to this sector if aware of the following characteristics: (...) when a significant non-compliance risk has been identified, unless it has received according to its own judgment, a satisfactory reply concerning: (...) - public consultation or, when necessary, consent from affected indigenous peoples;The policy requires FPIC, 'when necessary', and it does not explain what that means. There are also no details about requirements for the FPIC procedurespartly
Respect Human RightsForestry policy: The Bank will not participate in transactions linked to this sector if aware of the following
characteristics: (...) when a significant non-compliance risk has been identified, unless it has received according to its
own judgment, a satisfactory reply concerning: (...)  the IFC Performance Standards3 (or similar standards when an export credit agency or a
multilateral institution is involved in the financing) or the Environment, Health and Safety
Guidelines, in particular with respect to establishing an ESMS4, protection of the fundamental
rights of the workers, forced displacement of population, rehabilitation and closure plans,
biodiversity conservation, impact on critical natural habitats, consent from Indigenous
People5,protection of cultural heritage;
The policy references IFC and protects human rights well.well
Respect Indigenous rights and customary land use rightsForestry policy: The Bank will not participate in transactions linked to this sector if aware of the following
characteristics: (...) when a significant non-compliance risk has been identified, unless it has received according to its
own judgment, a satisfactory reply concerning: (...)  the IFC Performance Standards3 (or similar standards when an export credit agency or a
multilateral institution is involved in the financing) or the Environment, Health and Safety
Guidelines, in particular with respect to establishing an ESMS4, protection of the fundamental
rights of the workers, forced displacement of population, rehabilitation and closure plans,
biodiversity conservation, impact on critical natural habitats, consent from Indigenous
People5,protection of cultural heritage;
See IFC - it partly protects against violations of indigenous rights and customary rightspartly
No forced resettlementForestry policy: The Bank will not participate in transactions linked to this sector if aware of the following
characteristics: (...) when a significant non-compliance risk has been identified, unless it has received according to its
own judgment, a satisfactory reply concerning: (...)  the IFC Performance Standards3 (or similar standards when an export credit agency or a
multilateral institution is involved in the financing) or the Environment, Health and Safety
Guidelines, in particular with respect to establishing an ESMS4, protection of the fundamental
rights of the workers, forced displacement of population, rehabilitation and closure plans,
biodiversity conservation, impact on critical natural habitats, consent from Indigenous
People5,protection of cultural heritage;
The policy references IFC which partly protects this criteria.not
Environmental Requirements
No forest degradation and deforestationForestry policy: The Bank will not participate in transactions linked to this sector if aware of the following
characteristics:
 conversion of lands having a high conservation value with respect to biodiversity (protected
area listed under the categories I to IV of IUCN, primary forests or High Conservation Value
Forests according to FSC, sites listed per the Alliance for Zero Extinction, peatlands);
 location within wetlands of international importance covered by the Ramsar Convention5,
 location within a site listed on the UNESCO World Heritage list,
It protects at least 5 of the criteria: * HCV; * Primary forests; * HCS; * Unesco and Ramsar sites; * habitats for protected specieswell
Protect endangered speciesForestry policy: The Bank will not participate in transactions linked to this sector if aware of the following
characteristics:
 conversion of lands having a high conservation value with respect to biodiversity (protected
area listed under the categories I to IV of IUCN, primary forests or High Conservation Value
Forests according to FSC, sites listed per the Alliance for Zero Extinction, peatlands);
 location within wetlands of international importance covered by the Ramsar Convention5,
 location within a site listed on the UNESCO World Heritage list,
it prohibits conversion of land where endangered species occur, but it does not explicitly prohibit trade in IUCN listed speciespartly
No high-risk speciesForestry policy: The Bank will analyze every transaction linked to the Forestry and Palm Oil sector according to the
following criteria:. Environmental commitments:  introduction of invasive species and management of pesticides
The commitment of the client on the introduction of invasive species is analysied, but there are no minimum requirements, no prohibition for the use of GE. It also does not explicitly cover third party operationspartly
No fireNo publicly available policies or documentation were found that cover this criteria.not
Protect peatForestry policy: The Bank will not participate in transactions linked to this sector if aware of the following
characteristics:
 conversion of lands having a high conservation value with respect to biodiversity ( (...) , peatlands);
It does not prohibit financing to plantations that are already established on peatlands (where no further conversion is happening)partly
No persistent pollutionForestry policy: The Bank will analyze every transaction linked to the Forestry and Palm Oil sector according to the
following criteria:. Environmental commitments:  introduction of invasive species and management of pesticides
There are no clear requirements regarding pesticides nor regarding the technology used in the millnot
Corporate association / scope of the policy
Corporate association / scope of the policyForestry and Palm oil policy: The present policy (the “Policy”) applies to all financings and investments activities and more broadly involvements of Crédit Agricole CIB (the “Bank”) that directly relate to the forestry and palm oil sector.
As part of the Policy, the forestry and palm oil sector covers oil palms plantations and timber harvesting as well as palm oil production. Trading and usage of wood and palm oil are not covered by the present Policy.
As trading in wood is not included, the policy does not cover sourcing from third parties. It also does not mention the application to parent, sister nor subsidiary companies, nor does it clearly apply to pulp mills.not