Montrouge, FRANCE, 25-11-2015 — /EuropaWire/ — Crédit Agricole SA today commits to invest EUR 2 billion in high quality Green Bonds, Social Bonds or Sustainability Bonds by end of 2017 as part of its liquid asset buffer, subject to market conditions.
Green Bonds are fixed income securities allocated to environmental projects or activities explicitly including an environmental objective. Social Bonds are earmarked to social-related activities, generally linked to improving access to basic goods or services. Sustainability Bonds combine both features.
This new commitment cements Credit Agricole leadership in the Green Bond market. Crédit Agricole Corporate and Investment Bank is a world leader in the Green Bond market.The bank has arranged more than EUR 22 billion of Green Bonds, it was the sole European bank to co-draft the Green Bond Principle, and remains an active Executive Committee member. Credit Agricole CIB has also issued more than EUR 1.2 billion of Green Bonds since 2012. Credit Agricole CIB is the first commercial bank to be a leading arranger, an investor and a regular issuer in this market.
This new commitment also underlines the consistency of the bank on climate related topics. The bank was a founding member of the Equator Principles and was among the first banks worldwide to make the decision to no longer finance coal mining projects or companies specialized in this sector, or coal fired power plants located in high revenue countries.
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SOURCE: Crédit Agricole