Case study: How Crédit Agricole works with its clients and customers to encourage sustainable practices
The Crédit Agricole Group caters to 54 million customers and employs 154,000 individuals across 46 countries. Its universal banking model, centered on customer focus, integrates its retail banks with specialized business divisions. At the core of this model are the Regional Banks, LCL, and its international retail banks, which leverage the Group’s expertise in providing a comprehensive range of financial products and services to various customer segments both in France and abroad. Crédit Agricole is a signatory of the Principles for Responsible Banking (PRB) and is, accordingly, working with its clients and customers to encourage sustainable practices and enable sustainable economic activities. Tweet This!
This case study is based on the 2024 PRB Implementation Report by Crédit Agricole, prepared in relation to its implementation of the PRB, that can be found at this link. Through all case studies we aim to demonstrate what ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.
Which Principles for Responsible Banking have been addressed?
The Principles for Responsible Banking addressed in this case are:
-
-
- Principle 3: Clients and Customers
- Principle 4: Stakeholders
-
Subscribe for free and read the rest of this case study
Please subscribe to the SustainCase Newsletter to keep up to date with the latest sustainability news and gain access to over 2000 case studies. These case studies demonstrate how companies are dealing responsibly with their most important impacts, building trust with their stakeholders (Identify > Measure > Manage > Change).
With this case study you will see:
-
-
- How Crédit Agricole proceeded with stakeholder identification and consultation, and
- How Crédit Agricole worked with its clients and customers to encourage sustainable practices and enable sustainable economic activities
-
Already Subscribed? Type your email below and click submit
Stakeholder identification and consultation
Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.
Stakeholder needs are continually evolving, and Crédit Agricole engages with them through various channels:
- Regular meetings with representatives from civil society, including professional organizations, associations, and NGOs.
- Customer feedback initiatives, including specialized questionnaires that track the Net Promoter Score (NPS), as well as input from economic stakeholders via participation in national and international working groups.
- Annual surveys to gather employee feedback.
- Proactive management of controversies by Crédit Agricole S.A.
- Ongoing engagement with shareholders and investors.
- Dialogue with the European Central Bank (ECB) and other regulatory authorities.
- Collaboration with business partners and suppliers through sustainable partnerships, an annual online satisfaction survey, and a hybrid format discussion day to encourage participation.
- Evaluation of stakeholder expectations identified through a national survey, which was initiated at the end of 2014 and is conducted biannually to track changes in stakeholder sentiments and emerging challenges.
While Crédit Agricole’s reputation and recognition remain stable, its positive image is increasing significantly, positioning it as the leading bank in the sector.
The findings from this consultation process, along with an analysis of key non-financial issues and controversies, have been organized into a materiality matrix that reflects two dimensions: the intensity of stakeholder expectations and the risk impact identified by Crédit Agricole S.A.
How did Crédit Agricole work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?
In its 2024 PRB Implementation Report Crédit Agricole reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:
In order to assist its customers in the environmental transition, the Crédit Agricole Group aims to help its business lines and subsidiaries move forward by incorporating climate transition considerations into their operations.
Regarding client transition plans for the bank’s financing portfolio, Crédit Agricole’s action plan for the oil and gas sector, which it unveiled during the climate workshop in December 2022, emphasizes enhanced communication with customers. This includes conducting an annual evaluation of their transition plans, which will be based on their selected reference scenario (compared to the 2050 Net Zero scenario) and their strategies for divesting from carbon energy while investing in decarbonization initiatives.
UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet
With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.
FBRH Principles for Responsible Banking (PRB) Assurance:
First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience
-
-
- FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
- FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
- FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.
-
The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.
References:
This case study is based on published information by Crédit Agricole, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:
https://www.credit-agricole.com/en/pdfPreview/203745
Note to Crédit Agricole: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.