Crédit Mutuel Alliance Fédérale, which brings together 14 of the 18 regional federations of the group and the CIC, hardened its position on Thursday on companies developing new oil and gas projects, a form of concretization of a commitment made at the end of 2021. “From the
second half of 2024, Crédit Mutuel Alliance Fédérale will stop its financing and interventions with companies that continue to develop new oil or gas exploration and production projects
, ”explains the bank in a press release.
To discover
LIVE - Pension reform: follow the 12th day of mobilization against the reform
Concretely, the group will stop financing any company whose production increases from one year to the next.
Director of the environmental NGO Reclaim finance, Lucie Pinson however points out " the absence of
precise
requirements " on the "
level of drop in production
" and on the possibility for the companies concerned to sell oil or gas assets in order to meet to these requirements.
A promise made in October 2021
This announcement is the fulfillment of a promise dating from October 2021, when Crédit Mutuel Alliance Fédérale had undertaken to no longer directly finance new projects.
He had also promised to “
discuss with the companies in his portfolio in order to convince them to give up developing new oil and gas fields after a short deadline, under penalty of being excluded from future support
”.
This new commitment comes as several NGOs, including Reclaim Finance, published a report on Thursday on the responsibility of French banks in global warming, "
main European supporters of the expansion of fossil fuels
" last year.
According to this study, the top nine oil and gas companies in the United States and Europe, including TotalEnergies, BP and Eni, collectively received $11.9 billion in financing from French banks last year.
A study with "
fanciful
" figures, according to the French Banking Federation (FBF).
