Pre-AGM decryption ↓
In 2021, Crédit Agricole pledged to achieve carbon neutrality by 2050 compatible with a +1.5°C trajectory and declared itself as a “green bank”. However without actions, words are just words: we revealed a few weeks ago that Crédit Agricole massively supports oil and gas expansion, while the International Energy Agency in its Net Zero scenario (1) draws as a red line the end of new fossil fields and infrastructures as of now in order to limit global warming to +1.5°C. Several opportunities are coming up for Crédit Agricole to align its oil and gas policy with its climate commitments: the Annual General Meeting on May 24th and the announcement of its strategic plan on June 22nd. Crédit Agricole must respond to the recent Intergovernmental Panel on Climate Change (IPCC) findings by announcing the end of its support for oil and gas expansion.