Crédit Agricole CIB becomes partner to Green Climate Fund
Crédit Agricole CIB is the first French bank to be accredited by the Green Climate Fund. The bank can now participate in projects to reduce emissions and adapt to climate change in developing countries.
Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) has become the first French bank and one of three global commercial banks to be accredited by the Green Climate Fund (GCF). This accreditation allows the bank to participate in GCF-financed projects aimed at reducing greenhouse gas emissions and adapting to the impacts of climate change in developing countries.
Crédit Agricole CIB will now be able to offer its clients various ways to engage in green projects through the GCF. The partnership reinforces Crédit Agricole's commitment to sustainable development, including promoting good practices and participating in the energy transition.
The Green Climate Fund, established at the 2010 Cancun climate conference, is headquartered in Korea and began its first investments in 2015. The GCF relies on a network of approved financial institutions to deploy its resources and aims to approve $2.5 billion in investments annually until 2018.
Crédit Agricole CIB is the corporate and investment banking arm of the Crédit Agricole Group, one of the world's largest banking groups. The bank offers a range of services in global markets, investment banking, structured finance, and commercial banking.