Our societal project
In a context where the need to reinvent our consumption patterns has never been more pressing, we all have a decisive role to play in addressing the climate emergency and growing inequalities. As a major credit player, CA Personal Finance & Mobility can accelerate the transition to more sustainable, fairer consumption that leaves no one behind. We must make this our ambition to serve Crédit Agricole’s raison d’être: working every day in the interest of our customers and society. For this, we have made the choice to adopt a voluntary approach to become a committed company and to equip ourselves with a clear CSR strategy at the heart of our activities, which is part of the Crédit Agricole Group’s societal project. In this way, we are putting our industrial tool at the service of the cause in order to make CSR a lever of progress for our customers, a driver of the growth of our company and a source of pride for our employees.
While 78%(1) of French people are in favor of more responsible consumption, 59%(2) find it difficult to make ends meet. To support them, we are committed to developing solutions for mobility, home energy renovation and the circular economy that are accessible to as many people as possible. In addition, we work for equal opportunities, within our group and as a key player in solidarity for our territories. And to make tomorrow’s world more inclusive, we have created an endowment fund to support initiatives to facilitate young people’s access to the working world.
This year, while structuring our commitment strategy, we have focused our action primarily on electric – an area we aspire to lead in –, notably by developing leasing. This increasingly popular form of financing supports a transition to a user-driven economy that promotes repair and second-hand. Leasing also opens prospects for financing other types of products, although the various sectors have yet to be developed. This is an issue we are working on with our partners, because only by acting together can we find solutions that benefit as many people as possible.
In this context of change marked by digitalization, changes in consumption patterns and the energy transition, we have become Crédit Agricole Personal Finance & Mobility, a new name to reflect our ambitions. That is why, in this report we aim to transparently present our committed company approach, our objectives, our achievements and what remains to be done to reach more sustainable consumption.
(1) 16th GreenFlex-ADEME responsible consumption barometer 2023.
(2) Observatory on Responsible Consumption 2023 Citeo x L’ObSoCo
In france
Worldwide
Becoming a committed company
At Crédit Agricole Personal Finance & Mobility, we have chosen a voluntary approach based on commitment. Based on 4 commitments that are our compass and guide our actions in the long term:
Supporting all our customers in each moment of life in complete transparency and ethics while respecting their choices.
-> Being a universal and ethical actor at the service of our clients’ projects
Accelerating social and energy transitions by offering solutions with positive impact.
-> Being a player in the evolution of society
Offering each of our customers and partners modern solutions by innovating in our offers and tools and by remaining attentive to society.
-> Being an innovative and modern player
Enabling each of our employees to achieve professional fulfillment in the service of customers and society.
-> Being an employer of choice
Constructing the committed company approach
2021-2022 -> Launch of the approach
- Definition of the 4 commitments, ambitions, objectives and associated indicators in line with the Crédit Agricole Group’s raison d’être
2023 -> Déploiement de la démarche
- Appropriation of the committed company by CA Personal Finance & Mobility entities
- Launch of a certification process for Agos, Sofinco in France and Credibom
2024 -> Amplification of the approach
- Finalization of the deployment to all entities
- Launch of certification for Creditplus, Drivalia, Sofinco in Spain
- Launch of a stakeholder committee
- Amplification of the power of our actions to feed our commitments
Working every day in the interest of our customers and society” is the raison d’être we share within the Crédit Agricole Group. To implement it, Crédit Agricole has defined a group project, consisting of 3 parts: the client project, the human project and the societal project. Within CA Personal Finance & Mobility, we apply these essential principles to combine social usefulness and universality. This is what we call the committed company. We started from the status of mission-driven company that exists in France, with the will to apply its operating principles to all our entities. We reiterate the key concepts, in particular the creation of a stakeholder committee and the introduction of a recognized certification. Building on this approach, we have defined 4 commitments that form our compass in a longterm vision. These commitments help us define our overall strategy, beyond our financial goals. They reflect what we want to be for our customers, our employees and society: a more sustainable and inclusive company.
In france
Worldwide
Reinventing our consumer patterns is a necessity in the face of the climate emergency and growing inequalities. Whether in mobility, housing or equipment, we implement solutions to support transitions toward more sustainable solutions, for as many people as possible.
Ambition #1: Supporting the move toward low-carbon mobility with more responsible and inclusive offers
| Strategy | Objectives | Action plan |
|---|---|---|
An integrated mobility offer Numerous mobility and financing solutions have emerged in the automotive sector in recent years: car-sharing, short-term rental, rental financing solutions, subscription, etc. We have integrated them all and have taken many actions to rapidly scale them up. In this way, we are supporting as much as possible the movement toward the electric vehicle needed to decarbonize the economy. | - Reduction in the carbon footprint of our car financing by 2030 (vs. 2020) -50 % - 1 new electric vehicle financed out of 3 by 2025 - Becoming the leader in electric mobility in Europe | #1 A full range of rental products: long-term rental (LTR), lease with option to purchase, leasing for all durations, subscription, etc. #2 A pan-European geographical footprint, optimized digital tools and services and recognized expertise in car financing #3 Partnerships with leading electric vehicle manufacturers #4 A comprehensive catalogue of related and innovative services such as electric charging stations, vehicle delivery, warranty extensions and maintenance contracts |
Ambition #2: Making housing energy renovation works accessible to as many people as possible
| Strategy | Objective | Action plan |
|---|---|---|
Accelerating the housing energy transition Housing energy renovation is a major challenge: 36% of energy-related greenhouse gases in the European Union come from the building stock(1). In France, with nearly 5 million heat sieves and one of the strictest regulations in Europe, the government offers numerous aid measures to accelerate the energy transition. The rising cost of energy is also driving consumers to reduce their bills by improving the insulation of their homes. However, energy renovation can be very costly and substantial market and supply developments hold consumers back. Based on our knowledge of the sector, we will strengthen our support at all stages of our customers’ project in order to facilitate understanding and encourage them to move quickly. | - €1 billion in financing for energy renovation by 2025 | #1 Developing partnerships in the energy renovation market #2 Making credit accessible to as many people as possible and offering solutions adapted to our customers’ needs |
(1)Source: [Infographic] Financing: what Europe is doing for the energy performance of buildings? - Touteleurope.eu.
Ambition #3: Promoting access to more sustainable and second-hand products
| Strategy | Objective | Action plan |
|---|---|---|
Supporting the development of the circular economy With a growing market for more sustainable and second-hand products, consumers’ awareness of the financial and environmental impact of this choice is clear. Supporting them in these new uses and promoting their development is essential to enable us to strengthen our commitment to boosting, more responsible consumption. That is why we are exploring the establishment of partnerships with refurbishment players or new equipment distributors to develop innovative solutions that encourage more sustainable choices or repair. | - Establishment of new partnerships to promote more sustainable consumption | #1 Setting up partnerships with circular economy players to develop our presence in the rental, refurbishment and secondhand market #2 Joining the second-hand vehicle market, while ensuring the traceability of financed goods #3 Encouraging more sustainable consumption by developing innovative solutions with our historical partners |
Ambition #4: Reducing our operating carbon footprint and that of our financing activities
| Strategy | Objectives | Action plan |
|---|---|---|
A structured approach 99% of our overall carbon footprint is made up of our financing, 80% of which is automotive financing. On this basis, we defined our reduction trajectory for 2050 as part of the Net-Zero Banking Alliance to which the Crédit Agricole Group has adhered. We have also calculated our operating carbon footprint since 2019 using the ADEME carbon review methodology for all our entities. We have made reduction commitments to 2025 and 2030 and have established action plans to give us the means to do so. | - Reduction of the carbon intensity of our car financing by - 50 % by 2030 vs. 2020 - Reduction of our operating carbon footprint by - 50 % in 2030 vs. 2019 | Financing footprint #1 Reducing the carbon intensity of our portfolio by promoting electric mobility Operating footprint #2 Assessing the footprint of our service purchases more accurately #3 Improving our operational energy efficiency #4 Electrifying our fleet of vehicles |
Balance
| Objectives | end of 2023 | end of 2025 | end of 2030 |
% of new electrified vehicles financed (electric and hybrid) | 42% | 50% | |
| % of new 100% electric vehicles financed | 32% | 33% | |
| Production dedicated to energy renovation | €744m | €1bn | |
| % reduction in operating emissions vs. 2019 | 11 %(1) | 25 % | 50% |
| Carbon intensity of vehicles financed in gCO2/km | 158 gCO2/km | 139 gCO2/km | 92,5 gCO2/km |
(1) equivalent scope
In france
Worldwide
Guided by our corporate purpose “working every day in the interest of our customers and society”, we cannot consider supporting consumers, particularly in the context of the ecological transition, without doing so in a fair, equitable and inclusive manner. This vision also drives our company to act as a responsible employer, committed to diversity and equal opportunities and supporting citizens’ initiatives to strengthen social cohesion.
Ambition #5: Making credit accessible to as many people as possible and offering solutions adapted to our customers’ needs
| Strategy | Action plan | Fundamentals |
Adapting to different borrower profiles Making credit more accessible means making the offer available through all channels and in a simple way, presenting it to as many customers as possible, taking their situation into account, and including appropriate pricing. We are implementing concrete actions on these three dimensions in order to be useful to as many people as possible, in line with the DNA of our Group, that of a bank firmly established in the territories and committed to inclusion. Making credit available to as many people as possible is also an intrinsic way of serving our objectives of supporting transitions and enabling everyone to equip themselves with more sustainable solutions. | #1 Expanding online credit to make financing solutions accessible to as many customers as possible #2 Leveraging open banking to improve our grant scores and better target our clients #3 Making tailored financing offers
| - The Crédit Agricole Group model based on social usefulness and universality - A presence in 22 countries to support our clients, everywhere - A recognized capacity for innovation |
Ambition #6: Supporting our most vulnerable customers and raising budgeting education awareness
| Strategy | Action plan | Fundamentals |
Supporting our customers in a responsible way The need to take consumer protection measures is inherent in financing business lines. Moreover, consumer credit is strictly regulated, particularly in France. Beyond the legal framework, our raison d’être and our values lead all our employees to be ethical and responsible toward our customers and to protect them in the event of a difficult situation or risk. Supporting our customers and being responsible also means knowing how to refuse a loan to those who may not be able to repay it. It is to meet these protection requirements that we collect information during the application process. In 2023, in the face of the economic crisis, inflation and rising interest rates, we stepped up our prevention and support measures. | #1 Engaging in prevention and offering personalized support to vulnerable customers #2 Raising awareness of budgeting education to avoid situations of over-indebtedness
| - CA Personal Finance & Mobility Code of Conduct - The Crédit Agricole Group’s Ethics Charter |
Ambition #7: Acting for equal opportunities: promoting the integration of young people into the company and boosting gender equality and diversity
| Strategy | Action plan | Fundamentals |
Building a work environment for all Acting for equal opportunities means being committed to gender equality and embracing diversity in all its forms. We implement agreements that set a favorable framework for everyone to find their place in the company and conduct regular awareness-raising and training actions with all our employees on the issues of inclusion and diversity. We pay particular attention to women at all levels of management and we implement Crédit Agricole’s youth plan to attract young people to our jobs and help them grow. We also address the specific needs of diverse groups, such as lone parents, disabled people and senior workers, to ensure successful integration into the company and optimal working conditions for all. | #1 Being recognized as a responsible employer #2 Committing to diversity #3 Developing gender equality #4 Supporting young people
| - Gender equality index 93/100 French scope - 32.1%women at the GEC - 854 hires in 2023 (excluding GAC Sofinco, Hiflow and Leasys) - 10% mobility in France in 2023 - CA Personal Finance & Mobility in France, Credibom in Portugal and Sofinco in Spain have received the Best Workplaces label for 2024 |
Ambition #8: Being a key player in solidarity for territories, especially for young people
| Strategy | Action plan | Fundamentals |
Building tomorrow’s world together We have created a Department for Citizen Commitment to structure and coordinate the initiatives we are taking to address current societal challenges, including access to employment for young people and solidarity. By helping young people acquire the skills that the job market will need tomorrow, we can ensure their future in the workplace while reducing access inequalities. Young people are invited to get directly involved in building their future and tomorrow’s economic world, in particular with the help of our employees who carry out skills sponsorship missions. It is also what being a responsible company means: enabling employees to commit themselves to society | #1 Supporting young people to prepare for tomorrow’s world #2 Promoting skills sponsorship and all solidarity actions
| In 2023, we created For Youth, an endowment fund to federate our entities and create a dynamic around youth. It supports youth entrepreneurship, education, preparation for tomorrow’s jobs, inclusion and mutual assistance between young people and seniors. |
Balance
| Our ambitions | Progress at end 2023 |
| Making credit accessible to as many people as possible and offering solutions adapted to our customers’ needs | Social leasing contracts in France: +2,000 |
| Supporting our most vulnerable customers and raising budgeting education awareness | Number of clients supported in France and Italy: 17,122 |
| Acting for equal opportunities: promoting the integration of young people into the company and boosting gender equality and diversity | Gender equality index (France): 93 / 100 |
| Being a key player in solidarity for territories, especially for young people | Number of skills sponsorship missions carried out via the “J’agis” platform: 126 |