SMR Our sector policies

Our sector policies

Our sector policies

The objective of sectoral policies is to define a set of rules for the operations proposed to companies operating in sectors with high greenhouse gas emissions but also with impacts on health and/or the environment.

Crédit Mutuel Alliance Fédérale implements a responsible policy in keeping with its mutualist values. Its ambition is to support its clients in the transformation of their business model and thus contribute to the fight against global warming, reduced biodiversity, and environmental degradation.

In addition, Crédit Mutuel Alliance Fédérale decided to reinforce the rules related to the application of its sector policies by creating specific analysis grids to each sector of activity. These analysis grids integrate counterparties’ non-financial ratings, which are analyzed when the decisions to grant banking and financial transactions are taken. Thus, Crédit Mutuel Alliance Fédérale values ethical business relationships and proposes to supplement the financial analysis of the companies financed with an objective analysis of their non-financial performance and more specifically of their commitment to environmental, social and governance issues.

In 2019, Crédit Mutuel Alliance Fédérale decided to reduce the exposure of its finance and investment portfolios to coal to zero by 2030 for all countries in the world. Crédit Mutuel Alliance Fédérale chose to stop financing projects, which are connected with exploration, production, transport infrastructure or transformation of certain types of oil.

In 2021, Crédit Mutuel Alliance Fédérale further decarbonizes its balance sheet, adopting an ambitious « Mobility » policy following its measures on coal and unconventional oil & gas.

Agriculture sectoral policies Consult – Agriculture sectoral policies [PDF - 644 ko]

Agriculture in France is of particular importance regarding the production of quality food and the management of rural areas in the country. The agricultural sector plays an essential role in tackling climate change and in the ecological transition, notably by reducing greenhouse gas emissions, increasing carbon storage capacity, managing inputs reasonably, taking into account animal welfare, improving natural resource management, and preserving biodiversity.

Crédit Mutuel Alliance Fédérale want to strengthen its action in the agricultural sector and its climate ambitions to become a major player in the ecological shift from agriculture to agro-ecology, which is aimed at ensuring the sustainability of agro-ecosystems.

Through this policy, and in keeping with its mutual values, Crédit Mutuel Alliance Fédérale has chosen to support farmers with strong measures:

  • A grant to finance the remaining cost of the carbon diagnostic1 to complete the Bon Diagnostic Carbone proposed as part of the French Recovery Plan2;
  • Financial support for the cost of certification for level 3 HVE (high environmental value) and organic farming environmental labels of excellence

These measures are aimed at encouraging farmers to invest in order to reduce their greenhouse gas emissions, improve carbon storage in soils and preserve biodiversity. In order to provide further support, the Prêts Transition (transition loans) range has been enhanced with an offer dedicated to the agricultural sector to encourage innovative projects by farmers and the investment needed to transform agriculture into agro-ecology.

Moreover, Crédit Mutuel Alliance Fédérale has integrated an objective environmental, social and governance (ESG) analysis of the action plans implemented by farmers, based on the Common Agricultural Policy (CAP)‘s cross-compliance principles, in its decisions to grant financing for banking operations in the agricultural sector. This is a committed approach that promotes the agro-ecological transition and is backed by constructive dialogue with farmers to better support them in their projects.

Crédit Mutuel Alliance Fédérale implements the present sector policy – agriculture sector – which falls within the framework of the Corporate and Social Responsibility (CSR) policy.

Mobility sectoral policy – transport by air, sea and roadConsult – Air transport [PDF - 698 ko] Consult – Sea transport [PDF - 626 ko] Consult – Road transport [PDF - 378 ko]

The aim of the Mobility sector policy is to ensure that the banking group finances only the most carbon-neutral assets. This incentivizing policy concerns the financing of transport by air (airlines and aircraft purchases), sea (shipbuilding and shipbreaking) and road (vans and trucks).

Air transport

Crédit Mutuel Alliance Fédérale and its subsidiaries will only grant finance for the latest generation of aircraft made by Airbus, Boeing, ATR, Embraer and Bombardier. To ensure that aircraft fleets are modernized, finance will only be provided for planes made in the last eight years. After 2025, this period will be reduced to five years. Similarly, Crédit Mutuel Alliance Fédérale will only finance companies whose fleet has an average age of 15 years or less, reducing to 12 years from 2025.

Sea transport

As a 2019 signatory to the Poseidon Principles via CIC, Crédit Mutuel Alliance Fédérale has set the target for its maritime transport policy of being below the International Maritime Organization (IMO)* curve by 2025.
Crédit Mutuel Alliance Fédérale will not finance any vessels that transport oil or unconventional gas.

Road transport

Crédit Mutuel Alliance Fédérale focuses its corporate financing in this area on leasing, lending and rail freight and passenger asset finance on vehicles with the lowest CO2 emissions. Only vans and trucks meeting or exceeding the Euro 6 standard are eligible. This is the first step in a program to facilitate the financing of new or used clean-energy vehicles for personal, business and farming customers by 2024, when low-emission zones come into force in large French cities.

Coal sectoral policies Consult [PDF - 632 ko]

From March 1, 2020, companies developing their activities in the coal sector will be excluded from all financial support throughout the entire value chain.

Generally, Crédit Mutuel Alliance Fédérale will cease supporting companies for which:

  • the annual coal production is greater than 10 million tons;
  • the installed capacity based on coal is greater than 5 gigawatts;
  • the share of coal in revenue is greater than 20 %;
  • the share of coal in the energy mix is greater than 20 %.

These criteria, reviewed annually are not cumulative. They are intended to totally eliminate the financing of energy derived from coal by 2030. They will be revised every year to become increasingly demanding.

Hydrocarbons sector policy (Oil & Gas)Consult [PDF - 614 ko]

Crédit Mutuel Alliance Fédérale has chosen to implement a responsible policy in line with its mutualist values. Its ambition is to support its clients in the transformation of their business model and thus contribute to the fight against climate change, the erosion of biodiversity, and the degradation of ecosystems.

In line with its commitments made in October 2021 to halt all financing of new exploration, production, infrastructure1 (oil and gas pipelines and storage units) or processing (oil refineries, gas liquefaction terminals) projects in the oil and gas sector, Crédit Mutuel Alliance Fédérale is reinforcing its approach and adopting restrictive thresholds in accordance with a defined schedule.

Crédit Mutuel Alliance Fédérale will refrain from providing banking and financial services to companies listed in the NGO Urgewald’s Global Oil & Gas Exit List (GOGEL) whose:

  • share of production of non-conventional hydrocarbons is higher than 25% from 1st January, 2023;
  • share of production of non-conventional hydrocarbons is higher than 20% from 1st January, 2024.

This voluntary trajectory is also in line with the objective of carbon neutrality by 2050.

Mining Policy Consult [PDF - 414 ko]

Policy applicable to all financial transactions intended for mining companies irrespective of the mining resource and method of extraction employed. This covers the entire sector from ore exploration to shipping.

  • Commitment to no longer intervene in the financing or in investments that are directly assigned related to the development, construction or extension of mining or metallurgical facilities if one of the following characteristics is present : project for asbestos mines, small-scale mines, critical impact on a protected zone or a wet zone that is on the Ramsar Convention list, and UNESCO world Heritage sites.

Civil Nuclear Energy Policy Consult [PDF - 521 ko]

Policy governing operations and advice provided to companies in the civilian nuclear sector. Crédit Mutuel Alliance Fédérale ensures that all requests fall within the framework of the laws in force and comply with the standards and/or recommendations issued by independent organizations in the nuclear sector.

  • An internal decision-making process is defined and follows a reference framework which notably takes into account the host country, the type of financing of the projects in question and the international financing rules.

Defense and Security Policy Consult [PDF - 574 ko]

Crédit Mutuel Alliance Fédérale’s sector policy related to operations with defense and security companies recognizes the existence of conventions, treaties, agreements and regulations specific to the arms industry.

  • Crédit Mutuel Alliance Fédérale refuses to take any part in controversial weapons operations and respects drastic principles regarding unconventional weapons as well as countries affected by such funding.

Sustainability Policy Consult [PDF - 770 ko]

The information contained in this policy is intended to explain how Crédit Mutuel Alliance Fédérale, for its authorised entities within the European Union, undertakes, in the context of its financial savings solutions, investment advisory and insurance advisory activities, to meet the requirements of Regulation (EU) 2019/2088, known as the Sustainable Finance Disclosure Regulation (SFDR), on the disclosure of sustainability information in the investment decision-making and advisory process for funds and unit-linked life insurance. The scope of the regulation defines the financial products covered.

Private Banking Policy Consulter [PDF - 102 ko]

Policy applying to all Crédit Mutuel Alliance Fédérale entities with private banking activities. It imposes rules of good conduct and ethics (no establishment in sensitive countries, strict compliance with the Know Your Customer KYC procedure, tax compliance, etc.).

  • A supplement on "new business relationships" to clarify relations with non-resident clients, which are intended to set an example with regard to local laws and regulations and the requirements of the anti-money laundering and anti-terrorist financing (AML/CFT) regime: control of sensitive countries, offshore structure.

Policy of engagement in favour of fragile or vulnerable clients Consulter [PDF - 929 ko]

A policy that applies to all networks in order to provide all the necessary attention to support our customers and members who are going through difficult life situations, whether structural, social or economic. The diversity of situations of fragility can lead to financial precariousness requiring the implementation of a strategy that listens to the populations concerned.

  • A system has been implemented to promote banking inclusion among customers identified as fragile or vulnerable. The offers and services proposed to these customers are adapted to each situation. These include financially fragile customers and vulnerable customers (protected adults and people facing the death of a loved).

Consumer Credit Policy Consult [PDF - 121 ko]

Policy guiding Crédit Mutuel Alliance Fédérale's consumer credit activities in accordance with the values and rules of professional ethics and deontology. The framework for exercising the consumer credit business, particularly with regard to pre-contractual and contractual information and training for credit intermediaries, has been strengthened.

  • Crédit Mutuel Alliance Fédérale has set up a strict framework to ensure that the transactions financed comply with local and European regulations on the processing of personal data and the fight against money laundering and the financing of terrorism (LCBT). In addition, an application grid based on the six rules of the Consumer Credit policy has been drawn up for the entities concerned. The Board of Directors approves the completion of this grid by the entities concerned.

Procurement policy Consult [PDF - 198 ko]

The acquisition of goods and/or services constitutes a management act and is part of the operational application of Crédit Mutuel Alliance Fédérale’s strategy. This policy incorporates economic, quality and respect of technical requirements criteria as well as ESG factors.

  • Crédit Mutuel Alliance Fédérale promotes relationships with suppliers and/or service providers whose contracts include specific clauses related to compliance with the reference texts on human and labor rights and the strict respect of the principles relating to corruption in all its forms.

In addition, Crédit Mutuel Alliance Fédérale has chosen to reinforce this initiative by requesting that all of its suppliers sign a sustainable and responsible purchasing charter incorporating the internal commitments of its procurement policy.

Suppliers Policy Consult [PDF - 230 ko]

Within the sectoral policies framework, all Crédit Mutuel Alliance Fédérale entities ask their suppliers and/or service providers to commit to good practices included in the supplier charter and to apply these within their employees and subcontractors.

  • Respect human rights and fundamental freedoms, the health and safety of people and the environment.
  • Respect the rights of employees
  • Comply with the applicable legislation on the protection of personal data

* The Poseidon Principles, which provide a framework for assessing and reporting on the alignment of financial institutions' shipping portfolios with the targets set by the International Maritime Organisation (IMO) in order to reduce greenhouse gas emissions by 50% by 2050.

1 Except application of the maritime sector policy [PDF - 626 ko].