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.

These policies also reflect the ambitions of Crédit Mutuel Alliance Fédérale and its entities to support the financing of the energy transition and to develop lasting business relationships.

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.

Coal - Hydrocarbons sectoral policies Consult [PDF - 413 ko]

Crédit Mutuel Alliance Fédérale is strengthening its sectoral policies against the use of coal and unconventional hydrocarbons and to support the energy transition of the economy and is enacting the decision to reduce to zero the exposure of its finance and investment portfolios to coal by 2030 for all countries in the world.

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 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.

Concerning unconventional hydrocarbons and in order to align its activities with a trajectory compatible with the Paris Agreement, Crédit Mutuel Alliance Fédérale has decided to stop financing projects related to the exploration, production, transport infrastructure or infrastructure for the conversion of shale oil or shale gas, oil from oil sands, heavy and extra-heavy oil and oil extracted in the Arctic.

Also, over the next few months, Crédit Mutuel Alliance Fédérale will perform an analysis to determine the criteria applicable to companies to encourage them to gradually abandon unconventional hydrocarbons. It intends to exclude all financing of companies that do not have a credible public plan, including precise dates, for the exit from unconventional hydrocarbons.

Mining Policy Consult [PDF - 415 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 - 496 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 - 420 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.

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 - 938 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