When the Equator Principles were launched in 2003, Crédit Agricole CIB became the first French bank to sign them. In a few short years, the Equator Principles have become the benchmark for responsibility in project finance. This commitment to comply with certain social and environmental requirements is a crucial element of Crédit Agricole Group's corporate responsibility policy. It involves Crédit Agricole CIB's project finance teams on a day-to-day basis, and gives an active role in the decision process to a variety of actors.

The record of the Equator Principles

Crédit Agricole CIB is a founding bank of the Equator Principles (June 2003). In a few years, these principles have become a market standard, a benchmark of the best social and environmental practices in project finance. Over 60 financial institutions now subscribe to these principles, and compliance with them has become a prerequisite for success in international syndications of the most sizeable deals.

Crédit Agricole CIB has noticed steady improvement in the quality of the projects it has studied, showing that project promoters have been integrating the principles right from the idea stage. The Equator Principles have materially improved analysis and management of environmental and social impacts of projects at the global level, yet without leading to an increase in the number of deals turned down by the Equator Banks.

However, Crédit Agricole CIB is aware of the progress that still can and must be achieved. It participated actively in developing rules for governance in cooperation with the Equator Banks and in setting up various working groups. In particular, Crédit Agricole CIB is involved in the creation of good pratices methods in order to apply the Equator Principles to other types of financings than project financings.