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Company Response

22 Jul 2019

Author:
Crédit Agricole

Crédit Agricole response

…Please find below our analysis and our answer to these allegations. The funding from Crédit Agricole Group concerns three traders and no producer. Crédit Agricole has developed a system to assess and manage the risks arising from the environmental and social impacts relating to both transactions and customers (for the Corporate Investment Banking activity), by factoring in the main sustainable development issues, i.e. combating climate change, biodiversity protection and respect for human rights. According to Amazon Watch, Louis Dreyfus is the only corporate for which our position is significant. Our opinion is positive on this corporate which communicates on a very pro-active CSR policy. Louis Dreyfus is actively involved in responsible sourcing initiatives ("responsible soy" policy, including strong commitments to non-deforestation and respect for human rights of workers/ founding member of the Soft Commodities Forum whose aim is to formalize a common reporting framework and monitoring on soy supply chains) and has committed not to buy soy from land recently cleared. We are therefore comfortable with the financing we provide to the companies mentioned in the Amazon Watch report…

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