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We have received your invitation to respond to a report published by Recourse and Trend Asia with a coalition of NGOs alleging that Crédit Agricole was one of the financers of the “Tangguh LNG Project” in Papua, Indonesia, which, according to the report "caused untold environmental destruction, human rights violations and increased GHG emission.”

For reasons of client confidentiality, Crédit Agricole does not comment on specific projects.

We would however like to remind you that Crédit Agricole Corporate & Investment Banking was the first French bank to adhere to the Equator Principles and to contribute to their launch in 2003. Under these principles, it has committed to carrying out a detailed analysis of the environmental and social aspects of each new project-related financing or advisory mandate on a project and requires that projects be developed and implemented in accordance with the environmental and social standards of the International Finance Corporation (IFC). In just a few years, the Equator Principles have become the benchmark for responsible project financing. In accordance with these principles, CACIB ensures that all project financing is approved and managed through its strict framework for environmental and social risk management.

Credit Agricole also publishes CSR policies which explain the social, environmental, and societal criteria introduced in its financing and investment policies. These criteria essentially reflect the civic issues that seem most relevant for all the Bank's activities, and in particular with regard to the respect for human rights, and the fight against climate change. Our oil & gas policy was updated in November 2024.