Dexia is a Belgian-French financial institution, also referred to as the Dexia Group. It was founded in 1996 through the merger of Crédit Communal de Belgique/Gemeentekrediet van België (founded 1860) and Crédit Local de France (founded 1987). The Dexia Group was founded as a dual-listed company, but in 1999 the Belgian entity took over the French entity to form one company.
The company is headquartered in Brussels, Belgium and is engaged in a variety of activities, including: retail and commercial banking; asset management; and publishing research on topics such as welfare, macro-economic studies, and on local government. In 2008 Dexia received a bailout totaling 6 billion Euros and as of 2011 there are plans to reorganize and partly nationalize the bank due to its financial troubles.
ownership
listed on Luxembourg Stock Exchange, NYSE Euronext
headquarters
Place Rogier 11
B - 1210 Brussels
Belgium
position top 1000 the Banker
In million US$. Ranking according to Tier 1 capital, as per definition Bank of International Settlements (BIS)
Luc Weyn - Netwerk Vlaanderen Yann Louvel - Les Amis de la Terre / Friends of the Earth France Private Finance Campaigner - Tel: +33 1 48 51 18 92 Sébastien Godinot - Les Amis de la Terre / Friends of the Earth France Campaigns Coordinator - Tel: +33 1 48 51 18 92
The CDP impels organisations to record their carbon footprint in daily activities. Encouraging enterprises to calculate and disclose their carbon impact, this initiative highlights the challenge for financial institutions to determine exactly how much carbon output can be attributed to financing.
Voluntary framework to guide the finance sector in tackling the challenge of climate change. They address the management of operational greenhouse gas (GHG) emissions and provide direction on managing climate change in research activities; asset management; retail banking; insurance & re-insurance; corporate banking; investment banking & markets; project finance.
The EPs are a set of guidelines, based upon the Performance Standards and guidelines from the IFC, the World Bank's private sector lending arm for private banks to asesses and mitigate risks in project finance. Banks use the Principles to guide internal operating procedures for transaction for specific projects. Although the EPs are an important step to raise overall standards of financiers and projects in the developing world, they currently fall short on transparency and governance requirements.
The verification and full publication of company payments and government revenues from oil, gas and mining is supported by the EITI. Financial institutions can participate and encourage resource-rich countries to support the initiative that aims to defeat poverty, corruption and conflict caused by weak transparency and accountability.
As the name suggests, the GRI aims to standardise good practice in transparency. GRI provides companies with guidelines to organise their annual report with reporting indices and standards addressing environmental, social and economic issues that business ought to address when telling the world about its performance.
The UN Global Compact is a set of ten principles that companies may sign voluntarily. Signatories promise to avoid complicity in human rights violations, adhere to labour standards, protect the environment and avoid corruption. The G8 countries urge companies to participate in this initiative, and with over 2900 companies signing up, the Global Compact has momentum. A voluntary and network based framework, the Global Compact actively promotes peer review and stakeholder participation.
UNEP is the 'voice of the environment' for the United Nations system, promoting international cooperation in the field of the environment. Issues concerning the financial community are addressed by the UNEP Finance Initiative which promotes investment in clean and renewable energy by financial institutions and other investors. Financial insititutions wishing to join must sign one of two Statements (for financial institutions and a separate one for the insurance industry).
UNPRI is a set of six principles direct institutional investors may adopt to consider environmental, social and corporate governance issues when investing. Voluntary and aspirational in nature, UNPRI has since its inception in 2006 attracted 200 signatories, representing US$8 trillion worth of investments.
Since the turn of the century a group of twelve banks known as the Wolfsberg Group have collaborated to improve ethical standards. The principles provide guidance on money laundering, corruption and the financing of terrorism. They have been produced to address deficiencies in areas 'yet to be fully articulated by lawmakers or regulators'.
Although
the views of Dexia regarding exclusion of certain investments do not match
those of BankTrack, it must be said that Dexia's Energy policy is well thought.
For example, investment decisions are guided by the objective to implement an
energy transition from the current energy mix to one that is consistent with a
stabilisation of CO2 at 450 ppm by 2030: "It is Dexia policy to remain 30%
below the above-stated intensity target of its portfolio of power generation
assets. Dexia will thus evaluate on a regular basis the CO2 intensity of its
portfolio so as to insure the respect of this target." Such specific reduction
targets are rarely mentioned in a bank's policy.
agriculture
0
1
2
3
4
5
arms industry and trade
0
1
2
3
4
5
fisheries
0
1
2
3
4
5
forestry
0
1
2
3
4
5
mining
0
1
2
3
4
5
oil and gas
0
1
2
3
4
5
power generation
0
1
2
3
4
5
biodiversity
0
1
2
3
4
5
climate change
0
1
2
3
4
5
corruption
0
1
2
3
4
5
human rights
0
1
2
3
4
5
indigenous peoples
0
1
2
3
4
5
labour
0
1
2
3
4
5
operation in conflict zones
0
1
2
3
4
5
taxation
0
1
2
3
4
5
toxics
0
1
2
3
4
5
accountability
0
1
2
3
4
5
transparency
0
1
2
3
4
5
headquarters
Place Rogier 11
B - 1210 Brussels
Belgium
position top 1000 the Banker
In million US$. Ranking according to Tier 1 capital, as per definition Bank of International Settlements (BIS)
Luc Weyn - Netwerk Vlaanderen Yann Louvel - Les Amis de la Terre / Friends of the Earth France Private Finance Campaigner - Tel: +33 1 48 51 18 92 Sébastien Godinot - Les Amis de la Terre / Friends of the Earth France Campaigns Coordinator - Tel: +33 1 48 51 18 92
Dynegy LS Power is currently planning to construct more new coal-fired power plants than any other company in the USA, which will result in very large increases in greenhouse…
Luc Weyn - Netwerk Vlaanderen Yann Louvel - Les Amis de la Terre / Friends of the Earth France Private Finance Campaigner - Tel: +33 1 48 51 18 92 Sébastien Godinot - Les Amis de la Terre / Friends of the Earth France Campaigns Coordinator - Tel: +33 1 48 51 18 92
BankTrack has identified controversial issues
with the companies listed below that require attention from Dexia.
National Thermal Power Corporation (NTPC)
National Thermal Power Corporation (NTPC) are the largest electricity producer in India. Their total installed capacity, including that under joint ventures, is close to…
Veolia is a large French company that operates on a global scale. The company is operating in several areas such as water supply and water management, waste management, energy…
Luc Weyn - Netwerk Vlaanderen Yann Louvel - Les Amis de la Terre / Friends of the Earth France Private Finance Campaigner - Tel: +33 1 48 51 18 92 Sébastien Godinot - Les Amis de la Terre / Friends of the Earth France Campaigns Coordinator - Tel: +33 1 48 51 18 92
Luc Weyn - Netwerk Vlaanderen Yann Louvel - Les Amis de la Terre / Friends of the Earth France Private Finance Campaigner - Tel: +33 1 48 51 18 92 Sébastien Godinot - Les Amis de la Terre / Friends of the Earth France Campaigns Coordinator - Tel: +33 1 48 51 18 92
Rapport - Les banques sous pression citoyenne : l'heure de rendre des comptes
Nov 02, 2011 | Les Amis de la Terre / Attac France
Evaluates the practices of the 10 main banking groups operating in France in five areas of their activity : financial stability, their users-customers, their employees, the environment and democracy.
Synthèse - Les banques sous pression citoyenne : l’heure de rendre des comptes
Nov 02, 2011 | Les Amis de la Terre/Attac
Evaluates the practices of the 10 main banking groups operating in France in five areas of their activity : financial stability, their users-customers, their employees, the environment and democracy.
Bankers on Tenterhooks - Climate change : co-funded by banks operating in Belgium
Jun 02, 2010 | Netwerk Vlaanderen
Report on investments of BNP Paribas, KBC, Dexia, Citibank, Deutsche Bank, ING and AXA in climate-threatening activities including new coal plants, oil extracted from tar sands, or the decimation of rain forests.
Apr 01, 2010 | Netwerk Vlaanderen, IKV PAX Christi
A short version of the 'Hall of Fame and runners-up'-document. Both taken from the report: "Worldwide Investments in Cluster Munitions; A Shared Responsibility" Updated April 2010.
Beleggers op hete kolen: Een kritische doorlichting van de klimaatfondsen op de Belgische markt (in Dutch)
May 01, 2008 | Netwerk Vlaanderen
Investors on hot coals: Banks that offer so-called sustainable climate funds are all too often hiding the reality from investors. Some of these funds include investments in nuclear power, agrofuels, the arms industry or companies that abuse human rights.
Letter to BankTrack as a response to BT letter of February 11, 2010
Mar 29, 2010 | Equator Principles Financial Insititutions, Citi
The first response ever to one of the letters BankTrack sent to the Equator Principles Financial Insititutions. It is a response to the BankTrack follow up letter after the meeting in Zuerich, February 4.
Using the 2011 Global Investor Statement on Climate Change, investors will advocate for investment grade climate change and energy policies at the national and international level.
Luc Weyn - Netwerk Vlaanderen Yann Louvel - Les Amis de la Terre / Friends of the Earth France Private Finance Campaigner - Tel: +33 1 48 51 18 92 Sébastien Godinot - Les Amis de la Terre / Friends of the Earth France Campaigns Coordinator - Tel: +33 1 48 51 18 92
Banksecrets
International website developed by BankTrack, CRBM, Les Amis de la Terre, Netwerk Vlaanderen, Platform, Setem and Urgewald.
Information in English, French, German, Italian, Dutch, Spanish.
Based on Les Amis de la Terre main reports on private finance, this educational website presents a profile of French banks, saving products and insurances, and aims at making individuals
aware of the social and environmental impacts of these financial institutions, and at encouraging them to get active in this area of crucial importance.
The website also includes a web calculator, for individual to be able to evaluate the carbon weight of their savings, and to show them how to reduce it by changing their choices of banks and savings products.
Luc Weyn - Netwerk Vlaanderen Yann Louvel - Les Amis de la Terre / Friends of the Earth France Private Finance Campaigner - Tel: +33 1 48 51 18 92 Sébastien Godinot - Les Amis de la Terre / Friends of the Earth France Campaigns Coordinator - Tel: +33 1 48 51 18 92
