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Crédit MutuelFrance
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Created before Nov 2016
Last update: 2020-02-20 14:47:45

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Crédit Mutuel head offices in Strasbourg. Photo: Ji-Elle via Wikimedia Commons (CC BY SA 3.0)

About Crédit Mutuel

Crédit Mutuel is a French financial institution headquartered in Strasbourg. It is a credit union of more than 5,000 local branches regrouped in 11 regional federations (also known as CM11). These federations together form the CM11-CIC, which also includes the CIC group (Crédit Industriel et Commercial). In turn, the CM11-CIC Group operates as a subsidiary of Confédération Nationale du Crédit Mutuel.

Website https://www.creditmutuel.fr/
Headquarters
34 rue Wacken
67000 Strasbourg
France
CEO/chair Nicolas Théry
President
Supervisor
Banque de France
Annual report Annual report 2018
Ownership

Crédit Mutuel is a co-operative bank owned by its members. 

Related Dodgy Deals

Crédit Mutuel has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal.

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Policy Assessments

Banks, climate and energy

Bank policy scores on coal financing

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Credit Mutuel-CIC
2020-03-01
FRA
75
75
0
France
Profile
Laggard
Follower
Front runner
Leader
75
1583017200
Last update: 2020-03-01
Explanation

Total: 75 points out of 80

30 points out of 32 for coal mining policy: see here.

30 points out of 32 for coal power policy: see here.

15 points out of 16 for coal infrastructure: see here.

See: Banking on Climate Change - policy scores

Explanation

For both coal mining and coal power, 32 possible policy points can be obtained, while for other coal,16 possible policy points can be obtained. So a bank can obtain a total of 80 policy points for its coal policies. Based on this score banks are then classified as laggards (0-20 points), followers (20.5-40 points), front runners (40.5-60 points) or leaders (60.5-80 points).

For more details see this page.

Bank policy scores on coal mining

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Credit Mutuel-CIC
2020-03-01
FRA
30
30
0
France
Profile
Laggard
Follower
Front runner
Leader
30
1583017200
Last update: 2020-03-01
Explanation

Total: 30 points out of 32

6 points for a strong exclusion of coal mining projects: Crédit Mutuel prohibits financing for greenfield or brownfield thermal coal mines.

8 points for a strong exclusion of companies expanding coal mining (coal mine developers): Crédit Mutuel prohibits financing for all coal mine developers.

8 points for a strong phase-out commitment regarding coal mining companies: Crédit Mutuel committed to a full coal phase-out by 2030. It requires its clients to have by 2021 a coal phase-out plan to close their coal assets by 2030 in order to continue to receive financial support from the bank.

8 points for a strong exclusion threshold for coal mining companies: Crédit Mutuel prohibits financing of companies with more than 20% of revenues from coal, or companies that produce more than 10 Mt of coal a year.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-02-20 00:00:00

Climate strategy

2020-02-20 00:00:00
csr policies
2019-05-10 00:00:00

Sector policy - Mining sector

2019-05-10 00:00:00
Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for coal mining projects.

  • None (0), mountaintop removal mining exclusion (0.5), weak exclusion (2), moderate exclusion (4), strong exclusion (6)

2) Restriction on financing for companies that expand coal mining.

  • None (0), weak exclusion (4), strong exclusion (8)

3) The bank’s commitment to phase-out financing for coal mining.

  • None (0), exposure reduction (1.5), financing reduction (3), weak phase-out (4), moderate phase-out (6), strong phase-out (8)

4) The bank’s commitment to exclude companies active in coal mining above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (3), moderate exclusion threshold (5), strong exclusion threshold (8), full exclusion (10)

A bank can obtain a total of 32 policy points for its coal mining policy. Based on this score banks are then classified as laggards (0-8 points), followers (8.5-16 points), front runners (16.5-24 points) or leaders (24.5-32 points).

For more details see this page.

Bank policy scores on coal power

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Credit Mutuel-CIC
2020-03-01
FRA
30
30
0
France
Profile
Laggard
Follower
Front runner
Leader
30
1583017200
Last update: 2020-03-01
Explanation

Total: 30 points out of 32

6 points for a strong exclusion of coal power projects: Crédit Mutuel prohibits financing for greenfield or brownfield coal-fired power plants.

8 points for a strong exclusion of companies expanding coal power (coal power developers): Crédit Mutuel prohibits financing for all coal plant developers.

8 points for a strong phase-out commitment regarding coal power companies: Crédit Mutuel committed to a full coal phase-out by 2030. It requires its clients to have by 2021 a coal phase-out plan to close their coal assets by 2030 in order to continue to receive financial support from the bank.

8 points for a strong exclusion threshold for coal power companies: Crédit Mutuel prohibits financing of companies with more than 20% of energy production coming from coal, and companies with more than 5GW of coal capacity.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-02-20 00:00:00

Climate strategy

2020-02-20 00:00:00
Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for coal power projects.

  • None (0), weak exclusion (2), moderate exclusion (4), strong exclusion (6)

2) Restriction on financing for companies that expand coal power.

  • None (0), weak exclusion (4), strong exclusion (8)

3) The bank’s commitment to phase-out financing for coal power.

  • None (0), proportional reduction (1), exposure reduction (1.5), financing reduction (3), weak phase-out (4), moderate phase-out (6), strong phase-out (8)

4) The bank’s commitment to exclude companies active in coal power above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (3), moderate exclusion threshold (5), strong exclusion threshold (8), full exclusion (10)

A bank can obtain a total of 32 policy points for its coal power policy. Based on this score banks are then classified as laggards (0-8 points), followers (8.5-16 points), front runners (16.5-24 points) or leaders (24.5-32 points).

For more details see this page.

Bank policy scores on coal infrastructure

BankLast update
Country
Details
Laggard
Follower
Front runner
Leader
Credit Mutuel-CIC
2020-03-01
FRA
15
15
0
France
Profile
Laggard
Follower
Front runner
Leader
15
1583017200
Last update: 2020-03-01
Explanation

Total: 15 points out of 20

3 points for a strong exclusion of coal infrastructure projects: Crédit Mutuel prohibits financing for greenfield or brownfield coal infrastructure projects.

4 points for a strong exclusion of companies expanding coal infrastructure: Crédit Mutuel prohibits financing for all coal infrastructure developers.

4 points for a strong phase-out commitment regarding coal infrastructure companies: Crédit Mutuel committed to a full coal phase-out by 2030. It requires its clients to have by 2021 a coal phase-out plan to close their coal assets by 2030 in order to continue to receive financial support from the bank.

4 points for a strong exclusion threshold for coal infrastructure companies: Crédit Mutuel prohibits financing of companies with more than 20% of revenues coming from coal.

See: Banking on Climate Change - policy scores

Relevant policies
csr policies
2020-02-20 00:00:00

Climate strategy

2020-02-20 00:00:00
Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for coal infrastructure projects.

  • None (0), weak exclusion (1), strong exclusion (3)

2) Restriction on financing for companies that expand coal infrastructure.

  • None (0), weak exclusion (2), strong exclusion (4)

3) The bank’s commitment to phase-out financing for coal infrastructure.

  • None (0), exposure reduction (1), weak phase-out (2), strong phase-out (4)

4) The bank’s commitment to exclude companies active in coal infrastructure above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (4), full exclusion (5)

A bank can obtain a total of 16 policy points for its coal infrastructure policy. Based on this score banks are then classified as laggards (0-4 points), followers (4.5-8 points), front runners (8.5-12 points) or leaders (12.5-16 points)

For more details see this page.

News

| |
Type:
Year:
blog
external news
our news

Annonces climat de Crédit Mutuel : en route vers la sortie du charbon

2020-02-20 | Les Amis de la Terre
blog
external news
our news

Europe’s biggest banks register €25 billion profit in tax havens

2017-03-27 | Fair Finance International, Oxfam
blog
external news
our news

NGOs warn banks not to further finance PNG LNG project

Dodgy Deal Alert
2013-04-18 | Nijmegen | BankTrack
blog
external news
our news

French banks: a citizen rating reveals what is going on underneath their activities

2011-11-02 | Paris and Nice | Les Amis de la Terre and Attac France
blog
external news
our news

‘Nuclear banks no thanks’ coalition demands banks to stop financing nuclear energy

Nuclear disaster in Japan is a sad and urgent reminder of the inherent risks of nuclear energy
2011-03-15 | Nijmegen | BankTrack
blog
external news
our news

New FoE report : French insurances : guaranteed climate change?

New FoE report higlights the climate impacts of French insurances activities.
2008-12-10 | Paris, France | Les Amis de la Terre
blog
external news
our news

New report FoE France : French Banks, Fossil Banks?

New FoE report slams French banks for sad state climate policies
2007-03-06 | Paris, France | Les Amis de la Terre
blog
external news
our news

New report FoE France : Banques et environnement: Presque tout reste à faire

2006-03-06 | Paris, France | Les Amis de la Terre

Documents

Type:
Year:
csr policies
2020-02-20 00:00:00

Climate strategy

2020-02-20 00:00:00 | Crédit Mutuel
annual reports
2019-06-30 00:00:00

Annual report 2018

2019-06-30 00:00:00 | Crédit Mutuel
csr policies
2019-05-10 00:00:00

Secteur centrales thermiques au charbon

Date listed represents date as accessed on website
2019-05-10 00:00:00 | Crédit Mutuel
csr policies
2019-05-10 00:00:00

Politique achats

Date listed represents date as accessed on website
2019-05-10 00:00:00 | Crédit Mutuel
csr policies
2019-05-10 00:00:00

Secteur défense et securite

Date listed represents date as accessed on website
2019-05-10 00:00:00 | Crédit Mutuel
csr policies
2019-05-10 00:00:00

Secteur énergie nucleaire civile

Date listed represents date as accessed on website
2019-05-10 00:00:00 | Crédit Mutuel
csr policies
2019-05-10 00:00:00

Sector policy - Mining sector

2019-05-10 00:00:00 | Crédit Mutuel
csr policies
2019-05-10 00:00:00

Sector policy - Coal-fired power plant sector

2019-05-10 00:00:00 | Crédit Mutuel
csr policies
2018-06-12 00:00:00

Secteur minier

2018-06-12 00:00:00 | Crédit Mutuel
annual reports
2018-04-30 00:00:00

CSR report 2017

(in French)
2018-04-30 00:00:00 | Crédit Mutuel
annual reports
2018-04-20 00:00:00

Annual report 2017

2018-04-20 00:00:00 | Crédit Mutuel
csr policies
2017-11-30 00:00:00

Declaration contre le blanchiment de capitaux et le financement du terrorisme

2017-11-30 00:00:00 | Crédit Mutuel
annual reports
2017-04-01 00:00:00

Responsabilité Sociétale 2016

2017-04-01 00:00:00 | Crédit Mutuel
annual reports
2017-04-01 00:00:00

Annual report 2016

2017-04-01 00:00:00 | Crédit Mutuel
csr policies
2017-03-27 00:00:00

Charte des relations fournisseurs et prestataires pour des achats durables

2017-03-27 00:00:00 | Crédit Mutuel
our publications
2016-06-30 00:00:00

Banking with Principles? Second Edition June 2016

Benchmarking Banks against the UN Guiding Principles on Business and Human Rights
2016-06-30 00:00:00 | BankTrack
bank documents
2013-02-05 00:00:00

French financial institutions energy guidance notes

2013-02-05 00:00:00 | ORSE
ngo documents
2011-11-02 00:00:00

Synthèse - Les banques sous pression citoyenne : l’heure de rendre des comptes

2011-11-02 00:00:00 | Les Amis de la Terre/Attac
ngo documents
2008-12-10 00:00:00

French insurances : guaranteed climate change?

2008-12-10 00:00:00 | Les Amis de la Terre
ngo documents
2008-12-10 00:00:00

Assurances françaises : changements climatiques garantis?

2008-12-10 00:00:00 | Les Amis de la Terre
ngo documents
2008-12-10 00:00:00

Assurances françaises : changements climatiques garantis?

2008-12-10 00:00:00 | Les Amis de la Terre
ngo documents
2007-03-06 00:00:00

French banks, Fossil banks?

2007-03-06 00:00:00 | Les Amis de la Terre
ngo documents
2007-03-06 00:00:00

Environnement: Comment choisir ma banque?

2007-03-06 00:00:00 | Les amis de la Terre
csr policies
2006-04-22 00:00:00

Code d'éthique et de déontologie

2006-04-22 00:00:00 | Crédit Mutuel
ngo documents
2006-03-06 00:00:00

Banques françaises et environnement : presque tout reste à faire

2006-03-06 00:00:00 | Les Amis de la Terre

Links

Crédit Mutuel page on Finance responsable website by Les Amis de la Terre

http://financeresponsable.org/fiche-entreprise.php?id_entreprise=14

Policies

Voluntary initiatives

Crédit Mutuel has committed itself to the following voluntary standards:
  • Observatoire de la responsabilité sociétale des enterprises (ORSE)
  • Principles for Responsible Banking (PRB)
  • Principles for Responsible Investment (PRI)
  • Transparency International
  • United Nations Global Compact

Investment policies

Year:
csr policies
2020-02-20 00:00:00

Climate strategy

2020-02-20 00:00:00 | Crédit Mutuel
csr policies
2019-05-10 00:00:00

Secteur centrales thermiques au charbon

Date listed represents date as accessed on website
2019-05-10 00:00:00 | Crédit Mutuel
csr policies
2019-05-10 00:00:00

Politique achats

Date listed represents date as accessed on website
2019-05-10 00:00:00 | Crédit Mutuel
csr policies
2019-05-10 00:00:00

Secteur défense et securite

Date listed represents date as accessed on website
2019-05-10 00:00:00 | Crédit Mutuel
csr policies
2019-05-10 00:00:00

Secteur énergie nucleaire civile

Date listed represents date as accessed on website
2019-05-10 00:00:00 | Crédit Mutuel
csr policies
2019-05-10 00:00:00

Sector policy - Mining sector

2019-05-10 00:00:00 | Crédit Mutuel
csr policies
2019-05-10 00:00:00

Sector policy - Coal-fired power plant sector

2019-05-10 00:00:00 | Crédit Mutuel
csr policies
2018-06-12 00:00:00

Secteur minier

2018-06-12 00:00:00 | Crédit Mutuel
csr policies
2017-11-30 00:00:00

Declaration contre le blanchiment de capitaux et le financement du terrorisme

2017-11-30 00:00:00 | Crédit Mutuel
csr policies
2017-03-27 00:00:00

Charte des relations fournisseurs et prestataires pour des achats durables

2017-03-27 00:00:00 | Crédit Mutuel
csr policies
2006-04-22 00:00:00

Code d'éthique et de déontologie

2006-04-22 00:00:00 | Crédit Mutuel

Good moves

Year:

2020

Crédit Mutuel commits to zero tolerance regarding coal developers and total coal phase out by 2030

In February 2020 Crédit Mutuel announced its new climate policy committing to zero tolerance regarding coal developers and to a total coal phase out by 2030. Crédit Mutuel's new climate policy can be accessed here.   Les Amis de la Terre's press release commenting on Crédit Mutuel's…
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