Crédit Agricole CIB joins the Hydrogen Council
Crédit Agricole CIB joined the Hydrogen Council, a global initiative on hydrogen energy which brings together more than 80 players in the energy, transport, industrial and financial sectors. This participation allows the Bank to contribute, by supporting its clients, to the development of this transitional source of energy and thereby to reach Crédit Agricole Group’s climate goals, in line with the Paris Agreement.
According to forecasts, 18% of global energy demand could be met by Hydrogen by 2050, thus reducing greenhouse gas emissions by 6Gt per year, or 20% of the amount required to reach the goals of the Paris agreement. This represents USD 20 to 25 billion additional investments each year until 2030. A new “Investors” group to which Crédit Agricole CIB belongs, was just created within the Hydrogen Council to connect investors with the industry in anticipation of a massive expansion of hydrogen solutions. In this context, Crédit Agricole CIB’s role will be to support the projects and to assist new players, whether in capital or debt.
Jacques Ripoll, Chief Executive Officer of Crédit Agricole CIB comments: “Joining the Hydrogen Council will allow us to strengthen the support we provide to our clients in their adoption of this clean source of energy and to share best market practices. This is a natural extension of our longstanding commitment alongside the energy transition players.”
A worldwide sector team dedicated to hydrogen energy was set up within Crédit Agricole CIB. This multi-product team combines Sustainable Banking, Infrastructure, Power & Utilities, Oil & Gas and M&A experts. Leveraging on our longstanding expertise in wind and solar energy and on our leading position in the Green, Social & Sustainability bond market, the Bank will offer tailor-made financing and advisory solutions. For this it will rely on its worldwide distribution platform.
Crédit Agricole CIB is the corporate and investment banking arm of Credit Agricole Group, the 12th largest banking group worldwide in terms of tier 1 capital (The Banker, July 2019). Nearly 8,000 employees across Europe, the Americas, Asia-Pacific, the Middle East and Africa support the Bank's clients, meeting their financial needs throughout the world. Crédit Agricole CIB offers its large corporate and institutional clients a range of products and services in capital markets activities, investment banking, structured finance, commercial banking and international trade. The Bank is a pioneer in the area of climate finance, and is currently a market leader in this segment with a complete offer for all its clients.
For many years Crédit Agricole CIB has been committed to sustainable development. The Bank was the first French bank to sign the Equator Principles in 2003. It has also been a pioneer in Green Bond markets with the arrangement of public transactions from 2012 for a wide array of issuers (supranational banks, corporates, local authorities, banks) and was one of the co-drafter of Green Bond Principles and of the Social Bond Guidance. Relying on the expertise of a dedicated sustainable banking team and on the strong support of all bankers, Crédit Agricole CIB is one of the most active banks in green finance.
For more information, please visit www.ca-cib.com
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