23.08.2019

Crédit Agricole S.A. group commits to tackling inequality by joining G7 Business for Inclusive Growth (B4IG) coalition powered by the OECD

Companies joining forces are investing a combined total of over 1 billion USD in more than 50 current and future initiatives, benefiting 100 million people to date.

In recognition of record-high levels of inequality, Crédit Agricole S.A. among a coalition of 34 leading international companies has committed to step up business action to advance human rights throughout their value chains, build inclusive workplaces and strengthen inclusion in their internal and external business ecosystems.

The coalition’s strategy rests on three pillars: 

  • A Business Pledge Against Inequalities to advance human rights, workplace inclusion & diversity and value chain inclusiveness;
  • An incubator to design or expand new inclusive business models, piloting social innovation and private-public collaboration at the micro-economic level; and
  • An inclusive growth financing forum to promote innovative financing mechanisms between business, governments and philanthropic actors.

Philippe Brassac, Crédit Agricole S.A. Chief Executive Officer, comments: “Our Group was founded from the solidarity of the territories. For 130 years, we have been supporting the evolution of society by promoting more shared growth. This commitment is now at the heart of our raison d'être: ‘Working every day in the interest of our customers and society.’ Today, we are reaffirming this resolutely universal, inclusive and sustainable bank identity.

The G7 B4IG coalition will be coordinated by the OECD. The coalition will benefit from OECD economic and social evaluation expertise as it advances on this agenda over the next three years. Progress and lessons learned will be shared during an annual board meeting. B4IG results will be shared with the Business 7 and Labour 7 to help inform their preparation and contributions to G7, with a view to foster more inclusive macro-economic growth policies.

B4IG will be presented to President Emmanuel Macron at the Elysée Palace on Friday, August 23, ahead of the G7 Leaders’ Summit in Biarritz.