Crédit Agricole plans to end financing for new oil and gas drilling

seekingalpha2023-12-14

Crédit Agricole (OTCPK:CRARY) (OTCPK:CRARY) on Thursday said it won’t provide financing for new fossil-fuel extraction projects. The French bank seeks to be carbon-neutral by 2050. Its announcement ...

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The French bank seeks to be carbon-neutral by 2050. Its announcement ...</p>\n\n<a href=\"https://seekingalpha.com/news/4046315-crdit-agricole-plans-to-end-financing-for-new-oil-and-gas-drilling\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CRARF","symbol_name":"Credit Agricole SA","start_time":0,"source_url":"https://seekingalpha.com/news/4046315-crdit-agricole-plans-to-end-financing-for-new-oil-and-gas-drilling","article_id":"2391775375","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1328791309/image_1328791309.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2391775375","pubTimestamp":1702559858,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Crédit Agricole (OTCPK:CRARY) (OTCPK:CRARY) on Thursday said it won’t provide financing for new fossil-fuel extraction projects. 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Its announcement comes the same week that government attendees to the United Nations COP28 climate conference agreed for the first time to lessen dependence on fossil fuels such as coal, oil and natural gas. Crédit Agricole (OTCPK:CRARY) (OTCPK:CRARY) estimated that it will boost its exposure to low-carbon energy by 80% through 2025, when it will total €13.3 billion ($14.46 billion). The bank also wants to triple yearly financing of renewable energy projects between 2020 and 2030. The plan is similar to a European Union pledge at the COP28 conference in Dubai. The bank seeks to cut funds in the oil and gas industry by 75% from 2020 to 2030, compared with a previous plan for a 30% reduction. Other banks including HSBC (HSBC) and BNP Paribas (OTCQX:BNPQF) (OTCQX:BNPQY) in the past couple of years have made similar pledges to avoid financing new oil and gas projects.  More on Crédit Agricole S.A., Crédit Agricole S.A., etc.  Crédit Agricole: Good Trends But Almost Fully Priced Credit Agricole S.A. (CRARF) Q3 2023 Earnings Call Transcript Crédit Agricole S.A. reports Q3 results Historical earnings data for Crédit Agricole S.A. Dividend scorecard for Crédit Agricole S.A.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2391775375"}