Climate strategy : Crédit Mutuel Arkéa publishes its commitments for 2024
Brest, 15 April 2021 - Crédit Mutuel Arkéa has announced the formalisation of its commitments to transform its financing and investment practices across all its activities in response to the urgent need to address the climate issue. While this climate strategy is a long-term one, it sets initial medium-term objectives in line with the group's new strategic plan, Transitions 2024. All of these commitments are in line with the banking group’s purpose, adopted at the Annual General Meeting last May.
As a socially responsible, ethical and inclusive company that is attentive to the environment, Crédit Mutuel Arkéa is strengthening the integration of environmental and social issues in all its activities. In view of the urgency of the climate change situation and convinced that it is a performance issue, the group has formalised a climate strategy based on commitments directly related to its business activities. These commitments aim to strengthen the group's commitment to the climate with regard to companies and regions by providing financial and extra-financial support for their environmental transition initiatives, and to integrate climate change into the assessment of the performance and risk of the group's activities.
Crédit Mutuel Arkéa completed its second social bond
Following the success of its first social bond in October 2019, Arkéa completed a second bond issue with social impact on June 4, 2020. This €750 million fund-raising will contribute to the economic development of regions in a context of unprecedented health crisis, via the financing/refinancing of loans to SMEs and the health sector in particular.
Arkéa announces a €500 million bond issue to refinance projects in favor of social housing and the medico-social sector. Through the issue of its 1st social bond, Arkéa has raised funds to contribute to the economic development of the territories, in accordance with its vocation to support and finance the real economy.
Arkéa is one of the first European banking players in the social bond market. This type of bond is intended to refinance social projects.
A very favorable acceptance by the financial markets
On Thursday 26 September, when Arkéa issued its first social bond on the financial markets, investors were very interested: demand reached €1.3 billion in less than three hours. Asset managers and insurance companies, the main underwriters of this bond, have placed their trust in the Arkéa group.