Credit Mutuel

Credit Mutuel assign decision-making and oversight responsibility for its sustainability strategy is to the highest governance body, while its implementation is delegated to dedicated functions, teams, or committees within the institution.

The financial institution ensures gender balance, maintaining a representation of 40-60% at the senior executive level. Moreover, Credit Mutuel actively engages in partnerships to influence and support sectors, clients, and investees in addressing their nature-related impacts.

The financial institution discloses the amount and/or share (in monetary terms) of products, services, and capital provided to typically excluded groups, as defined by the institution. It also provides transparency on its operations by country, including metrics such as the number of employees or revenue.

Credit Mutuel has a materiality assessment for environmental and social risks, but the identification and prioritisation process remains unclear. Recommendations include linking senior executive remuneration to sustainability targets and providing a comprehensive engagement policy. While a list of trade associations is disclosed, it is incomplete, and there is no commitment to avoid adverse sustainability impacts through lobbying. Emission reduction targets exist, but there is no target for identified climate solutions. Credit Mutuel Arkea has a biodiversity strategy and a materiality matrix for biodiversity impacts, yet a group-wide strategy is lacking. The institution discloses scope 1-2 emissions but could clarify scope 2 emissions and monitor scope 3 categories. Recommendations also include detailing the footprint calculation methodology, establishing a transition plan, ensuring emissions reductions align with interim targets, and providing a breakdown of clients by income group. It should disclose processes to avoid unintended divestment from low-income countries and include risks associated with ILO fundamental rights in its risk assessment. Finally, an example of actions taken regarding salient human rights issues in the last three years is recommended.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.