Philippe BRASSAC
Chief Executive Officer

This is about shifting from added responsibility to integrated responsibility, at the heart of our activities and ambitions.

When will we be able to assess the good conduct of the Group Project?
What is its trajectory?

D. L. : The strength of Crédit Agricole allows it to project itself in the future in any context. Although the Group Project does not fit into a defined timetable, we can nevertheless assess its relevance at different times: in the assessment that will be carried out for the 2022 Medium-Term Plan, and later at more distant times, in 2030, in particular, which is the time frame of many environmental and societal commitments made at national and international levels.

Our goals, to pursue our commitment to inclusion and to make sustainable finance one of the keys to the Group’s growth are concrete and responsible. They are concrete because, when it comes to inclusion, we rely on a comprehensive range of offers that takes into account the needs of all our customers, including the most vulnerable. Concerning climate, we are amplifying our approach to help customers transition towards a cleaner economy. We are also strengthening our tools to measure the environmental impacts of our financing and investment decisions. The financing of largescale renewable energy projects will be amplified.

These goals are also responsible because they link our corporate interest to that of our environment. Ensuring that our banking services, in terms of pricing and physical or digital accessibility, are within the reach of all, combines corporate interest and responsibility toward our fellow citizens. Accompanying the energy transition and monitoring the impacts of our financing combine corporate and environmental interest.

The addition of geopolitical, social and health risks, with their effects on the global economy, rates and markets, are transforming the banking business environment. How does the Group react to this environment?

P. B. :  Our Group has strengths that allow it to deal with an adverse environment. We are the tenth largest bank in the world, one of the strongest in the European Union.

Our universal customer-focused banking model is robust and diverse, and our social commitment, at the heart of our Medium-Term Plan, is our strength, in times of crisis and beyond.

Our level of capitalisation and our liquidity reserves are considerable. This strength allows us, during these uncertain times, to support all our customers, individuals, SMEs and small businesses, and corporates. Our priority is to work in favour of the economic development of all and of all regions, and then to contribute to the recovery of the economy. That is our Raison d’être.

The global health crisis we are experiencing is an unprecedented phenomenon for our modern societies, the longterm effects of which we do not yet know, whether they are health-, social- or economy-related. The rate at which it has spread, having turned global in a few weeks, should make us question our ability to take coherent and collective action, not only in the face of health and economic crises, but also in the face of other global challenges, including climate crises. This crisis is a warning, we must draw the consequences of it, collectively