The first concrete effects following the agreement reached at COP28 in Dubai. The Crédit Agricole bank committed, Thursday, December 14, to no longer finance any new fossil fuel extraction projects and to reduce the CO2 emitted by projects financed by oil and gas by 75% by 2030 .
“We decide to cease all financing of new fossil fuel extraction projects and to adopt a selective approach in supporting energy companies registered in this transition”, indicated Philippe Brassac, the general director of the bank, the one of the main ones in France and Europe, in a press release announcing the update of its climate policy.