La Banque Postale, the only French bank A-listed by CDP for climate change performance

La Banque Postale, which is committed to achieving net zero emissions across all its banking activities by 2040, is the only French Bank and one of only three in Europe to be awarded an A score in 2021 by CDP for its climate commitment, the international gold standard for corporate climate change strategies. It joins the organisation's prestigious ‘A List’ alongside 200 companies recognised worldwide for their performance in fighting climate change.

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Global non-profit CDP has recognised the leadership of La Banque Postale in corporate social responsibility by including it on its prestigious ‘A List’ of companies fighting climate change. La Banque Postale was recognised for its management of climate-related risks, its high-quality environmental reporting, the measurement of its carbon footprint, and for its scope 1, 2 and 3 decarbonisation targets, which include emissions linked to its corporate banking and investment activities.

La Banque Postale is one of 200 high-performing companies out of nearly 13,000 scored. CDP uses a detailed and independent methodology to assess these companies, allocating a score ranking from A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets.

The financial sector has a leading role in the decarbonisation of the economy. Securing our first A score from the CDP and being the only French bank among 14 global banks recognised for their environmental performance is an acknowledgement of our commitment to ensure a just transition. La Banque Postale is fully mobilised to implement its decarbonisation pathway, which was certified by the SBTi in October.

Philippe Heim — Chief Executive Officer of La Banque Postale

Firm targets to fight climate change

Other sustainability rating agencies such as VE (VIGEO EIRIS) have also recently recognised the performance of La Banque Postale (global top-scoring bank in June 2021 with 75/100). These non-financial ratings reflect La Banque Postale's commitments to the climate and sustainable finance:

  • Already carbon neutral for its own operation since 2018, La Banque Postale set a target of net zero emissions across all banking activities by 2040 - 10 years before the deadline set by the European Union and scientists for achieving the Paris Agreement’s targets.
  • In October 2021, La Banque Postale became the first European bank and one of the first financial institutions worldwide to have its decarbonisation pathway recognised by the Science Based Targets initiative (SBTi), a leading independent body led by four international organisations (including the CDP).
  • Finally, in 2021 La Banque Postale committed to exiting fossil fuels by 2030. It will keep working with oil and gas companies that have a scientifically validated plan to exit from these activitiesies. This ambitious engagement was made in consultation with NGOs and is in line with the recommendations of the International Energy Agency.
  • La Banque Postale has also committed to doubling its outstandings in favor of renewable energies to €3 billion by 2023.