|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||10.19 - 10.43|
|52 Week Range||9.10 - 13.12|
|Beta (3Y Monthly)||1.53|
|PE Ratio (TTM)||7.73|
|Earnings Date||Aug 2, 2019|
|Forward Dividend & Yield||0.69 (6.75%)|
|1y Target Est||14.88|
(Bloomberg Opinion) -- Last week, the New York State Assembly passed the most aggressive clean-energy target in the United States, requiring New York to get 100 percent of its electricity from zero-emissions sources by 2040. Governor Andrew Cuomo, who is expected to sign the bill into law, called it “the most aggressive in the country.” On the other side of the country, Oregon’s state Legislature is attempting to pass another ambitious climate bill, an effort now stalled by the fact that Republican senators have walked off the job. In the absence of federal action on decarbonizing the power sector, states are taking action on their own.These state goals are ambitious, and they’re potentially unachievable using current technologies. But they are becoming policy reality, not political rhetoric. Businesses and investors thinking of what assets to build and finance, and where, are signaling that they are aligning themselves with these ambitious climate goals. The Network for Greening the Financial System, a group of central banks and supervisors that assesses climate risk and mobilizes climate finance, doesn’t see climate change as abstract. Rather, it is of a “foreseeable nature,” and “while the exact outcomes, time horizon and future pathway are uncertain, there is a high degree of certainty that some combination of physical and transition risks” will eventually materialize. If those risks are foreseeable, then they can be priced. And if those risks manifest themselves financially, then they should be disclosed as well. In its most recent status report, the Task Force on Climate-Related Financial Disclosures said that it now has almost 800 supporters, up from just over 100 only two years ago. The group’s disclosure framework has been appearing as corporate commitments to reduce exposure to climate change or curtail business activities that cause it. Crédit Agricole recently published its 2022 Medium-Term Plan, which not only aligns itself with the TCFD, but also goes directly after its own book of business in thermal coal used for power generation. The bank says it will be exiting from thermal coal production in EU and OECD countries by 2030 (no new business relations with companies for which thermal coal accounts for over 25% of their revenues except those that have announced plans to close their thermal coal activities or which intend to announce such plans by 2021). In a separate news release, the bank said it would also double its green loan portfolio to 13 billion euros by 2022. Its planned increase tracks an expanding market that could top 2018’s record $182 billion of green bond issuance.Credit Agricole and its peers are typical green bond issuers, and as Brian Chappatta of Bloomberg Opinion noted, the green bond field is not only growing, but it is also becoming more diverse. That’s a welcome change from last year, when Chappatta said the market “appeared to be stuck in infancy because of self-designating and a general lack of enforcement”: It’s not entirely clear what changed. Maybe countries and companies truly are reacting to the U.N.’s October report, which argued that the world has 12 years to avert catastrophic climate damage, and just needed time to get their financing in order. Regardless, the diversity of borrowers coming to market stands out as an important trend. About 39% of issuance in the first five months of 2019 came from countries other than China, France, the U.S., Germany, the Netherlands and Sweden, the most since at least 2014, Bloomberg data show. It is important to note two things about how the corporate world is adapting to a changing climate beyond the here and now. First, working to combat it has financial rewards, encouraging more of these efforts; second, almost every big business is building climate change into its forecasts. We can see this in the CDP’s recent Global Climate Change Analysis 2018. As Bloomberg’s Eric Roston reported, the world’s 500 largest companies tallied $970 billion in risks from climate change, as well as $2.1 trillion of “potential good news” in doing something about those risks. Acknowledgement of climate change at the highest corporate levels is already nearly unanimous: That acknowledgement has also become a matter of business strategy: Businesses and investors like certainty. Long-term and extremely ambitious policies such as New York’s ensure a bit more certainty, even if the exact mechanisms of achieving those policies remains uncertain. Climate change is all that most people have ever known, as I wrote last week, and it’s the same story for global corporations. Get Sparklines delivered to your inbox. Sign up here. And subscribe to Bloomberg All Access and get much, much more. You’ll receive our unmatched global news coverage and two in-depth daily newsletters, the Bloomberg Open and the Bloomberg Close.To contact the author of this story: Nathaniel Bullard at email@example.comTo contact the editor responsible for this story: Brooke Sample at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nathaniel Bullard is a BloombergNEF energy analyst, covering technology and business model innovation and system-wide resource transitions.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
The head of France’s largest retail bank has hit out at European regulators, arguing their capital requirements form “a noose” for banks, discouraging risk-taking and threatening their role in funding the economy. Philippe Brassac, chief executive of Crédit Agricole, said banking supervisors were no longer setting absolute capital levels, but instead tightening the “noose” for loans considered more risky.
Peers should take note: Credit Agricole SA is an example of how diversification helps. The French lender outlined its three-year plan on Thursday. Credit Agricole revamped itself after the financial crisis, through a series of acquisitions and disposals, to reduce its reliance on trading and bolster capital.
Today we're going to take a look at the well-established Crédit Agricole S.A. (EPA:ACA). The company's stock received...
European shares rose on Thursday, as expectations the European Central Bank will provide more stimulus for an ailing euro zone economy countered disappointment over the collapse of Renault-Nissan's merger with Fiat-Chrysler. The pan-European STOXX 600 index was up 0.3% by 0717 GMT, with the auto sector, down 0.48%, preventing stronger gains. The ECB, which announces its interest rate decision at 1130 GMT, is expected to seek to give the economy a boost and may even set the stage for more action later this year as the trade tensions unravel the benefits of years of ECB stimulus.
PRESS RELEASE Montrouge, 6 June 2019 GROUP PROJECT & 2022 MEDIUM-TERM PLAN "Working every day in the interest of our customers and society" A new Group Project Crédit Agricole Group is formally ...
The currency’s slide on Tuesday started when the ruling African National Congress confirmed David Mabuza would be sworn in as a lawmaker, opening the way for him to be reappointed as deputy president. Mabuza, 58, was linked to a succession of scandals while he served as premier of the eastern Mpumalanga province, though he denied the allegations and has never been charged. The delay in the appointment of the cabinet suggests Ramaphosa’s isn’t having it his own way as he negotiates with factions within his party.
Montrouge, 21 May 2018 GENERAL SHAREHOLDERS` MEETING OF CRÉDIT AGRICOLE S.A. A Crédit Agricole S.A. General Shareholders` Meeting was held on Tuesday, 21 May 2019 at the Centre des congrès Robert Schuman ...
Credit Agricole reported a bigger-than-expected fall in first-quarter net profit after an increase of costs eclipsed higher profits at its French retail bank and corporate and investment banking arm. The bank said on Wednesday costs during the first quarter rose, most notably because of a higher contribution to the EU's Single Resolution Fund (SRF) and accounting changes. Net profit fell 11% profit to 763 million euros (662.26 million pounds), missing the 789 million euros forecast in a poll of analysts by Infront Data.
European stocks traded mixed Wednesday as markets tried to rebound from a sell-off Monday resulting from China's announcement of retaliatory tariffs on U.S. imports.
Montrouge, 15 May 2019 First Quarter 2019 Results Good performance in all business divisions Crédit Agricole S.A. Underlying net income : € 796m, +1.0% Q1/Q1, +8.2% for the business divisions ...
Crédit Agricole SA today announces the launch of a share offering reserved for employees of the Crédit Agricole group worldwide. Crédit Agricole SA will offer 170,000 Crédit Agricole Group employees in 19 countries and retirees in France to subscribe to new Crédit Agricole SA shares under a reserved capital increase (ACR 2019). Employees will benefit from a discount of 20% on the average opening price of the Crédit Agricole SA shares from May 24 to June 20, 2019 and may subscribe from June 21 to July 3, 2019 inclusive (dates subject to the decision of Crédit Agricole SA`s management).
As announced in its press release of 6 February 2019 CACEIS Germany has received from the Bavarian tax authorities a demand for the repayment of the dividend tax that CACEIS refunded to a number of its customers in 2010. As specified on 6 February no intentional fault or negligence by CACEIS Germany is alleged to substantiate this claim. Under no circumstances has CACEIS Germany benefited from these reimbursements carried out to the benefit of its customers.
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! In 2015 Philippe Brassac was appointed CEO of Crédit Agricole S.A. (EPA:ACA). First, this...
Montrouge, 29 April 2019 Completion of the disposal by Crédit Agricole CIB of a 4.9% stake in BSF to a consortium led by Ripplewood Following the disclosure made on 15 March 2019, Crédit Agricole Corporate ...
Montrouge, 25 April 2019 Crédit Agricole S.A. General Meeting Publication of the Notice of Meeting brochure and opening of voting session. Crédit Agricole S.A. would like to inform its shareholders that ...
France's Credit Agricole and Spain's Santander plan to combine their custody and asset servicing operations, in a deal that could point the way for European banks to achieve scale without the complexity of a full merger. The new business will have around $3.8 trillion (£2.9 trillion) of assets under custody, closing the gap on European leaders and providing scope for savings and cost reductions. Credit Agricole will own 69.5 percent of the merged unit, which will keep the brand name of Agricole's existing asset management arm - Caceis.