Credit Agricole Halts Standard Bond Deals for Oil, Gas Producers

Credit Agricole SA has become the latest European bank to cease underwriting conventional bonds for oil and gas producers.

France’s second-biggest bank will still participate in deals for fossil-fuel producers if they’re labeled green, meaning the proceeds must go to environmentally-friendly projects, a spokesperson for the lender told Bloomberg by email. Credit Agricole also will underwrite the sector’s so-called sustainability-linked bonds, according to the email.

But the bank will no longer participate in bond issuances for oil and gas producers that don’t have a green focus, the spokesperson said. The policy follows on from Credit Agricole’s latest climate strategy ...