Credit Agricole CIB has launched the Capital Protected Impact Green Certificates, a green investment solution for Credit Agricole Italia’s clients in Italy.
This is part of the Credit Agricole Group’s initiative to commit to sustainable development and ESG issues.
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By GlobalDataFunds raised by Credit Agricole CIB via the Green Certificates will be used to support green loans, comprising loans to businesses and projects that demonstrate exceptional ESG performance.
Furthermore, businesses eligible for the green portfolio have to be exclusively dedicated to the transition towards a more environmentally friendly economy. They must also act as role models in terms of performance in this field.
Sectors that count in this criteria are renewable energies, energy efficiency, water and waste management, public transportation and others.
The Certificates are indexed to the performance of the MSCI Europe Green Select 50 5% Decrement Index. This is a “Green” Index created by MSCI and licenced to Crédit Agricole CIB. This Index is composed of the 50 largest European companies – selected by MSCI through a rigorous assessment process – that offer products and services with the greatest impact on the environment. The key themes considered are: alternative energy, sustainable water, “Green” building, pollution prevention and energy efficiency.
The Certificates (ISIN XS1784703610) issued by Crédit Agricole CIB (Ratings S&P: A+; Moody’s: Aa3; Fitch: AA-), are denominated in EUR and have a maturity of 5 years. The Certificates pay annual conditional coupons equal to 0.40% for the first 4 years if the Index doesn’t lose more than 50% from its initial level and, upon maturity, they redeem the capital invested increased/decreased by the positive/negative performance of the MSCI Europe Green Select 50 5% Decrement Index calculated starting from the issue date. The minimum redemption amount is 85% of the capital invested.
The Capital Protected Impact Green Certificates will be available from 15th February until 12th March exclusively for the clients of Crédit Agricole Italia.