Crédit Agricole CIB joined the Hydrogen Council, a global initiative on hydrogen energy which brings together more than 80 players in the energy, transport, industrial and financial sectors.
This participation allows the Bank to contribute, by supporting its clients, to the development of this transitional source of energy and thereby to reach Crédit Agricole Group’s climate goals, in line with the Paris Agreement.
According to forecasts, 18% of global energy demand could be met by Hydrogen by 2050, thus reducing greenhouse gas emissions by 6Gt per year, or 20% of the amount required to reach the goals of the Paris agreement. This represents USD 20 to 25 billion additional investments each year until 2030. A new “Investors” group to which Crédit Agricole CIB belongs, was just created within the Hydrogen Council to connect investors with the industry in anticipation of a massive expansion of hydrogen solutions. In this context, Crédit Agricole CIB’s role will be to support the projects and to assist new players, whether in capital or debt.