Crédit Mutuel Alliance Fédérale is joining the Tobacco-Free Finance Pledge. By officially making this pledge, we are taking our social and cooperative responsibility policy even further as we work to build a more sustainable and community-driven world.
Smoking is one of the main causes of preventable death. The tobacco industry draws intensively on natural resources and generates waste that is harmful to the environment, particularly aquatic life.
Faced with the long list of harmful effects on the environment and human health, Crédit Mutuel Alliance Fédérale has decided to sign up to the Tobacco-Free Finance Pledge. This initiative, supported by the United Nations Environment Program (UNEP), echoes the World Health Organization’s 2003 Framework Convention on Tobacco Control (WHO FCTC).
This signals the official withdrawal of our mutualist group and our subsidiaries from all financing and investment operations relating to the tobacco industry (including through our insurance subsidiary). Our new policy will cover all undertakings that produce and/or manufacture tobacco-based products and products derived from tobacco.
Today’s announcement is the latest in a series of social and cooperative responsibility pledges that we have made over the past four years. This makes Crédit Mutuel Alliance Fédérale one of the most committed banking groups when it comes to building a more sustainable and community-driven world.