Caisse d’Epargne implements a responsible labeling system for its financial products
| Region(s) | France |
|---|---|
| In domains | Banking and Finance, Reduction of Greenhouse Gases |
| Participants | CAISSE D'EPARGNE |
Caisse d’Epargne’s history is deeply rooted in local, social banking services. CAISSE D’EPARGNE has defined its pledges for sustainable development within the framework of its “Future Benefits” program, and plans to implement an ethic labelling system for its products and services, among others. CAISSE D’EPARGNE NORD FRANCE EUROPE is getting involved for the implementation of this program, capitalising on the dynamics induced by the recent merger of all three regional banks it is made up from.
Becoming the leader in responsible marketing in the banking industry.
Taking part in the fight against global warming by getting its customers involved.
Ensuring that its approach is consistent and credible by getting it approved by external stakeholders.
With the support of “Centre Info”, an external service provider specialized in corporate environmental analysis, CAISSE D’EPARGNE will first label 50
best-selling saving products in the private individuals’ market – “Livret A”, mutual funds and open-end funds, savings plans, sustainable development accounts, life insurance... – according to three criteria:
- Financial risks related to the complexity of the product or a wrong use by the consumer
- Carbon emissions related to products and activities they fund (direct and indirect emissions, carbon intensity of products/services over their full life cycle, assessment backed up by figures of carbon intensity in grams of CO2),
- Consideration of social and environmental aspects throughout the value chain of products and services
A panel of experts and stakeholders, including “Les Amis de la Terre”, “Testé pour Vous”, the “ADEME” and “WWF” will control and approve the method being used.
This action, which was prompted by a strong commitment from the Board of Directors, is supported by internal communication towards managers, and by training salesmen and saleswoman (including via an e-learning module over Intranet). When analysing their customers’ expectations, they have to consider their interest for these new environmental criteria.
• Solution to the customers’ expectations, strategic place as a leader in the market.
• Involvement of the employees and pride to be part of the company.
• Positive corporate image when recruiting young people.
• Anticipation of future regulations.
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