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On the Environment and Governance, AFD Group is in the World's Top 10
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Compared with more than 4600 other companies and institutions assessed worldwide, AFD was ranked in the top 10 by Moody's Analytics, using environmental, social and governance criteria. It’s a sign that AFD is on the right track.
Agence Française de Développement Group's rating is up one point on the previous year, from 73 to 74 out of 100 in 2023. This year's ESG (environmental, social and governance) rating encompassed new dimensions, such as climate-related financial risk management.
This unprompted (and unpaid) assessment deals specifically with ESG criteria, which supplements existing financial ratings underpinned by economic criteria, in order to offer the most accurate reflection of the Group's commitments.
"These assessments are of pivotal value to AFD Group, as they are designed to rate and benchmark the corporate social responsibility (CSR) performance of companies and public-sector issuers," said Juliette Van Wassenhove, Head of AFD Accountability, Responsibility and Transparency Unit, who is driving the process. “AFD Group ranks 1st in its category, namely specialized banks and agencies, on a par with Caisse des dépôts, and features in the top 10 of some globally-rated 4,667 companies and institutions."
A seal of trust and dependability
Extra-financial ratings are a popular decision-making tool among “responsible” investors (banks, asset managers, investment companies, etc.). In light of its booming market financing business and the ongoing issuance of “sustainable” bonds, the Group places a special premium on such exercises.
See also: AFD Gets Top Ratings for Social, Environmental and Governance Criteria
"Indeed, it can never be overemphasized that the Group raises most of its financing through bond issues on international financial markets (€8 billion in2023), notes Thibaut Makarovsky, Head of AFD Finance and Market Operations Division.
“ESG is clearly a factor taken on board by investors as “sustainable finance" gains traction. As it stands, AFD Group operates in a competitive environment: investors can thus choose from a multitude of public, French and non-French, bilateral and multilateral issuers. A superior ESG rating is a differentiator that reinforces our brand, the Group’s activities and how it operates. It is indeed a seal of trust and dependability that we draw on when engaging with investors and that we must uphold year in, year out."