The Agence Internationale de l'Energie (Energy International Agency) (AIE) has the primary objective of ensuring security of energy supply globally, while respecting the environment. In 2007, the AIE publishes a study, World Outlook, which reported 0.6 tons of CO² per MWh for the carbon intensity (amount of CO² emitted by producing a unit of energy) of the world electricity production in 2005. The AIE recommends a stagnation of the number of particles of CO² in the atmosphere at 450 particles per million (ppm) with a maturity in 2030; thus calling a reduction by 3.5% per year of carbon intensity of the portfolio of world electricity production projects. In this context, the Dexia banking group adopts a sectoral energy policy.
DEXIA limits the impact of CO2 emissions of its portfolio of energy projects
Energy / Greenhouse Gases (GHG)
Reduce the carbon intensity of its portfolio of projects in the field of energy by 30% less than the recommendations of the AIE.
The Dexia sectoral energy policy is:
- Reducing greenhouse gases emissions (GHG) of electricity projects financed by the bank;
- The rejection of projects practicing gas flaring.
The bank regularly evaluates the intensity of CO² of its energy sector financing portfolio to ensure compliance with its objective. This evaluation rests on an estimate by experts (technical or environmental - consultants) of the performance of each project, considering the best available technologies. Dexia finances projects linked to:
- Nuclear power plants (under certain conditions),
- The production of electricity or heat from renewable energies,
- Thermal power plants equipped with technology to capture and store carbon,
- The modification of equipment to reduce CO² intensity of existing facilities before the end of their operation,
- Power plants (under certain conditions).
In addition, every year, Dexia controls and communicates the share of the accumulated amount of its financings of power plants that do not emit CO² during their operations and investments aiming to reduce the intensity of CO² of a facility.
This policy confirms the sectoral orientation of Dexia which devotes more than 40% of its energy financing to renewable energy, while the average French banks are only at 10%.
CONTRIBUTION TO COMPANY PERFORMANCE
- Providing funding to projects.
- Reducing of GHG emissions;
- 40% of Dexia energy funding is spent on renewable energy.