We have received your e mail informing us of the upcoming Business and Human Rights follow up report on the renewable energy sector in Saudi Arabia. We understand that Crédit Agricole will be named in the report as a financier of the NEOM Green Hydrogen Project and that the focus will be on findings related to access to remedy within the context of alleged labour rights abuse.

As you know, we replied to your initial request in November 2025, expressing our concern at the issues raised and assuring you that Crédit Agricole conducts its business relationships with clients with the greatest respect for human rights. In particular, the Bank expects its corporate clients to develop good working practices and business ethics to limit their environmental and social impacts.

This expectation is particularly important in relation to human rights for which the Bank has adopted voluntary commitments (Human Rights Charter, United Nations Global Compact, etc.) and is subject to legal obligations in certain countries (e.g. OECD Guidelines for Multinational Enterprises and the United Nations Guiding Principles on Business).

These obligations are based in part on carrying out due diligence, assessed on a sectoral basis using data from extra-financial rating agencies…