 To exclude the least energy efficient hydrocarbons and those that pose the greatest threat to the environment, because these are incompatible with the goal of combating climate change and they represent an economic risk for investors. This means turning down projects and companies that do the majority of their business in: o Oil sands production, o Oil extracted from the Arctic region (off-shore and on-shore production), o Shale gas or oil production involving excessive flaring or venting, o Infrastructure projects mainly intended for schemes covered by the exclusion criteria set out above,  Crédit Agricole S.A. is committed to offsetting the Group's entire direct carbon footprint until 2040 via the