2023: a year of achievements for our CSR    

The implementation of social responsibility at AFL covers several areas that are structured within the CSR Climate & Sustainable Finance Roadmap.

On governance issues, the AFL Group has formalised its governance process on all CSR matters:

CSR Climate & Responsible Finance Committee

AFL holds systematic quarterly meetings for its in-house CSR Climate & Responsible Finance Committee.

The CSR Climate and Sustainable Finance Roadmap

was approved by the Board of Directors and SB.

Compensation objectives

In 2023, CSR criteria were introduced into the compensation objectives for members of the Management Board.

Several publications have established AFL’s corporate responsibility ambitions across all is business segments:

An ethics charter

now formalises the bank’s commitment to ethical practices with member local authorities and capital markets, as well as business ethics rules applicable to all, notably regarding conflicts of interest.

A Carbon Footprint

carried out by Greenly, it revealed that overall (scopes 1, 2 and 3), AFL produces much less emissions than the sector average, as a result of its model - that only finances local investments.

A mapping of environmental risks

risks also helped to improve how these risks are taken into account and to anticipate any future regulatory restrictions and the integration of physical climate risk, for information purposes, in the credit distribution policy. A mapping of all environmental risks

Focus on AFL carbon footprint

A first Carbon Footprint (carried out by Greenly) was held in 2023, covering the year 2021 .

Major findings :
– AFL’s carbon footprint (scope 1, 2 and 3) is in line with the sector average
– The carbon footprint of financed emissions is significantly lower than the sector average, as a result of its model – that only finances local investments.
– The main part of the carbon footprint comes from financed emissions. The levers on each of the perimeters (corporate, loan portfolio, liquidity reserve) are very different in nature.

Some figures about AFL’s carbon footprint:

411 t of CO2
AFL emissions (Scope 1, 2 et 3)

Or 10 t CO2 per employee

782 kt of CO2
Financed emissions


A responsible investment policy

aimed at considering extra-financial criteria when selecting investment vehicles for the cash reserves.

A specific expertise offered to local authorities

on key transition-related themes. Several studies were conducted, in partnership with INET, covering a variety of issues: how local authorities are funding the environmental transition, green budgets, energy renovation in public buildings...

A new website

AFL has published its new website that will improve how the bank communicates on its CSR commitments and practices.

Training and awareness-raising programmes

AFL’s teams received several training and awareness-raising programmes on ethics and environmental responsibility:

    • AML-CTF training
    • Staff awareness on the Ethics Charter and Handbook
    • Staff awareness on fraud and cyber risk
    • Presentation of Comitology and decision-making processes
    • Staff awareness on the emergency and business continuity plan
    • IT Green Plan presentation
    • ESG regulatory frameworks
    • AFL Carbon Footprint presentation
    • Presentation of AFL’s climate and environmental risk mapping

Other achievements for CSR in 2023

  • In 2022, we introduced a collective thinking initiate with employees, on a voluntary basis, focusing on possible actions that could be taken regarding social /HR relations within the bank. Issued addressed included: career management, community life, recognition, office life, social actions.
  • In 2023, AFL signed a pledge to accelerate energy renovation in buildings owned by small towns in the Occitanie region.

Discover more about ESG at AFL

Our ESG commitments

Ethics and responsibility

“Embody responsible finance to empower local
to meet the present
and future needs of their inhabitants."

A responsible bank

AFL is committed to working with us, local authorities, to lead the energy and social transitions that are coming and are necessary.

A responsible company

AFL is directly committed as a company to the planet and to its employees.

Do you have any questions ?

  • What will you do with the profit in the future?

    Strengthen the capital.

  • Do you provide ESG loans?

    AFL does not provide ESG loans. However, based on a screening methodology of local authority budgets (detailed in the Sustainable Bond Framework), ESG capital expenses can be financed by loans that are refinanced through AFL’s Sustainability Bond issuances.

  • What kind of projects are you financing?

    AFL is only financing capital expenses of its members-shareholders and by so projects linked to their respective responsibilities and areas of intervention (such as transport, social work, waste management, water treatment and distribution, firefighting, schools, etc..).