We thank you for your letter and for giving us the opportunity to comment your recent report “Digging in the shadow”. Credit Agricole has implemented a policy and reasonable due diligence process to identify risks and prevent violations of human rights and fundamental freedoms, impacts on human health and safety, and damage to the environment in our investments and financing. The Vigilance Plan report is published each year by Crédit Agricole S.A. on behalf of Crédit Agricole S.A. and its subsidiaries in accordance with the French law of 27 March 2017 on the duty of vigilance of parent companies and contracting companies...

As part of its CSR assessment of corporate clients, Credit Agricole CIB (CACIB) identifies the nature of CSR commitments and the existence of an E&S risk management system. In case of KazMunayGas Group (KMG Group), CACIB had identified the following commitments according to the information disclosed in open sources...

KMG has been a member and active participant of the United Nations Global Compact (UNGC) since 2006 and is committed to 10 UNGC principles and 17 Sustainable Development Goals (SDGs)... The company has formulated a human rights and an environmental policy...

CACIB always investigates any allegations of companies brought to attention. KMG has provided comments to major allegations against KMG-related companies and the remediation actions taken by the operators of Karachaganak Petroleum Operating (KPO), Tengizchevroil (TCO) and North Caspian Operating Company (NCOC). With KMG’s agreement, these comments are attached to this letter...