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Responsible Business

 

A responsible Group

Economic development is no longer possible without environmental and social progress. It is the responsibility of major companies to suggest the next virtuous models, models that encourage positive transformations of the world. Societe Generale group has a leading role to play in helping build greener and more inclusive development models and enabling the emergence of new drivers of sustainable growth. Social responsibility is at the heart of Societe Generale group’s corporate purpose: “Building together, with our clients, a better and sustainable future through responsible and innovative financial solutions.”

Climate commitments and environmental transition

At Societe Generale, we believe that banks have a key role to play in the positive transformations of the world and the sustainable development of economies. In line with our corporate purpose, we have placed sustainable development – and the energy transition in particular – at the heart of our strategy. We want to contribute to a transition that is both proactive and responsible by supporting our clients and the real economy as they move towards carbon neutrality.

Facing the challenge of climate change, the Group has identified three areas of priority action:

  • Manage climate related risks;
  • Proactively manage the climate impact of Group activities;
  • Support clients in their environmental transition.

 

The challenges can only be met collectively, through coalitions with our peers and in our customers' sectors to participate in the development of common and shared standards, while maintaining an ongoing dialogue with our stakeholders. 

By joining the UNEP-FI’s Net-Zero Banking Alliance in 2021 as a founding member, the Group committed itself to align its portfolios on trajectories aimed at global carbon neutrality by 2050 in order to reach the objective of limiting global warming to 1.5° C.

Our principal commitments to progressively align our credit portfolios with trajectories compatible with a 1.5°c scenario: 

Oil and Gas:

  • reinforced objective to reduce exposure to the oil and gas production sector in terms of financial exposure by 20% by 2025;
  • reduce by 30% by 2030 the absolute carbon emissions target concerning the end-use of oil and gas production.

Coal: reduce to zero our exposure to coal by 2030 in the EU and OECD countries, and by 2040 in the rest of the world.

Power generation: reduce the carbon intensity of exposure to the power generation sector to 125g of CO2 per kWh by 2030.

Societe Generale supports its clients in the transition, through dedicated solutions, and a commitment to contribute to sustainable finance with €300bn by 2025.

Societe Generale is committed to decrease of its own carbon emissions by -50% between 2019 and 2030.

Read more about climate commitments and the green transition on the Group's website

https://www.societegenerale.com/en/responsibility/csr-ambition/csr-commitments

https://www.societegenerale.com/en/responsibility/environmental-transition