In the lead-up to COP 28 and during the 8th edition of Positive Impact Week, Société Générale restates its primary goals regarding progress towards sustainable development.
The group has firmly positioned its ESG objectives at the centre of its approach under the direction of the new general management team.
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Additionally, it has also unveiled a number of significant efforts in its 2026 growth strategy that will boost its support to the environmental transition and, notably, to the United Nations Sustainable Development goals.
Group’s efforts to reduce carbon emissions:
- The company has largely finished its withdrawal from the thermal coal sector;
- It is rapidly reducing its exposure to the upstream oil and gas sector, with a target set of -80% by 2030 compared to 2019 and an intermediate 2025 step of -50%. It includes a target of -70% reduction in greenhouse gas (GHG) emissions by 2030 compared to 2019 for the entire Oil and Gas chain;
- A new goal for the commercial real estate industry to reduce carbon emissions, which will help the group’s financing align with Net Zero trajectories by 2050, and
- Release of an exclusive NZBA Progress Report.
Investing in collaborations and solution development to increase impact:
- A new €1bn ($1.097bn) investment fund with an emphasis on nature-based solutions, impact-driven opportunities, and transition is about to be announced. In the meantime, important partnerships are being developed, including with the International Finance Corporation (IFC).
- Growing its charitable endeavours: announcing a new alliance with The Ocean Clean-up to collaborate on the biggest clean-up in recorded history. In its capacity as a major “Mission Partner,” Societe Generale will provide financial support to the global non-profit organisation in order to help it develop technologies aimed at clearing plastic debris from rivers and oceans.
Slawomir Krupa, chief executive officer of Société Générale, commented: “ESG issues are at the heart of our new strategic roadmap. To face climate imperatives and to support the Sustainable Development Goals as a whole, Société Générale will consolidate its role as a driving force, with the ambition of acting as a leader in the transition and sustainable development of our economies. Our approach is holistic and part of a proactive, responsible, and progressive process, which mobilises all business lines and teams, and is based on ambitious, concrete, measurable and measured objectives. Anticipating risks as well as opportunities, we are acting to accelerate the decarbonisation of our activities by proactively supporting our clients in the transition, and to support the development of innovative solutions and partnerships, contributing to the transformation towards a decarbonised and socially responsible economy. I am convinced that it is by building on our entrepreneurial DNA and combining our efforts with our stakeholders that we will be able to succeed in the transition together.”
Furthermore, as one of the original members of the UNEP-FI’s Positive Impact Finance project, Société Générale continues to be engaged in financing renewable energy and positive impact initiatives for over two decades.
In order to provide its clients with modern ESG solutions and assistance to aid in their own transition, the Bank has built a strong technical expertise that has strengthened its dynamic portfolio alignment method in recent years.
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