Responsible Finance **
Sustainable and Responsible Finance has long been one of Societe Generale’s most important priorities and is an area in which the Group has already undertaken a number of commitments: Equator Principles, UNEP-Fi, OECD directives, Global Compact.
Environmental and social criteria have been a defining factor in its financing activities for many years and, with the implementation of the Group’s Ambition SG 2015 transformation plan, now govern each and every aspect of its business and strategy.
Societe Generale constantly seeks improve its practices and to actively reduce the social, environmental, economic, financial and reputation risks that go hand-in-hand with its different activities. It aims to play a lasting role in the new markets born out of today’s environmental and social concerns, and to devote its time, skills and expertise to responsible economic development, particularly in emerging countries.
To make sure that its activities only ever have a positive impact, Societe Generale has developed a series of Environmental and Social Risk Management (ESRM) guidelines that further reinforce the integration of environmental and social criteria in its day-to-day business. As well as systematically governing the way in which Group sector policies are defined, the guidelines will also serve to evaluate the impact of all projects:
- Societe Generale Group’s Sector policies set out the standards that apply to each sensitive sector in which Societe Generale plays an active role (oil and gas, mining and metals, coal-fired power plants, etc.) to ensure its activities comply with applicable international norms and regulations and the Group’s own commitments. Implemented group wide, they pertain in particular to those sectors that are recognised as having a potential major impact on the environment and society and subsequently raise a number of doubts and fears.
- The Group’s Environmental and Social Evaluations serve to identify, measure, prioritise and manage its environmental and social risk. An integral part of the bank’s risk analysis and decision-making process, they apply at every level, from individual projects to all of the financial services the Group offers to its business customers.
- Societe Generale’s future development plans resolutely factor in those populations that are in greatest need (notably in the emerging countries), its skills and expertise when it comes to financing and its sector knowledge and global presence.
- Energy, urban development and water are also core priorities for the Group, both now and in the future.
The Group's commitment linked to "sensitive" sectors (gambling, tobacco, alcohol, arms) represent 1.1 % of total loans in 2010.* * verified by Ernst and Young ** in line with our Global Compact commitments