Since the launch of its carbon neutral programme in 2007, the Group has been constantly improving its environmental approach. As such, in 2011, Societe Generale was one of the first banks to implement the internal carbon tax, charged to the Group’s business lines and support functions, in order to fund the purchase of ‘carbon credits’.

In 2012, it was decided that the sums collected would be wholly dedicated to initiatives aimed at improving the energy efficiency of Societe Generale’s entities and business lines, thereby adopting an innovative and motivating system. In 2017, Societe Generale set itself a new target of a 25% reduction in its emissions per employee by 2020 compared to 2014 levels.

Internal Carbon Tax at Societe Generale

The Internal Carbon Tax and The Environmental Efficiency Awards

This desire to reduce emissions is accompanied by innovative initiatives such as the Internal Carbon Tax applied to all entities based on their carbon footprint, which finances internal programme for environmental efficiency. At the sixth award ceremony for the “Environmental Efficiency Awards” , Societe Generale celebrated the gathering momentum behind its Internal Carbon Tax system, which is used as a benchmark reference for other large corporate groups.

Established in 2007, this programme has expanded over the years and relies on an innovative dual-incentive scheme. Each year, a carbon tax is collected from Group entities based on their emissions and then is redistributed to reward the best internal environmental efficiency initiatives by means of a contest.

Over the last six years, this system has had remarkable success: generating €126 million in savings, avoiding more than 56,000 tons of CO2 and saving 298 GWh of energy. The growing participation of our staff, the emergence of new initiatives and the environmental benefits are all evidence that responsible actions are an opportunity to create value, innovate and generate savings.


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