Our 2020 strategic plan, Transform to Grow, is based on a long-term vision of the Societe Generale Group as a trusted partner for our clients, committed to the positive transformations of our societies and economies. Our ambition is therefore to generate stronger, profitable and sustainable growth
Frédéric Oudéa, Chief Executive Officer
Societe Generale CSR ambition
Societe Generale launched a more extensive and targeted initiative in 2017 for listening to its internal stakeholders to anchor and reinforce the Bank’s CSR vision. This enabled the creation of a materiality matrix which ranks sustainable development issues in light of the priorities expressed by the internal and external stakeholders. Societe Generale’s new CSR ambition has been developed on the basis of the results of this matrix.
The CSR ambition is structured around the following six themes: three general themes (customer satisfaction, employer responsibility, ethics and governance, including the management of environmental, social and governance (ESG) risks), two more specifically CSR themes (climate change, supporting societal trends) and a transversal theme (the development of Africa).
Organisation and governance
The Bank complies in full with the obligations set out in the French "Grenelle 2" law on the national commitment for the environment, including those relating to "art. 225" linked to company transparency in environmental and social issues and "art. 75" relating to the publication of a report on greenhouse gas (GHG) emissions. Since 2011, the Group has published its Environmental and Social (E&S) General Guidelines, which apply to all its activities and are based on initiatives that it joined between 2001 and 2007.
The Chief Executive Officer appointed the Group’s Director of Corporate Social Responsibility (CSR) to the Bank’s Management Committee with effect from 1st January 2017, thereby demonstrating Societe Generale’s intention to further develop and integrate CSR issues into its strategy.
The Board of Directors has validated the 2017-2020 CSR ambition, which is aligned with the overall strategy of the Group for 2020. The Group’s Corporate Social Responsibility Department is responsible for defining and proposing a CSR (Corporate Social Responsibility) policy for Societe Generale. In addition, the CSR Department is responsible for monitoring CSR actions, although the Group’s entities remain responsible for implementation and for aligning their actions with the Bank CSR policy.
Moreover, The CSR department implemented a reporting system in 2005 to track progress on our CSR policy using five indicator categories:
- Governance indicators: governance, ethics, compliance, risk culture, etc.
- Business indicators: social and environmental evaluation of counterparties and projects, product innovation in favour of sustainable development, customer satisfaction, contribution to local development, etc.
- Social indicators: employment, career and skill management, remuneration, working time, internal dialogue, health, safety, etc.
- Environmental indicators: environmental management system, environmental awareness, water and energy consumption, transport, paper, waste, etc.
- Sponsorship indicators.