Reducing our environmental footprint

Published on 02/02/2023

Societe Generale places Corporate Social Responsibility (CSR) issues at the heart of its ambition and strategic roadmap. Taking action for the energy transition is one of our priorities.

Societe Generale is therefore firmly committed to helping to limit global warming to 1.5°C by 2050. This commitment is reflected in the support offered to our customers with their transition and the alignment of our credit and investment portfolios with the Paris Agreement. It also requires action on our own environmental footprint. 

Footprint reduction

The main areas of action identified, which are put in place directly by the Group’s entities, are as follows:

  • energy: reduction in energy consumption, combined with the increased use of renewable energy;
  • air transport and the vehicle fleet: reduction in the frequency of travel and use of more efficient routes or airlines. Use of less emitting solutions, for example by switching the vehicle fleet to electric;
  • IT: particular attention is paid to the carbon footprint of the Group’s IT system through a specific “CSR by IT” programme

Staff initiatives for the Group’s footprint and the environment

Each year, a carbon tax is applied to the Group’s entities, depending on their greenhouse gas emissions (in 2022, it was €25/teq CO2 vs €10 previously). The amount collected is redistributed at the Energy Efficiency and Environment Awards ceremony, to reward the best initiatives to reduce the Group’s environmental impact, while also generating financial savings.

The ninth awards ceremony was held in January 2023. 16 Business Units/Service Units presented 115 entries from 22 countries. Since the launch of the awards, nearly 950 initiatives have been presented and more than half received an award, saving more than 50,000 tonnes of CO2.

In particular, the awards recognised five initiatives in the following categories:

  • REAL ESTATE: ALD Belgium for the installation of new car-wash stations with a water recycling and filtering unit, making it possible to recycle 90% of the water used;
  • CIRCULAR ECONOMY: the Societe Generale Assurance teams, for the recycling of touch-screen tablets;
  • MOBILITY: Societe Generale Morocco, for their use of electric scooters;
  • PAPER CONSUMPTION: the Americas Business Unit, for their printing reduction initiative and the use of recycled paper;
  • IT: IT teams in India for their server modernisation and optimisation plan.

Energy sobriety

The energy crisis has highlighted the need to review our individual and collective practices around the world.
In France, the signing of the EcoWatt charter and eco-responsible actions encouraging us all to adopt the right reflexes in everyday life, especially during the winter months.