Societe Generale Corporate & Investment Banking innovates with a new socially responsible deposit offer for corporates
Societe Generale Corporate & Investment Banking (SG CIB) announces the launch of the first socially responsible cash deposits offer dedicated to corporates, which are paying increasing attention to environmental and social (E&S) issues.
With this new offer, the deposits placed by corporate clients with Societe Generale will be dedicated to short-term financing originated by the bank and which meet stringent E&S criteria.
The financing is selected according to a methodology which includes compliance with Societe Generale’s internal policies & "Know Your Customer" procedures*, the exclusion of specific sectors and consideration of the ESG (Environmental, Social and Governance) ratings assigned by Societe Generale Cross Asset Research team which is dedicated to these issues.
These socially responsible deposits can be made overnight or for a period of one, three, six or twelve months.
Mireille Cuny, Global Head of Liquidity Solutions and Investment for corporates commented "This solution illustrates Societe Generale’s effort to inform corporates about socially responsible investments and to advise them in their investment strategies by developing an offer that responds to their current concerns in the financial environment in which they operate."
This new offer reinforces SG CIB’s commitment in favour of socially responsible solutions for corporates, both in terms of investment and financing.
The bank is also involved in the development of the green bond market. SG CIB recently participated in the issuance of the first green bond by a European issuer rated in the high yield category: the Spanish company Abengoa thus raised € 265 million and $ 300 million on September 24 2014.
* By implementing its Environmental and Social (E&S) general Principles, Societe Generale conducts its business globally with the utmost respect for fundamental human and workers’ rights and according to the following values and principles: the Universal Declaration of Human Rights and associated covenants, the main conventions of the lnternational Labour Organisation, the UNESCO World Heritage Convention and the OECD Guidelines for Multinational Enterprises. The E&S general principles forms a general framework and also includes a number of sectorial & transversal policies which refer to international initiatives and best practices and aim at controlling E&S impacts in sensitive sectors.
All details in the Corporate Social Responsibility section on www.societegenerale.com