Responsible Finance
Published on 16/03/2018
Focus on our sustainable sourcing practices

Focus on our sustainable sourcing practices

The Sourcing network is a major player in the Corporate Social Responsibility (CSR) strategy of Societe Generale group, reflecting its values and working to ensure that the Environmental and Social commitments are achieved. Begun in 2006, the Group's Sustainable Sourcing Policy is realised through long-term action plans involving all the stakeholders of the value chain (requestors, buyers and suppliers).

Our commitments in terms of responsible sourcing

Since 2007, Societe Generale has been strengthening its approach to responsible purchasing every year. Through the signing of charters and pacts the Group further proves its commitment.

See the key dates of our sourcing policy

Our responsible sourcing actions plan: the 2023 Positive Sourcing Program

Logo Positive Sourcing Program 2023
So that the practices of the Group remain a reference in sustainable purchasing, the Sourcing Division has implemented the 2021- 2023 PSP, in line with its the aims of the 2018-2020 PSP. This sixth actions plan will strengthen the achievements of the previous Positive Sourcing Program and has two goals:
  • Implementing the CSR Vigilance Plan;
  • Promoting positive impact purchasing strategies

To support this plan, the section of the Societe Generale Code relating to Responsible Purchasing defines the measures to control environmental and social risks that must be deployed across the Group.

The PSP is part of the implementation of the Global Agreement on Fundamental Rights signed with UNI Global Union showing the Group's intent to implement the agreement across all Group entities.

The implementation of the PSP is also one of the commitments made by the Group as part of the Supplier Relations and Responsible Purchasing label requirements. This label, issued jointly by the Médiation des entreprises (French business mediation office) and the Conseil National des Achats (French national procurement council) certifies that a company's organissation and management comply with the objectives and commitments defined by the requirements of the label. The label is aligned with the ISO 20400 "sustainable procurement" international standard. After signing the Responsible Supplier Relations Charter, Societe Generale was first certified with the label in 2012 and received a renewal for a further 3 years at the beginning of 2019.

CSR Vigilance Plan
Along the years, the practices of Societe Generale have been enhanced in order to automatically take into account the environmental and social aspects inthe purchasing process.
Discover the measures taken to improve CSR risk management during the sourcing process

Promoting positive impact purchasing strategies 
As part of the 2023 Positive Sourcing Program and in line with the 2020 PSP, 3 priorities have been defined:

PRIORITY 1: Supplier relations
The Sourcing Division aims to be exemplary in its relations with suppliers, and to increase the inclusion of CSR in its relations.

Furthermore, in the event of any disagreement not settled with the Buyer, Societe Generale encourages mediation as the preferred method of resolution. Since 2010, the General Secretary of the Group has been the Internal Mediator and can be contacted by mail or email:
Societe Generale
Médiateur interne des relations fournisseurs
Tours Societe Generale
75886 Paris Cedex 18

PRIORITY 2: The climate
The Group is committed to energy transition and the circular economy, and by joining as a founding member the Net-Zero Banking Alliance, shows the ambition to achieve carbon neutrality by 2050. For Societe Generale own account activities, this means the development of “Green” IT, the improvement of the energy performance of buildings and the improvement of the environmental performances of all the products and services purchased by the Group.

PRIORITY 3: The Social Economy Sector (SES)
For the 2021-2023 time period, Societe Generale in France has the objective to increase spending with suppliers from the Social Economy sector to reach 14 million euros per year (vs. 10 million euros in the previous PSP). In addition to the increased involvement with the sheltered sector, the Positive Sourcing Program extends the scope of action to partnerships with “social integration” companies and other players of the Social Economy Sector.