Ethics and governance

Defining an ambitious ethical framework

The Group is particularly vigilant regarding its compliance with the regulations, internal rules and procedures and ethical principles that govern its activities. Societe Generale pays particular attention to the integrity of its practices; a critical asset in maintaining the trust of its clients, counterparties and regulatory authorities. Determined to ensure that each of its members of staff behaves with integrity, the Group has a Code of conduct that incorporates all the commitments guiding the behaviour and professional activity of its teams. This Code of conduct, validated by the Board of Directors, is divided into specific codes of conduct or charters notably governing fair practice, anti-corruption measures and fiscal probity. Since 2014, the Group has also promoted transparent and honest lobbying practices, as defined in a number of collective statements and charters, and published a Responsible lobbying charter for responsible representation to public authorities and representative institutions.

Governance

The Board of Directors, General Management and Executive Committee are the Societe Generale group’s three key governance bodies. The Board of Directors examines and approves the Group’s strategic orientations and ensures they are aligned with Societe Generale’s values and corporate purpose. It is also responsible for ensuring the Group meets the highest standards in terms of ethics and risk management. The General Management team manages the Company and acts as its representative with third parties; its mission notably consists in drawing up and executing the strategic plan to strengthen the Group’s long-term performance, with the Executive Committee’s support.

Adopting voluntary commitments

Responsible finance implies going beyond simply complying with laws and regulations. That’s why the Societe Generale group incorporates additional voluntary commitments within its ethical reference framework. 

The taking into account of the economic, social, environmental and ethical impacts of its operational and commercial activities is a key component of the Group’s CSR ambition. The Group has defined environmental and social (E&S) general principles that represent the general framework applicable to the Group’s activities in terms of complying with fundamental human rights and respecting the environment. The Group also defines E&S sectoral policies that reflect norms and standards applicable throughout the Group in sensitive areas in which it operates. This commitment mirrors the Equator Principles that define a CSR frame of reference shared by 94 financial institutions around the world, which the Group has adopted since 2007. In terms of protecting the environment and responsible finance, the Group participates in various coalitions and the enforcement of international banking standards, notably with the United Nations, such as the Principles for Responsible Banking in 2019 and the Net-Zero Banking Alliance in 2021.

Promoting all forms of human rights

Societe Generale is committed to respecting and promoting human rights, a core element of the Group’s E&S risk management process. The Group acknowledges the fundamental role played by States and governments in defining the legal frameworks for the protection and full exercise of human rights. The Group thus complies with the legal and regulatory provisions of the territories in which it carries out its activities and is also aware of its role in preventing serious human rights infringements in the exercising of its activities. In this respect, the Group acknowledges the value of the following standards, initiatives and best practices, which it uses as guiding principles:

• the Universal Declaration of Human Rights and related agreements; 
• the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP); 
• the fundamental conventions of the International Labour Organization (ILO); 
• the UNESCO World Heritage Convention; 
• the United Nations Sustainable Development Goals (SDD);
• and the United Nations Guiding Principle of Business and Human Rights of 16 June 2011.

The Group is active with regard to diversity, equity and inclusion issues. It has included, in its internal procedures, the principles upheld by the international charters and agreements to which it is a signatory.

For responsible data

The bank of innovation and digital, every day Societe Generale collects and analyses a substantial volume of data. Aware of the ethical challenges associated with the information society and in compliance with the applicable legal framework, it has made the protection and responsible use of its clients’ data an imperative in order to ensure their security and protect their confidentiality.