Long-standing Environment & Social commitments
Societe Generale began to take environmental and social concerns into account in its activities in 2000 and its commitment to a greener and more inclusive economy has grown continuously ever since.
To reinforce its CSR policy, which incorporates 12 sector and inter-sector policies, the Group has made a series of climate-protection commitments since the COP 21 Climate Conference of 2015. It is involved in a number of private-sector and industry-wide initiatives (for example as a signatory of the Equator Principles). Societe Generale also participates in United Nations programmes such as the UNEP Finance Initiative (UNEP-FI) and the Global Compact. It played a pioneering role in defining and applying the Positive Impact Manifesto within the UNEP-FI. This is an innovative project that aims to establish a common language shared throughout the financial industry and among other stakeholders such as public sector institutions, companies and development agencies. It marks a key milestone that will facilitate the raising of private funds, which are needed to achieve the sustainable development goals set by the United Nations, in particular by improving transparency for investors.
UNEP Principles for Positive Impact Finance
Nearly 20 leading global banks and investors, totalling $6.6 trillion in assets, launched on 30 January 2017 the Principles for Positive Impact Finance - a first of its kind set of criteria for investments to be considered sustainable. The Principles provide financiers and investors with a global framework applicable across their different business lines, including retail and wholesale lending, corporate and investment lending and asset management.
Séverin Cabannes Deputy Chief Executive Officer of Societe Generale
The Principles for Positive Impact Finance provide an ambitious yet practical framework by which we can take the broader angle view we need to meet the deeply complex and interconnected challenges of our time.
Why is Singapore leading Asia into a Sustainable and Profitable Future
After years of staying in the shadows of developed nations, Asia, which accounts for 60 percent of the world’s population and a similar proportion of global economic growth, is poised to take the lead in tackling some of the most urgent issues of our time, including climate change, economic inequality and mass migration, through Positive Impact Finance.
Sustainable finance comes of age in Asia: Vigeo Eiris
An ideal alignment of market forces and social trends are helping Asia make significant strides towards capitalising on the huge potential of Sustainable Finance, according to Juliette Macresy, Head of Greater China and Southeast Asia Markets, at Vigeo Eiris, a leading global environmental, social and governance (ESG) research and analysis firm.
Positive Impact Finance in Asia
Positive Impact Finance may put the common good before self-interest but it need not come at the expense of running a profitable enterprise or securing returns on investment – especially in Asia, which is set to be a wellspring of sustainable finance opportunity. These key tenets were driven home by panel experts at Societe Generale’s inaugural Asian Sustainable and Positive Impact Conference, held in Singapore on 5 July 2018.
Positive Impact Finance pioneers
Societe Generale successfully issued the second Positive Impact Bond. These proceeds will be used to fund new renewable energy projects in order to contribute to the fight against climate change. The issuance of this bond is a continuation of Societe Generale’s commitments presented at the COP21 in Paris in 2015.
Success of the first major climate-friendly Green Bond
The French Republic has issued on 24 January 2017 its first and emblematic sovereign green bond, for a record raise of 7 billion euros with a maturity of 22 years, thus becoming the first country in the world to issue a sovereign green benchmark bond, both in terms of its size and maturity.
Positive Impact Finance - The next steps
Develop a set of Positive Impact Principles that will guide providers of financial services in their efforts to increase their positive impact on the economy, society and the broader environment.
Establish a Positive Impact Incubator where new business models and financing approaches can be tested by financiers and corporates to improve the bankability of positive impact transactions.