CSR

A responsible Group

Our Group has a leading role to play in helping build greener and more inclusive development models, and enabling the emergence of new drivers of sustainable growth. Social responsibility is at the heart of Societe Generale group’s corporate purpose: “Building together, with our clients, a better and sustainable future through responsible and innovative financial solutions.”

We have identified the four key and interconnected areas of our Corporate Social Responsibility (CSR) ambition. Two of the pillars form the framework of responsible banking: a culture of responsibility and being a responsible employer. The other two areas are the springboards for positive transformations driven by the Group’s actions as a responsible bank: supporting the environmental transition and having a positive local impact.

Climate commitments

Societe Generale is committed to aligning its portfolios with trajectories in line with the objective of the Paris Agreement, addressing the most carbon-intensive sectors as a priority, and setting intermediary targets, such as:

• Oil & Gas:
  • reduction of upstream Oil & Gas exposure, reaching -80% by 2030 vs. 2019, with an intermediary 2025 step of -50%;
  • target on absolute GHG emissions scopes 1, 2 and 3  of -70% by 2030 vs. 2019;
• Power generation:
  • target on the carbon intensity of the electricity production sector at 125g of CO₂ per kWh in 2030, i.e. -43% vs 2019;
• Thermal Coal:
  • complete phase-out by 2030 for EU and OECD countries, by 2040 for the rest of the world;
• Cement: 
  • target on the carbon intensity of the cement production sector at 535kg of CO₂ equivalent per ton of cement by 2030, i.e. -20% vs 2022;
• Automotive: 
  • target on the carbon intensity of the automotive sector of 90g of CO₂ equivalent per km traveled per vehicle by 2030, i.e. -51% vs 2021;
• Steel:
  • target to align the portfolio of crude steel producers with the IEA NZE scenario based on the methodology developed by the Sustainable Steel Principles (i.e., reach an alignment score of 0 by 2030);
• Commercial Real Estate
  • target on the carbon intensity of the commercial real estate sector of 18kg of CO2e/sq m by 2030 (based on Societe Generale current portfolio mix), i.e. a reduction of 63% compared to 2022.
     

Societe Generale supports its clients in the transition, through dedicated solutions, and a commitment to contribute to sustainable finance with €300bn by 2025.

Societe Generale has launched a EUR 1bn transition investment fund, including an equity component of EUR 0.7bn, to support the emergence of new actors and new technologies. The initiative will focus on energy transition, nature-based solutions and impact-driven opportunities which support the UN’s Sustainable Development Goals.

Societe Generale is committed to decrease of its operations carbon emissions by -50% between 2019 and 2030.

Over 20 years of commitment to the environmental transition

• 2022: Aviation Climate-Aligned Finance Working Group, Aluminium Climate-Aligned Finance Working Group, Sustainable STEEL Principles
• 2021: UNEP-FI Net-Zero Banking Alliance & NZAO, Steel Climate Aligned Finance Working Group
• 2020: PACTA for Banks, Hydrogen Council
• 2019: United Nations Principles for Responsible Banking and Collective Commitment to Climate Action, Getting to Zero Coalition, Poseidon Principles 
• 2018: Climate Bond Initiative, ICMA Green Bond Principles, Katowice Commitment
• 2001-2017: Positive Impact Initiative, CDP, Equator Principles and Soft Commodities Compact

Societe Generale is currently included in the main sustainability indices:

• DJSI (Europe)
• FTSE4Good (Global and Europe)
• Bloomberg Gender Equality Index
• Refinitiv Diversity and Inclusion Index
• Euronext Vigeo (Europe and Eurozone)
• STOXX Global ESG Leaders indices
• MSCI Low Carbon Leaders Index (World and Europe)

The Group is also present in a significant number of SRI (Socially Responsible Investment) funds.

Diversity, equity and inclusion

Because fighting against all forms of discrimination is a question of fairness, equality and respect, but also of performance, Societe Generale defends the values of diversity and inclusion in the workplace every day. Our ambition is to be recognised as a company where everyone can feel free to be themselves, without hiding or conforming.

• 126,000 employees
• 152 nationalities
• 65 countries
• 54% women
• 52% outside of mainland France
• 40 average employee age
• 2,590 employees have disabilities
• 86/100 POINTS Gender Equality Index score

Focus on Diversity, equity and inclusion

On the road to sustainable mobility

In the mobility sector, the Group is seizing the new opportunities offered by changes in the automotive industry. Ayvens (formerly ALD Automotive I LeasePlan), the Group’s subsidiary and the global sustainable mobility player, is resolutely committed to shaping the future of mobility and lead the way to net zero. This is being achieved by developing a fleet with a growing number of Electric Vehicles (Battery Electric Vehicles – BEV, Plug in Hybrids and Fuel Cell – PHEV), and by acting as a responsible advisor, encouraging clients to reduce the environmental footprint of their fleets.

• #1 largest multi-brand EV fleet worldwide
• Aims to significantly reduce the CO₂ emissions of its running fleet to less than 90g/km on average by 2026 vs. 112g in 2022
• Target of 50% of new car deliveries to be electric vehicles in 2026, i.e. 40% will be BEV and 10% will be PHEV, representing a strong increase from 28% in 2022 

Starting from a solid foundation, building on the decades-long legacies of two automotive leasing leaders ALD Automotive and LeasePlan, Ayvens’ ambition is to become the global leader in sustainable mobility, actively supporting economies and clients in the energy transition.