Societe Generale, a European financial group, has reaffirmed its commitment to advancing the environmental transition, aligning with its proactive ESG policy outlined in its strategic roadmap. As part of this effort, the bank has announced a new target of €500 billion ($520 billion) in sustainable finance by 2030, reflecting its ongoing dedication to supporting a low-carbon economy.
Having already achieved its €300 billion sustainable finance target for 2022-2025 ahead of schedule, Societe Generale now sets a more ambitious goal of €500 billion for 2024-2030. The new target includes €400 billion ($416 billion) in financing and advisory services, and €100 billion ($104 billion) in sustainable bonds, of which approximately 80% are allocated to environmental activities and 20% to social activities.
This financing will focus on low-carbon energy, sustainable real estate, low-carbon mobility, and other environmental transition initiatives. The target also aligns with the bank’s decarbonization objectives for its most carbon-intensive credit portfolios.
Slawomir Krupa, Chief Executive Officer of Societe Generale said, “Societe Generale continues to strengthen its contribution to sustainable development in the service of its clients, supported by our culture of innovation, our ESG leadership, and our conviction of the crucial role that a responsible bank can play in the challenges of the environmental transition. This year, we have taken new steps in the execution of our strategic roadmap with concrete progress reflected in the progressive reduction of our fossil fuel exposure. We are also continuing to broaden our action by proactively supporting our clients in their own transitions with adapted solutions and an enhanced sustainable finance offering, while supporting the emergence of new players and new technologies. I remain convinced that the transition to a low-carbon and sustainable economy requires collective and coordinated action in which Societe Generale is involved on a daily basis.”
