It looks positive for renewables, particularly as we enter the wider energy transition beyond just power, according to Allan Baker, head of Energy Advisory & Project Finance Emea at Societe Generale and a member of the ‘Is the Energy Transition Accelerating?’ panel arranged over webcast by The Petroleum Economist on 4 June 2020.

A series of offshore wind and floating solar projects that support policymakers’ energy transition goals are creating opportunity for local and global companies in Taiwan, supported by Societe Generale.

Despite the long-standing debate that Environmental, Social and Governance (ESG) investment drivers are broadly categorized into two buckets:  

More than ever, the current Covid-19 pandemic has shifted the spotlight to climate change, inspiring corporates and governments alike to make a renewed push for greater climate resilience in this region and the rest of the world.

A new enlarged and modernized sorting center will treat all waste from the Drôme and Ardèche departments in one single place from September 2021. Benefiting from Veolia's know-how and funding from Societe Generale, the center will be able to recycle all plastic packaging, in accordance with the Energy Transition for Green Growth Act, to be complied with by 2022.

Supported by Societe Generale, EDF Renouvelables, Enbridge and wpd start the construction of an offshore wind farm off Fécamp, for a total investment estimated at 2 billion euros. This major project should generate enough annual electricity to meet the power needs for 770,000 people and generate significant economic benefits for the region.

In May, BASF issued the first green bond in the European chemicals sector with the help of Societe Generale. Proceeds will be used for several green projects, including the production of electric vehicle batteries and accelerator products.

Elecnor, the Spanish infrastructure, energy and telecommunications group, has recently entrusted Societe Generale to act as fronting and issuing bank of its first Eur70 million green guarantee facility.

SFIL, through its Covered Bonds issuer CAFFIL, successfully launched a social bond issue of one billion euros with a five-year maturity. Supported by Societe Generale, the proceeds of this first Covid-19 related bond will be used to finance public hospitals, whose additional costs linked to the current health crisis are constantly increasing.

Unédic issued its first Social Bond to a welcoming market that was undeterred by the lack of a government guarantee for France’s social security agency and enthused by a format that is rapidly becoming as popular as green bonds.

By Daniel Mallo, Head of Natural Resources & Infrastructure, Asia Pacific, Societe Generale

Marubeni sponsored two first-of-a-kind renewable energy projects, including an offshore windfarm in Japan and a floating solar project in Taiwan, expanding its renewable energy generation business and contributing to energy transition in the region.

Neoen announced the launch of the first ever Green Convertible Bond in Europe (“OCEANE verte”), maturing in 2025 and for a nominal amount of 170 million euros. Accompanied by Societe Generale, this announcement is another step forward in strengthening Neoen’s commitment to be at the forefront of sustainable finance.

Izmir, Turkey’s third-largest city, is receiving a new funding boost, despite the coronavirus pandemic, as Societe Generale is joining the European Bank for Reconstruction and Development (EBRD) in financing the expansion of the city’s metro network.