Framework - Societe Generale's commitments
Societe Generale Commitments Framework
As an EP Financial Institution (EPFI), Societe Generale has committed to implement the EP in its internal E&S policies, procedures and standards and to refrain from providing loans falling within the scope of the initiative which do not comply with the EP. This strong commitment is supported by robust internal procedures, tools and competence.
Societe Generale has developed Group’s Environmental and Social (E&S) General Guidelines and a set of 12 sector and cross-sector E&S policies appended to them which refer to EP commitments. These E&S General Guidelines have been formalized in a Directive signed by the Chief Executive Officer.
In order to enable implementation of these E&S commitments throughout the organization, procedures have been set at the Group level (Instruction) signed by Corporate Secretariat. These procedures cover the E&S evaluation of both our clients and the dedicated transactions conducted with our clients. As such, EP transactions are run through these procedures.
Societe Generale procedures for E&S evaluation and the Group implementation of the Equator Principles have been subject to an external audit by the independent third-party body EY in accordance with the working draft of the Guidance Note on External Review of Equator Principles Implementation2.
2 EP internal Guidance Note