The Equator Principles is a risk management framework adopted by financial institutions, for determining, assessing and managing E&S risk in projects.
Societe Generale considers the Environmental and Social (E&S) issues associated to its activities to better control their impact and promote good E&S practices. To this end, the bank has defined E&S General Guidelines, as well as E&S policies which set key standards and parameters for a responsible engagement. This E&S framework encompasses the initiatives of the banking sector that Societe Generale has joined, including the Equator Principles (EP) which the bank adopted in 2007.
Equator Principles Report
The objective of the Equator Principles Implementation Report is to share information with our stakeholders regarding how Societe Generale apply the Equator Principles. Annual public reporting is one of the commitments the bank has made when joining this initiative.
In 2019, 46 transactions, namely 35 project finance transactions, 2 project-related corporate loans, and 9 project finance advisory mandates falling within the scope of the Equator Principles III (2013), were closed. Among these transactions, 38% are related to renewable power projects, which account for 82% of Equator Principles financings closed in the power sector.
Scope of the Equator Principles
The Equator Principles apply globally, to all industry sectors and to four financial products: