Sustainable and Positive Impact Finance: A Societe Generale commitment
Feature interview with Pierre Palmieri by Michèle Hénaff, published in La revue Analyse financière (Financial Analysis report)
Article published in La revue Analyse financière (Financial Analysis report) from Financial Analysts French Association (Société française des analystes financiers – SFAF). Edition #67 – April – May – June 2018. www.sfaf.com
Societe Generale has developed a consolidated Sustainable and Positive Impact Finance offering that integrates environmental and social expertise. The initiative is in line with both the Group’s CSR policy and climate objectives.
We want to contribute to raising €100 billion in energy transition financing between 2016 and 2020 by drawing on our key expertise in renewable energies and green bonds.
What is Societe Generale’s position with respect to sustainable finance?
The finance sector has a key role to play to develop a more inclusive and sustainable economy. Societe Generale, as the originator of the concept of “Positive Impact Finance”, which is part of the United Nations Environment Programme - Finance Initiative (UNEP-FI), is continually stepping up its commitment to strengthen the economic, social and environmental aspects of sustainable finance solutions.
This pioneering spirit has inspired us to develop a consolidated “sustainable and positive impact finance” offering in our Global Banking and Investor Solutions businesses which integrates the Bank’s environmental and social (E&S) expertise across a broad range of innovative financial solutions.
The initiative is fully aligned with the Group’s proactive corporate social responsibility (CSR) policy, and will make a significant contribution to achieving the Group’s climate objectives announced at the end of 2017.
What exactly are these objectives?
We want to contribute to raising €100 billion in energy transition financing between 2016 and 2020 by drawing on our key expertise in renewable energies and green bonds.
In renewable energies, the bank will help contribute €15 billion to the sector through advisory services and financing. With over 10 years’ experience in the sector, recognised leadership as well as double-digit growth in the business in 2017, we have all the necessary skills and rigour to help sector players develop responsible energy solutions.
In green bonds, the Bank aims to lead (or co-lead) green bond issues for a nominal amount of around €85 billion. To achieve this, we have a single platform of long-standing E&S expertise combined with our structuring and distribution skills on the debt capital markets.
In 2017, Societe Generale co-led 14 new green bond issues, ranking it 2nd in Europe and 7th worldwide, all currencies combined (source: Bloomberg League Tables at 31 December 2017).