Société Générale International Limited (FIMFR)

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ESG Profile

The Group’s actions are guided by its corporate purpose which is "Building together, with our clients, a better and sustainable future through responsible and innovative financial solutions". With its 2023-2026 strategic plan the Group ambitions to be rock solid and sustainable top tier bank.

The Group’s ESG ambition breaks down into four strategic priorities: supporting clients with their environmental transition, making a positive contribution to local communities, being a responsible employer and nurturing a culture of responsibility and accountability across all businesses.

The Group has made progress in the roll-out of its ESG strategy with:

• the strengthening of its contribution to sustainable finance: having delivered its 2022-2025 EUR 300 billion sustainable finance target ahead of schedule, Societe Generale is setting a new EUR 500 billion sustainable finance target, a major portion of which will support dedicated transactions in low-carbon energy, sustainable real-estate, low-carbon mobility and other industry and environmental transition topics.
• the acceleration of the reduction of fossil fuel exposure and progress achieved on the on-going alignment of its credit portfolios. Societe Generale targets an 80% reduction in its Oil and Gas upstream exposure by 2030 vs. 2019 with an intermediary milestone at -50% by end of 2025. This comes with an absolute reduction target for GHG across the entire Oil and Gas chain of -70% by 2030 vs. 2019. The Group has also completed work on 12 of the most carbon-intensive sectors as defined by the Net Zero Banking Alliance (NZBA) initiative, which led to set alignment targets on 10 sectors in line with the established timetable. The Group reports on its credit portfolio alignment work in its dedicated progress report: NZBA Progress Report.
• the ambition to invest in the future with the development of innovative solutions and partnerships with a EUR 1 billion energy transition envelope dedicated to emerging leaders, nature-based and impact-driven solutions and the implementation of a collaboration agreement with the IFC, a member of the World Bank. Being a responsible employer is one of the priorities of the Group which announced its ambitions in terms of diversity, equity and inclusion as part of its 2023-2026 strategic plan, with the following objectives:
  – increasing of the representation of women in senior management positions of the Group with more than 35% of women in the Top 250 by 2026
  – reducing potential pay gaps between women and men within the Group by 2026 with a budget of EUR 100 million between 2024 and 2025

Fostering a culture of performance and accountability is also a priority for the Group.