Société Générale: joins fight against global warming
(CercleFinance.com) - Société Générale (SG) is a founding signatory of the Principles for Responsible Banking and joins the Collective Commitment on Climate.
The group is making a significant contribution to achieving the UN's SDGs and Paris Agreement targets with new commitments.
SG commits to raising 120 billion euros for the energy transition between 2019 and 2023 (100 billion euros in sustainable bond issues and 20 billion euros dedicated to the renewable energy sector in the form of advice and financing).
The Group will gradually reduce its exposure to the thermal coal sector to zero, by 2030 at the latest for companies with assets in the EU or OECD countries and by 2040 for the rest of the world.
"As financial advisors and providers, banks have a crucial role to play to contribute to the development of low-carbon and inclusive solutions and new business models. I believe that a robust international coalition and common frameworks such as the Principles for Responsible Banking are the right answer to act both collectively and individually to pave the way for a sustainable future and deliver the significant results that we all aim for.” said Frédéric Oudéa, CEO of Societe Generale," said Frédéric Oudéa, Société Générale's CEO.
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