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Société Générale: strengthens environmental commitments

(CercleFinance.com) - In a statement released after trading on Friday, Société Générale announced new provisions as part of its commitments against climatic change.

The bank is thereby extending commitments made under COP 21.

"In a responsible manner, and with the will to reinforce our commitment, we have decided to take strong new measures in favour of a less carbon-intensive economy, with on one hand the objective to contribute to raising E100 billion in financing for the energy transition by 2020 and, on the other hand, the strengthening of our sectoral E&S Oil and Gas policy," said Frédéric Oudéa CEO at Société Générale.

Other major commitments announced by the Group include: the group's withdrawal from the oil sands sector worldwide, in addition to oil in the Arctic. Finally, SG pledges to cut carbon emissions per employee by 25% by 2020 (relative to 2014).

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