The Societe Generale Group develops its business in a spirit of respect for fundamental human and workers' rights and respect for the environment wherever it operates.
In synergy with Societe Generale group initiatives, SG Luxembourg is strongly committed to innovation and sustainable development with the support of our Board and collaborators.
Our CSR strategy, expanded in 2019, comprises 4 axis: promote sustainable investment solutions, develop positive impact finances, natively integrate the CSR dimension in our risk management framework, and actively pursue our engagement as a responsible corporate.
With such strategy, we contribute to a greater sustainability of the Luxembourg economy and society at large.
Arnaud Jacquemin, CEO SG Luxembourg
As Director for Corporate Social Responsability at SG Luxembourg, my ambition is to coordinate and support the Group’s CSR transformation, making it a major competitive advantage for business development as well for environmental and social risk management.
Xavier Blouin, CSR Director SG Luxembourg
Best banking Group worldwide for the environment (2019)
RobecoSAM's annual sustainability ranking puts Societe Generale Group in 1st place worldwide on environmental matters and 6th place in Europe for all ESG (Environmental, Social and Governance) factors, out of the 175 banks analysed.
"These results are proof of our determination to incorporate our CSR policy into the Group’s strategy to continue making a positive contribution in meeting environmental and social challenges."
Diony Lebot, Societe Generale Group's Deputy CEO
A partner of positive transformations
Responsibility, Commitment, Positive Transformations. Find out more by watching Societe Generale group's corporate and CSR film.
Integrated Report 2019-2020
Societe Generale group has published its third Integrated Report. Inspired by the guidelines of the reference framework published by the International Integrated Reporting Council (IIRC), this Integrated Report presents the Group’s long-term vision and strategy, its business model and model of value creation. It describes the Group’s activities and results for the financial year 2019 with a view to enhancing dialogue around our commitments with all our stakeholders, in a proactive process of transparency and progress.
Find out about our CSR commitment
Being one of the oldest banks in Luxembourg, we have a particular responsibility as a Corporate entity as well as a leading banking group to promote a sustainable development of Luxembourg and sustainable finance more globally. This is why responsibility is one of the four values of our shared “leadership model”, together with team spirit, innovation and commitment. In order to achieve this goal, we acted collectively in 2019 to launch a CSR strategy focused on our engagement as a Corporate and as a Bank.
For more details on our corporate social responsibility, please visit our CSR website.
Find here all the regulatory documents related to our CSR policy:
Our engagement as a corporate
PROMOTING WELL-BEING AT WORK
SG Luxembourg considers employees’ well-being to be a long-term driver of performance and critical to its attractiveness, effectiveness and sustainability. The Group has therefore implemented over the past years several key initiatives to enhance well-being at work such as:
- Promoting efficient working methods such as a flexi-time policy;
- Homeworking: among over 1,500 employees in Luxembourg, close to 400 of them have adopted regular homeworking.
PROMOTING GENDER EQUALITY AND INTERNATIONAL DIVERSITY
Gender equality is a top objective of SG Luxembourg and its management. SG Luxembourg signed the Luxembourg Diversity Charter in 2013, and is a longstanding participant to the Diversity Day Lëtzebuerg. Accelerating international diversity, an important challenge for an international bank, is our second top objective. Many initiatives have been implemented in this area.
In the continuity of its past actions, SG Luxembourg renewed in 2019 its support to the associations “Special Olympic Luxembourg” and “Back to Sport”. Taking the opportunity of client events such as “Golf Tournament”, SG Luxembourg also partnered with Foundation Croix Rouge Kannerhaus Jean. For the fifth year, private bankers have also decided to draw on their skills and visit Luxemburgish schools during the March “Financial Education Week” in order to give school pupils a better understanding of personal finance matters and install good habits in terms of budget management. Since January 2018, a “Payroll giving” initiative allows staff to contribute to the association PADEM (Programme d’Aide et de Développement aux Enfants du Monde) and its project Eclaireurs et Eclaireuses du Sénégal. In 2019, and following a presentation to our Board of our renewed CSR strategy, SG Luxembourg took the initiative to launch a CSR Community open to all of our people concerns by sustainable matters. Nearly 150 employees are now members of the Community, an amazing proof of their commitment.
PATRONAGE AND SPONSORSHIP
Societe Generale Luxembourg's patronage and sponsorship strategy follows the Group's policy, with a particular focus on rugby, modern and contemporary art and socially-responsible sponsorship.
Our commitment to sport reflects Societe Generale's values: commitment, responsability, team spirit and innovation. It is important to show loyalty, build trust and maintain relations with our partners and clients, year after year.
Besides golf, disabled sports and bridge, Societe Generale's main sporting commitment is to rugby, through its partnership with the French Rugby Federation, the French national team and the National Rugby League. Its involvement now extends beyond France's borders. For example, we have sponsored the Luxembourg Rugby Federation since 2003. Societe Generale was an Official Partner of the Rugby World Cup 2019 held in Japan.
Find out more: Luxembourg Rugby Federation
The Societe Generale contemporary art collection was launched in 1995 and now boasts nearly 400 original works and 750 lithographs, prints and serigraphs. Structured around three main media - painting, sculpture and photography - it houses the work of well-known artists and up-and-coming creators. By offering an overview of contemporary artistic creation, the Societe Generale collection combines an educational approach and an ambitious policy of corporate patronage.
Find out more: Societe Generale Collection
Through the Mécénat Musical Societe Generale association, which was launched near 30 years ago, the Group adapts its sponsorship policy to the changing needs of classical musicians (sponsoring orchestras and ensembles, lending instruments to young musicians, providing grants, supporting educational projects, etc.).
Find out more: Mécénat Musical Société Générale
Societe Generale is convinced that it has a major role to play in society, and that the nature of its business puts it firmly at the heart of economic and social progress. As a result, the Group permanently supports socially-inclusive initiatives across France and internationally. The Societe Generale Corporate Foundation for Solidarity works to encourage social inclusion through employment by helping young people find their first jobs and fighting illiteracy.
Talents & Partage is the charity of current and retired employees of Societe Generale Group. Each year, several hundred volunteers donate their time to support the charity's initiatives. Talents & Partage also provides financial support to humanitarian projects chosen by its volunteers. The Talents & Partage Luxembourg branch has helped ensure the success of initiatives taken by current and retired employees.
Find out more: Talents & Partage
SG LUXEMBOURG ACTS FOR CLIMATE AND ENVIRONMENT PRESERVATION
Like each corporate, SG Luxembourg generates environmental impacts through its activity. SG Luxembourg is well-aware of its responsibility and therefore was pioneer in this matter by taking the decision, 10 years ago, to reduce its CO2 emissions by :
- Continually enhancing the energy performance of its buildings: the boulevard Royal complex Carrefour is certified under BREEAM (Building Research Establishment Environmental Assessment Methods) and the ambitious project “Arsenal”, our new headquarter to be finalized in 2022, will follow several principles such as well-being at work, circular economy, low energy and water consumption ;
- Encouraging our people to take the city bus service or use e-bikes (in partnership with ALD Automotive) ;
- Saving paper : an increasing number of initiatives such as “FollowMe” printing, paperless workflows and client records as well as electronic archiving are continuously improved to rationalize paper consumption. As an example of our commitment, the Group’s paper print has again decreased by 35% in 2019 ;
- Producing a CSR questionnaire for suppliers to assess their social and environmental policy ;
- Helping the Institut pour le Mouvement Sociétal (IMS) by participating to their initiatives as “knowledge sharing”, Diversity day (as a Gold Sponsor) or Luxembourg Sustainability Forum ;
- Signing early 2019 a Zero Plastic Manifesto with the Institut pour le Mouvement Sociétal (IMS).
Our engagement as a Bank
PROMOTE SOCIALLY RESPONSIBLE INVESTMENTS
We are convinced that a strong ESG policy will be synonymous of a sustainable superior financial performance. In Private Banking, our clients have access to bespoke SRI portfolios which combine financial performance with a positive social and environmental impact. Clients can measure the environmental, social and governance (ESG) performance of their portfolio via dedicated ESG reporting.
Furthermore, a dedicated team has developed a full range of structured positive impact finance (PIF) products with a charity dimension. Private Banking also support investors in organizing their philanthropic projects and defining their philanthropic strategy and objective for each donation, set up a budget and payment plan and measure the impact.
SGSS continues to promote to their institutional clients an ESG reporting solution, a system for measuring the impact of investment strategies on the environment and society. Its objective is to help investors and asset managers to better integrate ESG criteria into their investment decisions.
DEVELOP POSITIVE IMPACT FINANCING
SG Luxembourg is thriving to play a major role by promoting of Positive Impact Finance in the country together with partners like Luxembourg For Finance (LFF) or the Association des Banques et Banquiers du Luxembourg (ABBL).
INTEGRATE THE CSR DIMENSION IN OUR RISK MANAGEMENT FRAMEWORK
Accompanying the evolution of the regulation, in particular in Europe, SG Luxembourg is focusing on :
- Improving existing risks mapping with environmental and social risk dimension ;
- Updating tools and risk evaluation procedures ;
- Educating our stakeholders on this dimension;
- Updating its governance accordingly.