Societe Generale Best French Bank in RobecoSAM’s CSR ranking
For the first time, Societe Generale has been classed Best French Bank in RobecoSAM’s CSR* ranking. The Group was ranked eighth out of the 133 European banks included in the study, and remained in the top ten in Europe for the third consecutive year. In 2018, the Group also received the following rankings from other extra-financial ratings agencies: “A” by MSCI, “Outperformer” by Sustainalytics and “Prime” by ISS-Oekom.
“In this period of profound change we are experiencing, we are committed to an approach supporting the positive transformations of our clients and all of our stakeholders. CSR matters are at the heart of our Transform to Grow strategic plan. As external indicators, these results are proof of the growing integration of CSR issues in the development of the Bank’s activities.” said Diony Lebot, Deputy Chief Executive Officer of Societe Generale group.
These extra-financial ratings agencies, which are external and independent, evaluate the largest companies in the world using economic, governance, environmental and social criteria. They are often used as reference points by fund managers looking to invest in companies that are leaders in sustainable development. Reflecting the importance of CSR policy in our strategy, the RobecoSAM ranking is one of the indicators in the calculation of profit sharing awarded in France and the variable remuneration of Management Committee members.
Within the framework of our CSR ambition, the Group is committed to further progress in three areas :
From an economic standpoint, Societe Generale aims to share the highest standards of governance and ethics. Our Culture & Conduct programme, which covers all the Bank’s business lines, staff, managers and directors, enables us to develop the values and culture of the company. As an example, this year over 100,000 members of staff worldwide have taken part in 20,000 dedicated workshops.
With regards to environmental policy, and as an extension of the commitments made at the COP 21, Societe Generale has implemented a proactive climate policy, which aims to align its activities with the goals of the International Energy Agency (IEA) by 2020 to limit global warming to 2°C. At the end of 2017, the Group decided to take further strong measures to promote a less carbon intensive economy, including contributing to raising €100 billion in financing for the energy transition by 2020 and strengthening our Oil and Gas sector E&S policy. To date, half of this financing has already been raised. Beyond stopping financing dedicated coal projects, the Bank is withdrawing from the oil sands sector worldwide and from the oil sector in the Arctic. We are proactively reducing our per-employee CO2 emissions by 25% between now and 2020 and will continue to play a driving role in sustainable development and low carbon operations in Africa.
In terms of social commitment, we are classed first in France and second in Europe by RobecoSAM. Once again, the Group has a proactive policy with targets that cover working conditions, staff employability and engagement, and the promotion of diversity. We were awarded the maximum score in the RobecoSAM ranking for our citizenship and sponsoring activities.