Potential offtaker

Societe Generale

www.societegenerale.com

Estimated electricity consumption

N/A

Countries of production presence

N/A

Societe Generale is a French multinational bank that operates in the diversified banks sector. The bank has a strong presence in Europe, Africa, and Asia and offers a range of financial services, including retail banking, corporate and investment banking, asset management, and insurance. Societe Generale has a long-standing commitment to sustainability and is actively working to reduce its carbon footprint and promote renewable energy.

Decarbonisation is a critical issue for Societe Generale, and the bank has set ambitious targets to reduce its greenhouse gas emissions. In 2019, the bank announced that it would reduce its direct and indirect emissions by 25% by 2025, compared to 2014 levels. This commitment is in line with the Paris Agreement's goal of limiting global warming to well below 2 degrees Celsius.

To achieve its decarbonisation targets, Societe Generale is implementing a range of measures, including energy efficiency improvements, renewable energy investments, and carbon offsetting. The bank is also working with its clients to support their decarbonisation efforts and promote sustainable business practices.

Corporate energy is another area of focus for Societe Generale. The bank is committed to reducing its energy consumption and increasing its use of renewable energy sources. In 2019, Societe Generale signed a power purchase agreement (PPA) with a wind farm in Spain, which will provide the bank with renewable energy for the next 10 years. The PPA will enable Societe Generale to reduce its carbon footprint and support the development of renewable energy infrastructure.

Corporate PPAs are becoming increasingly popular among companies looking to reduce their carbon footprint and secure a reliable source of renewable energy. Societe Generale is at the forefront of this trend and has been actively promoting corporate PPAs to its clients. The bank has also been involved in several high-profile renewable energy projects, including the financing of a wind farm in Morocco and a solar power plant in India.

Renewable energy is a key area of focus for Societe Generale, and the bank has a dedicated team of experts working on renewable energy projects. The bank has a strong track record in financing renewable energy projects and has provided funding for wind, solar, and hydroelectric power projects around the world. Societe Generale is also involved in the development of innovative renewable energy technologies, such as energy storage and smart grids.

In addition to its work on decarbonisation, corporate energy, corporate PPAs, and renewable energy, Societe Generale is also committed to promoting sustainable finance. The bank has developed a range of sustainable finance products and services, including green bonds, sustainability-linked loans, and impact investing funds. Societe Generale is also a signatory to the United Nations Principles for Responsible Banking and is committed to promoting sustainable business practices across its operations.

Overall, Societe Generale is a leading player in the sustainable finance sector and is actively working to promote decarbonisation, corporate energy, corporate PPAs, and renewable energy. The bank's commitment to sustainability is reflected in its ambitious targets to reduce its carbon footprint and support the development of renewable energy infrastructure. Societe Generale's expertise in sustainable finance and renewable energy makes it a valuable partner for companies looking to reduce their environmental impact and promote sustainable business practices.

✓ Science Based Targets member
✓ Declared Net Zero commitment