The world’s best bank transition strategy 2022: Societe Generale
The French bank is not only effecting internal change but is also using itself as a catalyst for wider transition.
Societe Generale wins this year’s award for the world’s best bank transition strategy in recognition of both its internal and external momentum.
Those internal goals are important: the bank has committed €300 billion to support sustainable finance from 2022 to 2025, having previously pledged €150 billion between 2020 and 2025.
It is also working to ensure that it implements the highest environmental, social and governance standards for its own corporate behaviour. The implications of this range from its London headquarters being classified as outstanding by the Building Research Establishment Environmental Assessment Method (Breeam) to its work with cloud consultancy Qarnot to lower its carbon emissions.
SocGen understands that using its own expertise and capital to bring in other parties is essential to meet the scale of the challenge.