Société Générale : une approche à compléter pour enrayer le développement des fossiles

Reclaim Finance argues that Société Générale's pledge to reduce oil and gas exposure by 10% by 2025 is flawed because it focuses on stocks rather than flows, excludes equity and bond issuances, and ignores transport and processing activities. The organization highlights that the bank's previous commitment to reduce coal exposure did not prevent increased funding to major coal producers and notes that the bank's alignment with the IEA's Sustainable Development Scenario is insufficient for a 1.5°C trajectory.

• Société Générale's commitment to a 10% reduction in oil and gas exposure by 2025 is limited to bank loans, thereby omitting a significant portion of financial services such as the issuance of shares and bonds.
• The use of 'exposure' as a metric is criticized because it measures stocks rather than flows, which can allow a bank to maintain or increase funding to fossil fuel producers while technically reducing overall exposure. Between 2016 and 2017, Société Générale's funding to the 30 largest coal mining companies more than doubled, rising from 104 million dollars to 261 million dollars, despite a 2016 commitment to reduce coal exposure by 14% by 2020.
• The bank's commitment focuses only on hydrocarbon production, ignoring transport and transformation activities. Specifically, Société Générale provided 4.6 billion dollars in financing between 2016 and 2019 to shale gas export terminals in the United States.
• Société Générale's goal to align its activities with the IEA's Sustainable Development Scenario (SDS) is described as insufficient for achieving a 1.5°C trajectory.
• While Société Générale announced it would stop financing onshore oil and gas extraction in the United States, data from IJGlobal indicates that no primary project financing for this activity had been conducted by the bank in the US since 2015.

APA

admin (2020). Société Générale : une approche à compléter pour enrayer le développement des fossiles. Reclaim Finance. https://reclaimfinance.org/site/2020/10/28/societe-generale-une-approche-a-completer-pour-enrayer-le-developpement-des-fossiles/

Chicago

admin. Société Générale : une approche à compléter pour enrayer le développement des fossiles. Reclaim Finance, 2020. https://reclaimfinance.org/site/2020/10/28/societe-generale-une-approche-a-completer-pour-enrayer-le-developpement-des-fossiles/.

Wikipedia

{{cite press release |last1=admin |title=Société Générale : une approche à compléter pour enrayer le développement des fossiles |publisher=Reclaim Finance |date=28 October 2020 |url=https://reclaimfinance.org/site/2020/10/28/societe-generale-une-approche-a-completer-pour-enrayer-le-developpement-des-fossiles/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2020socit, author = {admin}, title = {{Société Générale : une approche à compléter pour enrayer le développement des fossiles}}, publisher = {Reclaim Finance}, year = {2020}, month = oct, url = {https://reclaimfinance.org/site/2020/10/28/societe-generale-une-approche-a-completer-pour-enrayer-le-developpement-des-fossiles/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }