Société Générale et gaz de schiste : ça fait pschitt

Reclaim Finance argues that Société Générale's pledge to cease financing new LNG export projects and shale gas extraction in North America is inadequate. The organization highlights that the bank remains involved in the Rio Grande LNG and Driftwood LNG projects and lacks a clear revenue threshold for excluding shale gas companies. The statement asserts that the bank's current strategy contradicts the IEA's net zero scenario and its own goal of carbon neutrality by 2050.

• Société Générale has committed to stop providing financial products or services to companies deriving more than a certain threshold of revenue from shale oil and gas extraction, and will cease supporting new (greenfield) LNG production or export projects in North America after completing current mandates.
• Between 2016 and 2020, Société Générale provided 12 billion dollars in support to 30 companies planning the highest levels of shale gas and LNG exploitation by 2050, making it the 7th most involved bank globally in these sectors.
• The bank's commitment is deemed insufficient because it does not exclude existing projects such as Rio Grande LNG and Driftwood LNG, nor does it explicitly ban support for companies developing new projects or the expansion of existing LNG terminals.
• The document claims that North America, primarily the United States, will account for 85% of global production growth by 2025, and if this trend continues to 2050, it would consume 27% to 31% of the remaining carbon budget to limit warming to 1.5°C.

APA

admin (2021). Société Générale et gaz de schiste : ça fait pschitt. Reclaim Finance. https://reclaimfinance.org/site/2021/05/18/societe-generale-et-gaz-de-schiste-ca-fait-pschitt/

Chicago

admin. Société Générale et gaz de schiste : ça fait pschitt. Reclaim Finance, 2021. https://reclaimfinance.org/site/2021/05/18/societe-generale-et-gaz-de-schiste-ca-fait-pschitt/.

Wikipedia

{{cite press release |last1=admin |title=Société Générale et gaz de schiste : ça fait pschitt |publisher=Reclaim Finance |date=18 May 2021 |url=https://reclaimfinance.org/site/2021/05/18/societe-generale-et-gaz-de-schiste-ca-fait-pschitt/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2021socit, author = {admin}, title = {{Société Générale et gaz de schiste : ça fait pschitt}}, publisher = {Reclaim Finance}, year = {2021}, month = may, url = {https://reclaimfinance.org/site/2021/05/18/societe-generale-et-gaz-de-schiste-ca-fait-pschitt/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }