Questions écrites pour SOCIETE GENERALE

Reclaim Finance has issued a series of formal questions to Société Générale regarding the bank's alignment with a 1.5°C warming trajectory. The document argues that Société Générale continues to provide significant financial services to major oil and gas developers, including ExxonMobil, Chevron, TotalEnergies, and BP, and fails to effectively exclude non-conventional hydrocarbons and coal-producing parent companies from its portfolios.

• Société Générale's sector policy does not exclude direct financing for new conventional oil and gas production or infrastructure, which contradicts the IEA's Net Zero Roadmap and IPCC warnings against fossil fuel 'lock-in'.
• Between 2016 and 2021, Société Générale was among the top 10 supporters of ExxonMobil, Chevron, TotalEnergies, and BP, providing $9.3 billion in funding to companies whose capital expenditures are not aligned with a 1.5°C scenario.
• The bank's exclusion threshold of 30% for companies active in shale oil and gas is deemed too high to be effective, allowing it to continue financing diversified companies that are heavily involved in shale expansion.
• Société Générale's Arctic exclusion policy is described as partial because it only covers specific oil fields and infrastructure and uses a definition of the Arctic that excludes 28% of the fields identified by the Asset Monitoring and Assessment Program (AMAP).
• While Société Générale committed not to directly finance the EACOP project in Uganda and Tanzania, it provides indirect support to the project by remaining a top 10 supporter of the project operator, TotalEnergies.
• The bank's coal exclusion policy contains a loophole because it only excludes entities operating mines rather than their parent companies; consequently, in 2021, it provided loans to Energeticky a Prumyslovy Holding as ($133 million), RWE ($314 million), and Glencore ($417 million) despite their high production levels.

APA

Reclaim Finance (2022). Questions écrites pour SOCIETE GENERALE. https://reclaimfinance.org/site/wp-content/uploads/2022/05/RF_Questions-AG-2022_SOCIETE-GENERALE.pdf

Chicago

Reclaim Finance. Questions écrites pour SOCIETE GENERALE. 2022. https://reclaimfinance.org/site/wp-content/uploads/2022/05/RF_Questions-AG-2022_SOCIETE-GENERALE.pdf.

Wikipedia

{{cite press release |author=Reclaim Finance |title=Questions écrites pour SOCIETE GENERALE |date=May 2022 |url=https://reclaimfinance.org/site/wp-content/uploads/2022/05/RF_Questions-AG-2022_SOCIETE-GENERALE.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{reclaimfinance2022questions, author = {{Reclaim Finance}}, title = {{Questions écrites pour SOCIETE GENERALE}}, publisher = {Reclaim Finance}, year = {2022}, month = may, url = {https://reclaimfinance.org/site/wp-content/uploads/2022/05/RF_Questions-AG-2022_SOCIETE-GENERALE.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }