Societe Generale

InfluenceMap Score
D+
Performance Band
57%
Organisation Score
46%
Relationship Score
Sector:
Financials
Head​quarters:
Paris, France
Brands and Associated Companies:
Lyxor Asset Management, Societe Generale Securities Services
Official Web Site:
Wikipedia:

Société Générale appears to be fairly active on sustainable finance policy, with mostly positive engagement. Société Générale has stated support for a role for finance in meeting the EU's climate goals, and appears to advocate for investment strategies guided by the need to achieve net-zero by 2050 as a founder member of the Net-Zero Banking Alliance (NZBA). Subsidiary Lyxor Asset Management’s CEO also supported action to keep global warming below 1.5. Société Générale has stated support for sustainable finance regulation, although in its CDP responses it states that it supports the EU's agenda on sustainable finance with "minor exceptions".

Société Générale has strongly supported regulated corporate ESG disclosure, advocating in its 2019-21 CDP responses that it supports the mandatory implementation of the TCFD's recommendations and, also in 2020, supporting an ambitious review of the Non-Financial Reporting Directive (NFRD) in a European Commission consultation.

Société Générale’s CEO did state full support to the taxonomy in a media article in 2021. However, in response to the Commission in 2020, Société Générale opposed the expansion of the taxonomy to cover environmentally harmful activities. Société Générale further suggested a delay in the implementation of the taxonomy and suggested a less prescriptive taxonomy criteria in response to the Commission in 2021. In a 2020 website article, subsidiary Société Générale Securities Services stated support for the EU's taxonomy. However, in a 2019 article, Société Générale Securities Services argued that the taxonomy did not sufficiently recognize transitional efforts.

In 2020, subsidiary Lyxor Asset Management responded to the European Commission's consultation on benchmarks, advocating for an ambitious and urgent approach to the EU's new labels for climate benchmarks and supporting more ambitious ESG disclosure for all benchmarks. In feedback to ESMA in 2019, Société Générale supported the consideration of ESG preferences in the advice investment firms give to clients and supported the EU Ecolabel with minor exceptions. However, it did not support suggestions to create guidance on including ESG preferences in investor financial advice and sustainability products as a default option in feedback to the Commission in 2020. In a website article in 2020, Société Générale Securities Services also appeared to support EU investor disclosure regulations but argued that without data availability, it could prove a “waste of time and energy”.

Société Générale has stated it is engaging with policymakers on sustainable finance, with some detail on a small number of policies in its climate report. Société Générale has disclosed its trade association memberships, as has Lyxor Asset Management, but both have not given any further details of its governance of indirect influence.

QUERIES
DATA SOURCES
NS0NSNSNSNSNS
122NS21NS
1NS01NSNSNS
0NS22NSNSNS
0NSNS-11NSNS
0101NSNSNS
-11NS0NSNSNS
0NSNSNSNSNSNS
0NANANANANANA
0NANANANANANA
Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK
 
41%
 
41%
 
48%
 
48%
 
55%
 
55%
 
37%
 
37%
 
52%
 
52%
 
49%
 
49%
 
48%
 
48%
 
43%
 
43%

How to Read our Relationship Score Map

In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.