Climate Bonds Partner Programme welcomes Societe Generale, the first French bank to become a Climate Bonds Partner
Societe Generale, one of the leading European financial institutions, has joined the Climate Bonds Partner Program, an international network of financial actors working with Climate Bonds to shift investment towards a low-carbon and climate resilient economy.
Societe Generale, leveraging on its corporate and investment banking capabilities, has been a pioneer and a long-term supporter of green bond markets, with multiple ‘Positive Impact Bond’ issuances1, and a major role in developing the market in France and the European Union, being one of the joint bookrunners mandated by Agence France Trésor (AFT) for France’s record-breaking sovereign issuance in 20172.
In the earlier developments of the green bond market, the bank has supported EDF’s inaugural green bond in 2013 and the first green bond from an Austrian issuer (Verbund AG) in 2014. More recently, Societe Generale was joint bookrunner for Germany’s first corporate issue by Innogy and joint structuring advisor for LBBW’s EUR750m inaugural green bond which set a best practice benchmark for low carbon buildings in Germany.
Earlier this year, the bank also joint lead managed Poland’s second sovereign green bond issuance and beyond European borders, the bank acted as joint bookrunner for IBRD’s inaugural HKD-denominated green bond as well as Korea Water Resources Corp (K-water) inaugural USD green/water bond just to name a few.
In addition, Societe Generale participates in United Nations’ programmes such as the Global Compact and played a pioneering role in defining and applying the Positive Impact Manifesto within the UNEP Finance Initiative (UNEP-FI) 3 and has made a EUR100 billion commitment to support low carbon energy transition between 2016 and 2020.
Pierre Palmieri, Head of Global Finance, Societe Generale, comments: “As a trusted and responsible partner in the fight against climate change, we are delighted to be the first French bank to join the Climate Bonds Initiative, bringing our long-standing E&S expertise, our innovative sustainable financial solutions and our pioneering role in the “Positive Impact Finance” programme. Through this new partnership fully in line with the bank’s strategy, Societe Generale strengthens its commitments to contribute to a greener and more inclusive economy.”
Manuel Adamini, Director of Investor Outreach, Climate Bonds Initiative, adds : “Societe Generale has been a significant actor in sustainable and responsible investment, and an early supporter of green bonds in Europe. Their “Sustainable and Positive Impact Finance” initiative will contribute to CBI’s agenda of scaling climate and SDGs finance, and their strong presence in France and Europe combined with the drive for development and best practice will definitely bring unique expertise to our Partners network.”