Active

Explanation

A bank can obtain a total of 200 policy points for its overall fossil fuel policies; 120 possible points for oil and gas policies and 80 possible points for coal policies. Based on this score banks are then classified as laggards (0-50 points), followers (50.5-100 points), front runners (100.5-150 points) or leaders (150.5-200 points).

For more details see this page.

Bank policy score on oil and gas financing

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

Société Générale

2020-03-01

FRA

11.5

France

Profile

Laggard

11.5

Follower

Front runner

Leader

1583017200

Last update: 2020-03-01

Explanation

Total: 11.5 points out of 120

5 points out of 20 for tar sands policy: see here.

5 points out of 20 for Arctic oil and has policy: see here.

0.5 point out of 20 for fracked oil and gas policy: see here.

0.5 point out of 20 for LNG policy: see here.

0.5 point out of 20 for other/conventional oil and gas: see here.

Explanation

For each of the six subsectors, 20 possible policy points can be obtained, so a bank can obtain a total of 120 policy points for its oil and gas policies. Based on this score banks are then classified as laggards (0-30 points), followers (30.5-60 points), front runners (60.5-90 points) or leaders (90.5-120 points).

For more details see this page.

Bank policy score on coal financing

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

Société Générale

2020-07-31

FRA

France

Profile

Laggard

Follower

Front runner

Leader

1596146400

Last update: 2020-07-31

Explanation

Total: 61 points out of 80

25 points out of 32 for coal mining policy: see here.

25 points out of 32 for coal power policy: see here.

13 points out of 16 for coal infrastructure: see here.

Explanation

For both coal mining and coal power, 32 possible policy points can be obtained, while for other coal,16 possible policy points can be obtained. So a bank can obtain a total of 80 policy points for its coal policies. Based on this score banks are then classified as laggards (0-20 points), followers (20.5-40 points), front runners (40.5-60 points) or leaders (60.5-80 points).

For more details see this page.

Bank policy score on fossil fuel expansion

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

Société Générale

2020-07-31

FRA

France

Profile

Laggard

Follower

Front runner

Leader

1596146400

Last update: 2020-07-31

Explanation

Total: 41 points out of 89

3 points for a moderate exclusion of tar sands projects: Société Générale prohibits financing for all tar sands exploration and production projects, as well as for "infrastructures exclusively dedicated to the transport or storage of oil from oil sands." Expanding the latter to prohibit financing for infrastructure with any relation to tar sands would move this assessment to "strong exclusion."

3 points for a moderate exclusion of Arctic oil and gas projects: Société Générale prohibits financing for all Arctic oil exploration and production projects, as well as for "infrastructures exclusively dedicated to the transport or storage of... Arctic oil." This policy does not cover Arctic gas.

6 points for a strong exclusion of coal mining projects: Société Générale prohibits financing for all thermal coal mining projects.

8 points for a strong exclusion of companies expanding coal mining (coal mine developers): Société Générale will not finance companies developing, or planning to develop, new thermal coal mines. For this policy commitment, the majority owners of the asset are considered. Société Générale will also refrain from financing 'Corporate Entities' of the thermal coal mining sector (which are defined as corporate entities directly operating or owning thermal coal mining assets) that are developing or planning to develop thermal coal mining capacity.

6 points for a strong exclusion of coal power projects: Société Générale prohibits financing for all coal power plants.

8 points for a strong exclusion of companies expanding coal power (coal power developers): Société Générale will refrain from providing finance to companies of the thermal coal sector developing, or planning to develop, new thermal coal mines, new coal-fuelled power capacities strictly above 300 MW or new transportation projects dedicated to thermal coal. For this policy commitment, the majority owners of the asset are considered.

3 points for a strong exclusion of coal infrastructure projects: Société Générale prohibits financing for all other thermal coal power projects, including transport and infrastructure associated with coal mining and coal power.

4 points for a strong exclusion of coal companies expanding coal infrastructure: Société Générale will not finance companies of the thermal coal sector developing or planning to develop new transportation projects dedicated to thermal coal. For this policy commitment, the majority owners of the asset are considered.

Relevant policies

Thermal coal sector policy

Sector policy oil and gas

References

An Accelerated Exit from the Coal Sector

Société Générale

Société Générale releases a misleading coal phase out policy

Reclaim Finance

Explanation

The scores for a bank's policies restricting expansion of fossil fuels - in each area, prohibitions against financing projects and/or companies expanding that area - are aggregated into a fossil fuel expansion policy score.

The point-based policy ranking for fossil fuel expansion consists of the following distribution:

Coal mining: 14 points
Coal power: 14 points
Other coal: 7 points
Tar sands: 9 points
Arctic oil and gas: 9 points
Offshore oil and gas: 9 points
Fracked oil and gas: 9 points
LNG: 9 points
Other oil and gas: 9 points

A bank can obtain a total of 89 policy points for its fossil fuel expansion policy. Based on this score, banks are then classified as laggards (0-22.25 points), followers (22.25-44.5 points), front runners (44.5-66.75 points) or leaders (66.75-89 points).

For more details see this page.

Bank policy scores on tar sands

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

Société Générale

2020-03-01

FRA

France

Profile

Laggard

Follower

Front runner

Leader

1583017200

Last update: 2020-03-01

Explanation

Total: 5 points out of 20

2 points for a weak exclusion threshold for tar sands companies: Société Générale prohibits financing for companies that get a majority of their revenue from tar sands for exploration and production or have a majority of their reserves in tar sands.

Relevant policies

Sector policy oil and gas

Explanation

The point-based policy ranking above assesses bank policies in four ways:

1) Restriction on direct financing for tar sands projects.

None (0), weak exclusion (1.5), moderate exclusion (3), strong exclusion (4)

2) Restriction on financing for companies that expand tar sands.

None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for tar sands.

None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in tar sands above a certain threshold.

None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its tar sands policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

Bank policy score on fracked oil and gas

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

Société Générale

2020-03-01

FRA

0.5

France

Profile

Laggard

0.5

Follower

Front runner

Leader

1583017200

Last update: 2020-03-01

Explanation

Total: 0.5 point out of 20

0.5 point for enhanced due diligence regarding fracked oil and gas companies: Société Générale conducts enhanced due diligence for transactions related to shale oil and gas.

Relevant policies

Sector policy oil and gas

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for fracked oil and gas projects.

None (0), weak exclusion (1.5), moderate exclusion (3), strong exclusion (4)

2) Restriction on financing for companies that expand oil and gas fracking.

None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for oil and gas fracking.

None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in oil and gas fracking above a certain threshold.

None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its fracking policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

Bank policy score on Arctic oil and gas

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

Société Générale

2020-03-01

FRA

France

Profile

Laggard

Follower

Front runner

Leader

1583017200

Last update: 2020-03-01

Explanation

Total: 5 points out of 20

3 points for a moderate exclusion of Arctic oil and gas projects: Société Générale prohibits financing for all Arctic oil exploration and production projects, as well as for "infrastructures exclusively dedicated to the transport or storage of [...] Arctic oil." This policy does not cover Arctic gas.

2 points for a weak exclusion threshold for Arctic oil and gas companies: Société Générale prohibits financing for companies that get a majority of their revenue from Arctic oil or have a majority of their reserves in the Arctic region.

Relevant policies

Sector policy oil and gas

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for Arctic oil and gas projects.

None (0), weak exclusion (1.5), moderate exclusion (3), strong exclusion (4)

2) Restriction on financing for companies that expand Arctic oil and gas.

None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for Arctic oil and gas.

None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in Arctic oil and gas above a certain threshold.

None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its Arctic oil and gas policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

Bank policy score on offshore oil and gas

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

Société Générale

2020-03-01

FRA

France

Profile

Laggard

Follower

Front runner

Leader

1583017200

Last update: 2020-03-01

Explanation

Total: 0 points out of 20

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for offshore oil and gas projects.

None (0), weak exclusion (1.5), strong exclusion (4)

2) Restriction on financing for companies that expand offshore oil and gas.

None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for offshore oil and gas.

None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in offshore oil and gas above a certain threshold.

None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its offshore oil and gas policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

Bank policy scores on LNG

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

Société Générale

2020-03-01

FRA

0.5

France

Profile

Laggard

0.5

Follower

Front runner

Leader

1583017200

Last update: 2020-03-01

Explanation

Total: 0.5 point out of 20

0.5 point for enhanced due diligence regarding LNG companies: Société Générale conducts enhanced due diligence for transactions dedicated to LNG facilities.

Relevant policies

Sector policy oil and gas

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for LNG projects.

None (0), weak exclusion (1.5), strong exclusion (4)

2) Restriction on financing for companies that expand LNG.

None (0), weak exclusion (3), strong exclusion (5)

3) The bank’s commitment to phase-out financing for LNG.

None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in LNG above a certain threshold.

None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 20 policy points for its LNG policy. Based on this score banks are then classified as laggards (0-5 points), followers (5.5-10 points), front runners (10.5-15 points) or leaders (15.5-20 points).

For more details see this page.

Bank policy score on coal power

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

Société Générale

2020-07-31

FRA

France

Profile

Laggard

Follower

Front runner

Leader

1596146400

Last update: 2020-07-31

Explanation

Total: 25 points out of 32

6 points for a strong exclusion of coal power projects: Société Générale prohibits financing for all coal power plants.

6 points for a moderate phase-out commitment regarding coal power companies: Société Générale has committed to zero out its exposure to the thermal coal sector by "2030 for companies with mining or power production thermal coal assets located in the EU or OECD countries and 2040 companies holding such assets elsewhere." This is a strong timeline but remains in the "moderate" category because it does not cover the bank's underwriting for the coal sector. From the end of 2021, Société Générale will not finance any company with mining or power thermal coal assets if that company is a thermal coal developing company; or if it does not have communicated a transition plan aligned with the 2030/2040 thermal coal phase out objectives of Société Générale.

5 points for a moderate exclusion threshold for coal power companies: Société Générale does not finance companies generating over 25% of their revenues in the thermal coal sector or do not have a transition plan aligned with the 2030/2040 coal phase-out objectives of the bank. Société Générale will also not finance companies that have more than 50% of their revenue linked to the thermal coal sector, regardless of their transition plan.

Relevant policies

Thermal coal sector policy

References

An Accelerated Exit from the Coal Sector

Société Générale

Société Générale releases a misleading coal phase out policy

Reclaim Finance

Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for coal power projects.

None (0), weak exclusion (2), moderate exclusion (4), strong exclusion (6)

2) Restriction on financing for companies that expand coal power.

None (0), weak exclusion (4), strong exclusion (8)

3) The bank’s commitment to phase-out financing for coal power.

None (0), proportional reduction (1), exposure reduction (1.5), financing reduction (3), weak phase-out (4), moderate phase-out (6), strong phase-out (8)

4) The bank’s commitment to exclude companies active in coal power above a certain threshold.

None (0), enhanced due diligence (0.5), weak exclusion threshold (3), moderate exclusion threshold (5), strong exclusion threshold (8), full exclusion (10)

A bank can obtain a total of 32 policy points for its coal power policy. Based on this score banks are then classified as laggards (0-8 points), followers (8.5-16 points), front runners (16.5-24 points) or leaders (24.5-32 points).

For more details see this page.

Bank policy score on coal mining

BankLast update

Country

Details

Laggard

Follower

Front runner

Leader

Société Générale

2020-07-31

FRA

France

Profile

Laggard

Follower

Front runner

Leader

1596146400

Last update: 2020-07-31

Explanation

Total: 25 points out of 32

6 points for a strong exclusion of coal mining projects: Société Générale prohibits financing for all thermal coal mining projects.

6 points for a moderate phase-out commitment regarding coal mining companies: Société Générale has committed to zero out its exposure to the thermal coal sector by ''2030 for companies with mining or power production thermal coal assets located in the EU or OECD countries and 2040 companies holding such assets elsewhere." This is a strong timeline but remains in the "moderate" category because it does not cover the bank's underwriting for the coal sector.

5 points for a moderate exclusion threshold for coal mining companies: Société Générale will not finance companies (new and existing) generating over 25% of their revenues in the thermal coal sector or companies that do not have a transition plan aligned with the 2030/2040 coal phase-out objectives of Société Générale. The bank will also not finance companies that have more than 50% of their revenue linked to the thermal coal sector, regardless of their transition plan. Lastly,
Société Générale will not finance new or existing 'Corporate Entities' of the thermal coal mining sector which belong to groups which have more than 20% of their revenue linked to the thermal coal sector; produce more than 10 million tonnes of thermal coal per year; or do not have communicated a transition plan aligned with the 2030/2040 thermal coal phase out objectives of Société Générale.

Relevant policies

Thermal coal sector policy

References

An Accelerated Exit from the Coal Sector

Société Générale

Société Générale releases a misleading coal phase out policy