Societe Generale Factoring launches a range of solutions related to environmental and social criteria
In order to support its clients with their ESG(1) transition goals, Societe Generale Factoring, a Group subsidiary specialising in short-term financing solutions for businesses, is launching two new categories of ESG offers, which are applicable to its flagship products serving corporate clients. These include receivable finance, supply chain finance and forfaiting (discounting of commercial bills).
Environmental and/or social financing
The first category of solutions proposed by Societe Generale Factoring aims to finance business activities with positive environmental or social impacts.
Eligible environmental projects2 must involve underlying assets in a list of eligible categories, such as
renewable energy, waste management, clean transportation, hydrogen and sustainable water and
Eligible social projects2 concern the financing of social or societal claims from, for example, social and solidarity-based companies and associations, education and training, or social housing. The sectors principally concerned include healthcare, in particular hospitals, health insurance, as well as organisations caring for adults and children with disabilities.
A sustainability-linked offer
The sustainability-linked (SL) solution is aimed at companies that have developed an ambitious CSR (Corporate Social Responsibility) strategy to improve the environmental and social impacts of their activities. It rewards the achievement of CSR objectives as defined by our clients.
This approach encourages the transition of companies and their suppliers to more sustainable growth models. It is particularly appropriate for Supply Chain Finance programmes of large corporates that have many suppliers, such as mass retailers or industrial manufacturers.
"With these new categories of offers, Societe Generale Factoring extends the Societe Generale Group's commitment to supporting the ESG transition of its corporate clients to greener and more inclusive development models. They continue the work done on a daily basis by our teams alongside corporate treasurers"
Aurélien Viry, CEO of Societe Generale Factoring.
1 ESG: Environmental, Social and Governance
2 Eligible environmental and social projects match the criteria based on Societe Generale’s internal standards.