Societe Generale Assurances strengthens its commitment for the environment and the preservation of biodiversity
Societe Generale Assurances strengthens its commitment for the environment and the preservation of biodiversity by signing the “Finance for Biodiversity Pledge” and by adapting its investment policy regarding activities contributing to deforestation.
As a responsible investor, and in line with the Group's commitments, Societe Generale Assurances has made ambitious commitments in recent years for the environment and a responsible finance, illustrated in particular by joining the Net-Zero Asset Owner Alliance and the objective of achieving carbon neutrality in its investment portfolio by 2050.
Launched in September 2020, the "Finance for Biodiversity Pledge" brings together 84 financial institutions, with a total of €12,600 billion assets under management, which are committed to the protection and restoration of biodiversity through their investment activities by implementing the following measures by the end of 2024:
- Collaborate and share knowledge on methodologies for measuring and setting targets related to biodiversity;
- Integrate biodiversity into responsible investment policy and shareholder dialogue;
- Assess the positive and negative impacts of investments on biodiversity;
- Publish science-based targets, to increase the positive impacts and reduce the negative impacts of investment activities on biodiversity;
- Report annually on the level of achievement of these objectives in the investment portfolio.
Societe Generale Assurances will participate in the working groups set up as part of the "Finance for Biodiversity Pledge" in order to actively contribute to the development of positive solutions.
In addition, Societe Generale Assurances is adapting its investment policy related to activities that contribute to deforestation. New restrictions are being applied to all companies, including palm oil producers and distributors, in order to preserve forest ecosystems.
"At Societe Generale Assurances, we are convinced of the major role of insurers and the efficiency of coalitions in making significant progress, particularly in the fight against climate change. In line with the commitments already made in recent years, we are today signing the Finance for Biodiversity Pledge to build a sustainable and ecosystem-friendly future. " said Philippe Perret, Chief Executive Officer of Societe Generale Assurances.