Societe Generale has upped its sustainable finance target to €500 billion ($520.7 billion) by 2030, after hitting its previous targets early.
The French bank had originally targeted €300 billion in sustainable finance target by 2025, but had hit that target by the end of Q2 this year.
Its new target consists of €400 billion in financing (including advisory), and around €100 billion in sustainable bonds. A major portion of financing will be set aside for transactions in low-carbon energy, sustainable real estate, low-carbon mobility and other transition areas.
The bank said its €500 billion target aims to focus financial flows towards decarbonisation of the heaviest emitting sectors.
Channels:Debt
Companies:Societe Generale