Societe Generale Sets New Selection Criteria for Financing Based on Coal-Exit Strategies
July 01 2020 - 1:18PM
Dow Jones News
By Giulia Petroni
Societe Generale SA said Wednesday that it would reinforce its
selection criteria for financing companies based on the credibility
of their commitments to shift away from coal.
The French bank said it would no longer offer most of its
products and services to companies that generate more than 25% of
their revenues in the thermal coal sector, that don't have a
credible strategy to exit the sector or that are developing new
projects related to coal. However, it will offer these companies
products and services dedicated to energy transition.
Details of the new policy will be published this month,
according to Societe Generale.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
July 01, 2020 13:03 ET (17:03 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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