Understanding Responsible Investment #3 - Société Générale Private Banking's sustainable and positive offer
"Understanding Responsible Investment" Podcasts
Episode #3: "SGPB's Sustainable and Positive Offer"
by our CSR expert Dorothée Chapuis,
Head of Corporate Social Responsibility for Société Générale Private Banking Luxembourg, Monaco and Switzerland.
Interview with Olivier Gérard,
Head of Wealth Management Solutions for SGPB Luxembourg
Click on the button below to play.
Dorothée Chapuis: Hello everyone and welcome to the second episode of our "Understanding Responsible Investment" podcasts series. I am Dorothée Chapuis, Head of CSR for Société Générale Private Banking Luxembourg, Monaco and Switzerland, and I am with Olivier Gérard, Commercial Director for Société Générale Private Banking Luxembourg.
Dorothée Chapuis: Olivier, what are your positive and sustainable solutions?
Olivier Gérard: Our offer, available in all our private banking entities in France and Europe, is based on three main areas: SRI portfolio management solutions, the structured products offer andinvestment advice. For portfolio management, we have been developing SRI for several years now with a significant acceleration since 2019; several of our open-ended funds have obtained recognised labels: the French government's SRI label and Luxembourg's Luxflag label. Clients who entrust us with the management of their portfolios by choosing the SRI approach benefit from the same management process as our SRI-labelled funds. At the level of our private banking asset management companies, we aim to achieve a rate of 30% of assets under responsible process management in less than two years.
Olivier Gérard: There are different types of structured products. There are those that are indexed on indices that take into account extra-financial environmental, social and governance (ESG) criteria or indexed on stocks chosen for their ESG performance; there are also structured products that participate in positive programs. We have three positive programs: the Positive Impact Finance program, the Charity program and the Let's Plant Trees program. The charitable structured products provide that for every subscription, Societe Generale Private Banking makes a donation to a partner charity. The "Plant a Tree" programme allows for the planting of one tree for every EUR 10K invested, the financing being handled by the private bank.
Dorothée Chapuis: We will come back in more detail in the next podcasts on the main principles of SRI management. What about your second area of sustainable and positive offering, structured products?
Dorothée Chapuis: Thank you for these details, Olivier. Let's now come to the third axis, investment advice.
Olivier Gérard: Indeed Dorothée, our advisory management offer is also concerned by the sustainable theme and we are going to gradually integrate advice on funds or stocks with good extra-financial performance. Initially, we are implementing the environmental exclusions adopted by the Société Générale group by stopping investments in stocks whose activity is linked to thermal coal and controversial weapons. We are also going to stop advising on stocks with the most severe ESG controversies. As you know, one of the pillars of our offering is our ability to select external funds in line with our clients' objectives and investor profiles. We have recently expanded the range of sustainable, ESG or responsible external funds that we offer our clients. Finally, I would like to conclude with LUMO, which is a participative financing platform dedicated to renewable energies and a partner of private banking in France. Don't hesitate to talk to your usual contact person so that he can tell you more about it.
Dorothée Chapuis: Thank you Olivier, we understand that the offer of sustainable and positive products is innovative and complete. But what are the main principles of SRI portfolio management? This is what we will discover in the next two podcasts of our series. See you soon!
This podcast is part of a series of episodes proposed by Societe Generale Private Banking to understand responsible investment. It is available on the Spotify and Apple Podcast streaming platforms via the "#Private Talk by Societe Generale Private Banking" program and on our website www.privatebanking.societegenerale.com. Feel free to subscribe to be notified when the next episode is released and to spread the word.
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