Societe Generale launched a more extensive and targeted initiative in 2017 for listening to its internal stakeholders (employees, staff representative bodies) and external stakeholders (investors, shareholders, customers, nongovernmental organisations, civil society, etc.) in order to anchor and reinforce the Bank’s CSR vision.
With the support of an external consulting firm, the Group performed an extensive consultation of around 1,350 individual customers, supplemented by 150 interviews with external and internal stakeholders. Besides France, this consultation was also conducted in Africa, the United States, Russia and in several other European countries, i.e. around fifteen countries in total. It enabled the creation of the materiality matrix below, which ranks sustainable development issues in light of the priorities expressed by the internal and external stakeholders. Societe Generale’s new CSR ambition has been developed on the basis of the results of this matrix.
Who are the stakeholders?
These are communities within or outside of the Group - shareholders, employees, customers, suppliers, public authorities and civil society (charities, NGOs, etc.) - which share the same interests, the same logic and influences, and with which it has fostered a climate of dialogue and exchange.
With our customers
Customer satisfaction is regularly analysed in each of the Bank’s businesses. This is generally done based on the recommendation rate (according to the Net Promoter Score system, which has been gradually rolled out since 2015), which is monitored at the highest level of the Group.
Find out more about:
Supporting our clients
Within each of the main France Retail Banking customer segments (individual, professional and corporate customers), Societe Generale, its specialised subsidiaries (Sogécap, Sogessur, Franfinance, etc.) and Credit du Nord have been surveying representative samples of their respective customers – as well as clients of the top 11 French banks – in order to assess their level of relative satisfaction. These polls reveal the overall and detailed level of customer satisfaction across every aspect of the banking relationship.
For its part, in order to refine its products and services offer and to meet at the best its client’s needs, Corporate and Investment Banking conducts annual surveys based on the Net Promoter Score (NPS)
International Retail Banking gradually rollout a programme to mesure clients’ satisfaction, based on the NPS.
With shareholders and investors
Societe Generale regularly meets with its investors to present its strategy and results to them and to exchange views with them, including on environmental, social and governance topics. The Group has also strengthened its commitment with investors in relation to environmental, social and governance subjects, through dedicated meetings in Europe and in the United States with the Chairman of the Board of Directors. In order to maintain and develop close relations with its individual shareholders, the Group implements numerous initiatives every year. Societe Generale participates in the Salon Actionaria, a reference trade fair for individual shareholders drawing more than 25,000 visitors. Five times a year the Group publishes its Letter to Shareholders, which appears quarterly in newsletter format and in June, after the General Meeting, in paper format. To make sure it continues to meet the needs and expectations of its individual shareholders, the Bank has also had a Shareholders’ Consultative Committee since 1988, whose primary role is to advise on the Group’s individual shareholder relations and communications policy. The Committee meets twice a year and the questions it submits are relayed to the General Meeting.
Find out more about:
Dialogue with stakeholders
With rating agencies
Non-financial risk management and performance, which is an integral component of Societe Generale’s overall performance, are regularly assessed and rated by the non-financial rating agencies. The resulting analyses and ratings constitute recognition of the quality and transparency of the information provided and reflect the attention paid to the Group’s CSR actions by an external and independent observer. These ratings allow some of our stakeholders, such as the investors, to integrate non-financial criteria into their investment selections in addition to “responsible” stock market indices (information available on the Group website www.societegenerale.com).
With civil society
Societe Generale makes every effort to promote constructive dialogue with all its stakeholders. In particular, the Group listens and talks to any NGOs that alert it to environmental and social (E&S) issues within its sphere of influence or that can help it to adapt its policies and procedures in a progress-driven approach. The Bank ensures it holds regular discussions on the development and implementation of its policies. Through its E&S watch list, Societe Generale monitors any projects, companies and sectors, irrespective of whether they are financed by the Bank, that are the subject of public controversy or public campaigns by civil society (see p. 269, “E&S Watch List”). The Group uses the Corporate and Social Responsibility (CSR) Department to centralise any request or contact by NGOs or other civil society members informing it about the impact of its financing portfolio or other services. Wherever possible, an internal enquiry is conducted and a documented response is given, either in writing or at meetings, where appropriate. The Bank also has a section on its website entitled "Dialogue & transparency".
Find out more about:
THE GROUP'S POSITION
With our employees
The Employee Satisfaction Survey is a comprehensive and anonymous internal survey conducted every two years throughout the Group. The results are shared with employees and serve as the basis for action plans, with the goal of continuous improvement. From 2018 onwards a shorter survey will also be conducted to establish interim indicators, in particular with respect to commitment. The questions focus on Societe Generale’s values. The results of the 2017 Employee Satisfaction Survey show strong identification with the values of Responsibility (79%) and Team Spirit (76%) and a slight improvement as regards the value of Innovation (73%, 1 point higher than in 2015), while Commitment (68%) was down slightly (2 points lower than in 2015).
Find out more about:
SOCIETE GENERALE SUPPORTS ITS EMPLOYEES ON A DAILY BASIS
SUCCEDING TOGETHER THROUGH THE TALENTS OF ALL
With our suppliers
The Group aims at building lasting and balanced relationships with its suppliers, whether they are large international groups or innovative start-ups. With EUR 6.6 billion in purchases in 2017, sourcing, at Societe Generale, is an important economic lever.
Supporting the Group’s values, the 2018 Positive Sourcing Programme is structured around two ambitions:
• improving CSR risk management during the sourcing process;
• diversifying sourcing practices by helping to improve the Group’s regional and environmental footprint.
This programme follows on from the implementation of internal guidelines on “Responsible Sourcing Practices”, as appended to the Global Agreement on Fundamental Rights signed in June 2015 with UNI Global Union, demonstrating the Group’s intention to apply it across all its entities”.
To know more:
SUSTAINABLE SOURCING: POSITIVE SOURCING PROGRAM
With regulators and supervisors
In all countries in which the Group is present, it builds close relationships with the banking and financial supervision authorities and regulators. This helps him to understand and to anticipate regulatory changes, while also enabling to contribute to them through regular consultations with these authorities.
To know more :
COMPLIANCE AND MORE