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SCGLY Societe Generale (PK)

4.84
-0.02 (-0.41%)
18 Jun 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Societe Generale (PK) USOTC:SCGLY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.02 -0.41% 4.84 4.79 4.93 4.86 4.82 4.83 314,775 21:17:35

Societe Generale Sets New Selection Criteria for Financing Based on Coal-Exit Strategies

01/07/2020 6:18pm

Dow Jones News


Societe Generale (PK) (USOTC:SCGLY)
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   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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