Environmental, Social and Governance - Corporate Social Responsibility

Societe Generale Ghana (SG Ghana) identifies with the environment and societies within which it operates.

Economic development is no longer possible without environmental and social progress. It is the responsibility of major companies like SG Ghana to ensure that they are not only making profits, but are also giving back meaningfully in ways that positively impact the environment and the people within the societies where we operate.

SG Ghana, a subsidiary of the Societe Generale Group shares the Group value of playing a lead role in helping build greener and more inclusive development models and enabling the emergence of new drivers of sustainable growth.

SG Ghana considers projects that enhance education and literacy, Music and Arts, Golf, Rugby, disabled sports, and Health related initiatives.

At SG Ghana, our CSR initiatives revolve around Sustainable Development Goal 6 – Clean Water and Sanitation, and Goal 13 – Climate Action. The bank continues to support communities that are deprived of clean water through its borehole projects. The year 2023 recorded the highest average temperatures in Accra in the last 71 years. This is a cause for worry, suggesting the globe is becoming warmer and the effects are being felt right here in Accra-Ghana. SG Ghana will continue its partnership with the Forestry Commission to continue planting Trees to help address Climate issues.

Newly constructed borehole and water tank provided to the Kpenoe Traditional Area.

Fig 1 Recent Boreholes commissioned in Kpenoe, Ho and University of Ghana, Institute of Applied Science and Technology

Planting trees

Fig 2 SG Ghana and St Mary’s School in a Tree planting Exercise

ESG Agreements and Commitments applicable in SG Ghana

SG Ghana complies with all Environmental and Social (E&S) conventions & agreements (of which our Group is a signatory) while taking into consideration Environmental laws & regulations in force in Ghana.

  • 2024 – Rights of Employees: Agreement with UNI
  • 2024 - Agreement with IFC to accelerate on sustainable finance
  • 2022- Founding Member of the Aviation Climate Aligned Finance Working Group (CAF) / Aluminium Climate Aligned Finance Working Group / member and co-leader of Sustainable Steel Principles working Group
  • 2021- UNEP-FI Net Zero Banking Alliance
  • 2020- PACTA for banks, Hydrogen Council  Rolling out Hydrogen as part of the energy transition
  • 2019- Founding Signatories of the United Nations Principles for Responsible Banking and collective commitment to Climate Action
  • 2019 - Sustainable Banking Principles of Bank of Ghana
  • 2018- Partner of the climate bonds initiative
  • 2001- 2017: Positive Impact Initiative, Equator Principles and Soft Commodities Compact

ESG and Climate Commitments

  • Oil and Gas:

    • reinforced objective to reduce exposure to the oil and gas production sector in terms of financial exposure by 20% by 2025;
    • reduce by 30% by 2030 the absolute carbon emissions target concerning the end-use of oil and gas production;
    • Coal: reduce to zero our exposure to coal by 2030 in the EU and OECD countries, and by 2040 in the rest of the world;
  • Power generation: reduce the carbon intensity of exposure to the power generation sector to 125g of CO2 per kWh by 2030.

SG Ghana as a Responsible Bank

Solar Power Initiative: The Bank has installed a Solar Central panel to reduce cost of power consumed from the National Grid and also to adopt a renewable and cleaner source of energy. The project provides a renewable source of energy to our Head Office building through a 267 Kwp Hybrid PV plant located at the car park. The cost implication, noise levels and waste emissions from the generator required the need for a cleaner and renewable source of energy to support operations at the head office building and reduce the bank's dependency on the National Grid.

Sensitive Lighting System: We have installed a sensitive lighting system to help reduce the consumption of electric energy internally.

Default Print Settings To Reduce Paper Usage: All our printers have been set by default to print on both sides to help reduce the usage of paper. This initiative effectively contributes in its own small way to the conservation of trees, further supporting climate action.

Water usage: The Restrooms have all been built with smart press-to-use faucets that help control water usage and promote good hygienic practice.

The Head Office is equipped with a gymnasium, an Innovation Hub and a creche. These efforts are all in line with the bank’s commitment to remain as a strong and responsible player, and practice what it enforces for its clients as part of the Environmental and Social Management Systems process.

Employee Care

SG Ghana will over the next 3 years benefit from a social coverage for its employees. We have already instituted a week’s paternity leave for our male employees as part of efforts to improve work-life balance, diversity and inclusion, and support employees and their growing families.

The bank will include an extension of the 12-week maternity leave, by an additional 2 weeks. Thus 14 weeks of maternity leave.

Additionally, our Group commits to continue deploying a methodology enabling pay gaps between women and men to be measured.

Health, safety and the quality of life at work including the prevention and fight against discrimination, harassment (including cyberbullying) and inappropriate behaviours, the development of diversity and gender equality are of great importance to SG Ghana.

Some Notable Actions

The bank launched its highly anticipated Sustainability Agenda, underscoring the bank's Commitments to sustainability and responsible business practices.

The well patronized event which had in attendance distinguished guests, partners, and valued customers took place at the French Ambassador's residence at Cantonments, in Accra in 2023.

Sustainability through Art - Artent!on

The Innovation Hub of the Bank is one unique vehicle through which SG Ghana drives creativity and sustainability. Since 2019, the bank has been hosting and organizing art competitions that are sustainable in nature. The 2023 version dubbed “ARTENT!ON” was held at the Kempinski Hotel in Accra.

The competition was a celebration of art and innovation which brought together artists, innovators, art lovers, investors, and the bank's customers.

ARTENT!ON 2O23 focused on Sustainability through Art and this was exhibited through the various art pieces that were presented by the participants. The competition featured artworks made from car tires to paintings created from recycled materials, showing how art can inspire action for the environment, society, and the economy.

Addressing Climate Change - Tree Planting

“Take urgent action to combat climate change and its impacts”; this is the rallying call from the United Nations (UN) in the wake of the world’s recovery from the Covid -19 pandemic. According to the UN, the climate crisis continues largely unabated. The concentrations of greenhouse gases continued to increase in 2020, reaching new record highs with the global average temperature about 1.2°C, above the 1850– 1900 baseline.

In the wake of these stark realities and to contribute to solving this problem, SG Ghana embarked on a tree planting exercise at the St. Mary’s Senior High School in Accra. The tree planting exercise was done in collaboration with the Ghana Forestry Commission as part of the Bank’s Corporate Social Responsibility (CSR) initiative, to support the country reduce its carbon footprints, and mitigate climate change.

Giving Back to Society - Renovation of Korle-Bu Surgical Block

The 6th floor of the Korle Bu Surgical Unit has undergone a transformative refurbishment bringing it up to modern standards and making it a conducive environment for the rejuvenation and healing of patients. The entire refurbishment was undertaken by SG Ghana as part of activities to mark the bank’s 20th anniversary celebration.

The renovation works covered a new bulkhead ceiling for the reception and lounge of the surgical block, retiling of washrooms and reception area, replacement of all water closets and wash hand basins, renovation of offices and wards. Additionally, were the installations of a fire alarm system, wireless nurse call system, air conditioners in all wards and offices and supply of new furniture for wards, offices, reception and lounge.