Societe Generale and Envision Join Forces for Green Technology Advancements

Societe Generale and Envision Join Forces for Green Technology Advancements

(IN BRIEF) Societe Generale and Envision have inked a Memorandum of Understanding (MOU) aimed at driving forward the development of green technologies and optimizing the carbon footprint of businesses in line with global energy transition goals. The collaboration entails Societe Generale’s support for Envision’s green technology initiatives, including smart wind farms, green hydrogen, battery gigafactories, and net-zero industrial parks projects, through sustainable finance and investment banking offerings. Additionally, Societe Generale will explore the application of Envision’s net zero technologies to reduce the carbon footprint of both the bank and its clients. The partnership underscores Societe Generale’s commitment to sustainable finance and Envision’s dedication to accelerating the deployment of renewable energy systems, as highlighted by Pierre Palmieri, Deputy Chief Executive Officer of Societe Generale, and Lei Zhang, Founder and Chief Executive Officer of Envision.

(PRESS RELEASE) PARIS, 29-May-2024 — /EuropaWire/ — Societe Generale and Envision have signed a Memorandum of Understanding (MOU) to advance the development of green technologies, and optimise the carbon footprint of businesses, as part of the global energy transition.

Under the MOU, Societe Generale will support the green technology developments of Envision, such as smart wind farms, green hydrogen, battery gigafactories and net-zero industrial parks projects, through a wide range of sustainable finance and investment banking offerings. This collaboration already has a solid track record as Societe Generale played a lead role in the advisory and financing of a battery gigafactory project, contributing to accelerating the energy transition and decarbonisation efforts in France and the rest of the world.

On a non-exclusive basis, Societe Generale will also explore the application of Envision’s net zero technologies and decarbonisation solutions, to support the carbon footprint reduction of the bank and its clients.

Pierre Palmieri, Deputy Chief Executive Officer of Societe Generale, stated:

“This partnership is further testimony of our commitment towards supporting a sustainable future, reflected through providing the advisory and financing solutions that will help to create long-term clean energy. It also reinforces one of our core strategic priorities towards supporting the UN Sustainable Development Goals.”

Lei Zhang, Founder and Chief Executive Officer of Envision, commented:

“Reaching net zero will require collective action. Our partnership with Societe Generale will allow us to scale the development of our suite of innovative green technologies, accelerating the deployment of renewable energy system as well as reducing the carbon emissions of the bank itself.”

Media Contact:  

Benjamin Fayol
+33 1 42 13 08 11
benjamin.fayol@socgen.com

Géraldine Bayon
+852 2166 4204
geraldine.bayon@socgen.com

Phillipa Chikwedze
+44 20 7762 5098
phillipa.chikwedze@sgcib.com

SOURCE: Societe Generale