PARIS, 03 NOVEMBER 2021 – Societe Generale partners with Euler Hermes to invest in the green economy with Green2Green Single Risk.
is pleased to partner with trade credit insurance provider Euler Hermes, via Societe Generale’s dedicated broker BPL Global, as one of the first participating banks in the Green2Green Single Risk solution. This innovative solution is the first Environmental, Social and Governance-linked insurance product in the market and directs premium payments linked to credit and political risk insurance towards tacking climate change and promoting the green economy.
The Green2Green Single Risk solution created by Euler Hermes, in which Societe Generale was one of the first participating banks, covers the non-payment risk of qualifying loans and invests the related premium towards certified green bonds.
At the core of this innovative solution is Euler Hermes’ commitment to reinvest all premium earned from eligible green projects into the green economy through green bonds.
The initial sectors in scope are renewable energy, energy efficiency, recycling, water treatment, and mass public transportation, which are widely covered by Societe Generale’s expertise and leadership in the ESG space.
Societe Generale was consulted in the creation of this latest product developed by Euler Hermes and builds on the Group’s commitment to finding solutions in more sectors such as insurance to help address climate change.