Societe Generale Morocco won, on May 10 in Marrakech, the “Sustainability Gold Award for Financial Intermediaries”, issued by the European Bank for Reconstruction and Development (EBRD). This prize comes in recognition of the commitment of the Moroccan bank in the deployment of the “Green Value Chain” system in Morocco for the benefit of the energy transition of national SMEs and the strengthening of their competitiveness within global value chains.
This trophy was presented to Societe Generale Morocco during the “EBRD Sustainability Awards 2022” – a special event around sustainability held on the sidelines of the 31st General Assembly of the EBRD, which is being held in Marrakech from May 10 to 12. “This trophy is recognition of Societe Generale Morocco’s leadership in sustainable finance and our desire to promote the energy transition of our customers, an essential element for their future development and therefore for the long-term partnership relationship between a bank and his clients. said Ahmed El Yacoubi, Chairman of the Management Board of Societe Generale Morocco.
According to the group, the support of the “Green Value Chain” system has made it possible to strengthen the resilience, competitiveness, as well as the sustainability of the growth of several dozen Moroccan SMEs. This through the financing of projects relating to energy efficiency, renewable energies and the adoption of technologies that mitigate the effects of climate change and make it possible to prepare for the increasingly strict regulations in this area in the main world markets. This program has made it possible to carry out ambitious projects generating cost savings and competitiveness in the vital sectors of the national economy such as the food industry or the pharmaceutical industry. According to the group, the success of the deployment of the Green Value Chain in Morocco is essentially based on the quality of the financial support provided by the advisers of Societe Generale Morocco and its subsidiary Sogelease as well as on the expertise of the consultants providing the assistance. EBRD technical.
“Resolutely committed to the sustainable transition of the Moroccan economy, in accordance with the High Royal Guidelines advocating the conduct of a green transition in Morocco through the construction of a sustainable economy, with low carbon emissions and resilient to climate change, Société Générale Maroc intends to reinforce this dynamic through a series of initiatives in 2022.
It should be recalled that the Bank signed, at the beginning of 2022, a new financial agreement with the EBRD worth 25 million euros, relating to a new financing line “Green Energy Financing Facility” for the benefit of Moroccan companies.