Societe Generale joins the Hydrogen Council, supporting the development of hydrogen for energy transition
Through this membership, the Bank commits to leveraging its expertise in innovative financing and energy advisory to help create tomorrow’s low-carbon hydrogen solutions. Societe Generale has joined the Hydrogen Council, a global CEO-led initiative launched during the 2017 World Economic Forum in Davos bringing together large corporates from the industry, shipping, transport and energy sectors. The 77 member companies worldwide, including financial institutions such as Societe Generale, are convinced that hydrogen has the capacity to accelerate the transition towards green and sustainable energy at both a global and local level. By 2050 low-carbon hydrogen solutions could meet 18% of the world’s energy demands and avoid 6GT* of CO2 emissions, highlighting its potential regarding the energy transition.
Societe Generale has more specifically joined the Investor Group, a newly-created group within the Council that will be responsible for creating new economic models for low-carbon hydrogen solutions to aid their future large-scale commercialisation.
“As an active supporter of the energy transition, Societe Generale is confident in low-carbon hydrogen’s potential and wants to contribute to further developing these solutions, in light of our pioneering initiatives in solar and wind energy. Natural Resources and Infrastructure financing is a core franchise of the Bank, which seeks to put its innovation, advisory and structuring capacities at the service of this promising energy.”
Olivier Musset, Global Head of the Energy Group for Societe Generale Corporate & Investment Banking
“Low-carbon hydrogen is already a reality but the means to finance it on a large-scale are not. We are proud that Societe Generale, an active supporter of energy transition and a leading player in the field of renewable energies for over 10 years, will leverage its expertise to solve this economic question.”
Louis-Aynard de Clermont Tonnerre, Head of Power, Utilities & Infrastructure Industry Group