French Financial Giant Leverages Ethereum For Issuing First Green Bond Worth $11M
Portfolio Pulse from Khyathi Dalal
Societe Generale (OTC:SCGLY) has issued its first digital green bond on the Ethereum blockchain, worth $11 million, through its subsidiary SG-Forge. The bond, with a three-year maturity, is aimed at financing ESG-classified products and companies. It was fully subscribed by AXA Investment Managers and Generali Investments using Société Générale’s EUR CoinVertible stablecoin. The use of Ethereum's blockchain is noted for its low greenhouse gas emissions, and the bond offers transparency and efficiency in transactions.
December 05, 2023 | 4:15 pm
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Societe Generale has successfully issued a digital green bond on the Ethereum blockchain, indicating a forward-thinking approach to ESG financing and blockchain technology.
The successful issuance of a green bond on a public blockchain by Societe Generale demonstrates the company's innovative approach to ESG financing and may attract positive attention from investors interested in sustainable and technologically advanced financial products. This could potentially lead to a short-term positive impact on SCGLY's stock price.
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