Turning transition challenges into competitive advantage: a conversation with Societe Generale Chief Sustainability Officer, Hacina Py
What does it take to reinvent a bank's business model for the transition economy?
Blunomy CEO Sébastien Guillo explores this question with Hacina Py, Chief Sustainability Officer at Societe Generale, who led the bank's transformation from energy finance to transition leadership. Hacina reveals how the 2019 Green Deal catalyzed a decade-long strategy: understand sector-by-sector challenges, train the entire organization (5 hours mandatory for all, 10+ for executives), and set intensity-based targets that require developing new business models with clients—not just cutting exposure. The bank reduced upstream oil & gas by 80% while simultaneously creating opportunities through tools like TOP (Transition Opportunity Potential) and new financing products for corporate retail clients. "The signal is positive," Hacina explains. "It's not 'I stop, I quit'—it's 'I renew, I reinvent, and I transition with my clients.'" A masterclass in turning compliance into value creation.
