French lender Société Générale and Chinese energy group Envision have signed a memorandum of understanding to advance the development of green technologies, and optimize the carbon footprint of businesses, as part of the global energy transition.

Under the memorandum, the bank will support Envision’s green technology developments, such as smart wind farms, green hydrogen, battery gigafactories and net-zero industrial parks projects, through a wide range of sustainable finance and investment banking offerings.

This collaboration already has a solid track record as the bank played a lead role in the advisory and financing of a battery gigafactory project and contributed to decarbonization efforts in France and the rest of the world.

On a non-exclusive basis, the lender will also explore the application of Envision’s net-zero technologies and decarbonization solutions to support the carbon footprint reduction of the bank and its clients.

“Reaching net zero will require collective action,” says Lei Zhang, Envision’s founder and CEO. “Our partnership with Société Générale will allow us to scale the development of our suite of innovative green technologies, accelerating the deployment of renewable energy systems as well as reducing the carbon emissions of the bank itself.”