Paris-based Société Générale SA extended its reduction of coal involvement in a new policy that will be published before July 1, according to a May 23 release.

The bank will end its financial services and product offering to companies that use 50% or more thermal coal in their activities and to companies using between 30% and 50% thermal coal that do not have a strategy to reduce thermal coal use to 30% by 2025.

At the end of 2018, the bank reached its 2020 objective of limiting its coal financing to 19% of the energy mix.