Micro-Credit, Macro-Impact with BABYLOAN

Case Study

Fishing Business Emelia’s fishing business in the Philippines

Challenge

The challenge is twofold:

  1. Contribute to the long-term development of the communities in which CGG operates, even if our data acquisition operations never last more than a few months;
  2. Bring together CGG employees worldwide via international loan programs.

Background

In 2012, CGG started a partnership with Babyloan, a crowdfunding platform where participants can lend money to micro entrepreneurs worldwide. The aim for CGG was to switch its social responsibility approach from pure philanthropy to rather support the autonomy of communities in their livelihoods.

Solution

Supporting micro entrepreneurs in the countries in which we operate seemed a good solution, both to involve our employees in tangible projects on an international scale, and have a local and direct positive impact on the local populations. Indeed, micro entrepreneurs can become more self-sufficient when they are given the opportunity to develop their own project and pay back the loans.

Micro entrepreneurs can become more self-sufficient when they are given the opportunity to develop their own project and pay back the loans.

The first solidarity challenge organized in 2012 enabled more than 100 small businesses to be financed by 150 CGG employees. In 2013, 292 CGG employees of 22 different nationalities helped finance 124 projects.

As an example, two micro entrepreneurs from Indonesia, Fatima and Jibriel, were able – thanks to Babyloan and the help of CGG employees – to expand their livestock of goats and earn a decent living. They could even afford to send their six children to school and employ one person.

Results

Since 2012, CGG employees and corporate funds have helped to fully or partially finance more than 4000 small business projects for an equivalent 750 000 € of loans. CGG also continues to pay transaction fees for all participating employees

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Sustainability - Social Responsibility

Social Responsibility

CGG contributes to the economic and social development of the communities in which we have the privilege to operate.
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Sustainable Development Strategy

Operating safely and with integrity in order to deliver sustainable performance.

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Ethics

The CGG Group is built on a foundation of values and ethics.

Sustainability

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SUSTAINABLE DEVELOPMENT POLICY

Read more about CGG commitments towards sustainability.