2023-11-13 07:03:16
“She’s 40 this year. She has everything to seduce: beauty of soul, singularity, committed to a better world, creator of social bonds… and yet, less than 1% of French savers turn to her. Who is it ? Solidarity finance! »
It is with this riddle, in the form of a cry from the heart, that the forum signed by thirty-six actors in the social and solidarity economy (Crédit coopératif, Fair, Emmaüs France, Terre & Humanisme, Groupe SOS, etc.) opens. , published on the website of The cross.“Solidarity finance, what if we made it better known? »they call out.
In 1983, Crédit coopératif and CCFD-Terre solidaire launched the first solidarity financial mechanism in Europe. The creation of a sharing fund (the Hunger and Development mutual fund) and a solidarity investor (International Solidarity for Development and Investment) makes it possible for the first time to finance development projects in the countries of the South, from individual savings.
Collection on the rise
Forty years later, this initiative gave birth to an alternative financial ecosystem, offering the possibility of investing one’s savings in labeled investment products (banking products, life insurance contracts, etc.) used to finance projects strong social and/or environmental utility, and possibly to donate part of the income thus generated to cooperatives, local farmers, microfinance institutions or associations helping the most deprived.
Continuously increasing for ten years, the collection of solidarity savings reached 26.3 billion in 2022 (+ 7.4% over one year), revealed in June in The cross the 21st Barometer of solidarity finance from the Fair association. It has more than doubled in ten years. But if it soared during the health crisis, it only represents 0.45% of French household savings. And its progress slowed last year.
Bad times for savings
Why does she stay “too little known”while “changes the course of things in the territories” et “provides social or environmental solutions” ? asks the tribune. Is it because we are talking more about socially responsible investment (SRI), even though it is mainly in traditional companies? Or because it doesn’t bring in enough?
Its development is “hampered by the economic context”meets the 2nd edition of thestudy on “The French and solidarity savings” of Opinion Way for France active, the main solidarity investment company. In a context of greater reluctance towards savings, only a quarter of the 39% of French people planning to maintain or increase their level of savings next year would like to “savings with a solidarity purpose”.
Poorly informed French people
Furthermore, two thirds of those questioned feel “misinformed” on projects supported by their savings (67%), are unaware of how the money is used (66%), what its profitability is (66%) or how, concretely, to invest in solidarity (64%).
The Finansol association, which became Fair in 2021, spares no effort to make itself known and develop. Nearly 200 investments are now labeled Finansol, all subject to increased requirements. “Every year, we dismantle the engine of the projects to which the label is awarded to check that the money is well used and that there is no deviation,” recalls Patrick Sapy, the general director of Fair.
Involve the banks?
Last year, solidarity savings made it possible to pay 4.8 million euros in donations to associations, and to finance, for 841.5 million euros (+ 22%), 1,590 projects “with social or environmental impact”. This financing is essential for cooperatives like the Emmaüs online sales store, not profitable enough for banks and “ not eligible for sponsorship ». ” Since seven years, recalls Maud Sarda, co-founder of Label Emmaüs, we trained 1,500 low-skilled people in online sales tools, enabling them to acquire highly sought-after skills. »
Today, individuals can also invest directly in the capital of a solidarity company. One billion euros was collected last year via this direct savings mechanism which appeals to young people.
Another thirteen billion come from savings plans offered to employees. “ A dynamic exists at this level. But do banks offer their customers solidarity products, alongside the Livret A? We would need them to better take into account, with insurance and mutual societies, the possibility of the Pacte law to finance the solidarity economy via life insurance since January 2022. », insists Pierre-René Lemas, president of France active. His movement advocates “a national plan for the development of the social and solidarity economy”.
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An ISR label excluding fossil fuels
Unlike solidarity finance, Socially responsible investment (SRI) is mainly intended for listed companies that have responsible approaches.
According to Bercy, ISR represents an outstanding amount of 773 billion euros, compared to 26 billion euros for solidarity savings in 2022.
Small revolution announced at the beginning of November by Bercy: a new, more demanding version of the ISR label will come into force in March 2024. Any investment in fossil fuels will be excluded.
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