News

06.18.2013

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PIERRE-CHARLES

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The barometer of social finance increases!

Finansol in partnership with the newspaper La Croix has recently released its report on social finance in France.

French people have a particular interest in solidarity savings products . It appeared 30 years ago with the Catholic Committee against Hunger and for Development (CCFD) to provide capital for Microcredit Institutions and emerging companies in emerging countries.

When Finansol published the barometer, we note that all indicators are increasing. Currently, outstanding solidarity savings amount to 4.7 billion euros, it is his best annual gain since 2009.

The Finansol objective, namely, to achieve that 1% of financial assets are invested in French solidarity finance can be reached probably sooner than expected.

Outstanding secured funding namely the amount actually invested in community projects was €1.024 billion, representing an increase of 16.5% compared to 2011.

This strong increase is explained by the development of employee savings, good performance of the financial markets in 2012, the increase in the collection of the passbook (via higher interest) and the success of solidary business which are able to raise capital.

Solidary savings allowed:

  • Supporting 12,000 businesses and the creation or consolidation of not less than 36 000 jobs
  • Putting up 4400 people in precarious situations
  • Supplying 4000 households with renewable electricity (oriented more towards solar and wind energy)
  • Supporting organic farming sector
  • Financing 20 million people living in developing countries who wish to start their own business

  • The increase of interest savings accounts, current good performance of the financial markets and better visibility of the social economy have significantly led to the development of social finance in 2012.

    Thus, projects supported by solidary savings have been possible especially in the area of ​​housing with new ideas for environmental protection. This is the case of Chênelet group or Tell'CoBois company established in 2007, building homes with low energy consumption with ecological materials.

    According to François De Witt, President of Finansol, several tracks for the future are possible:

  • Develop solidary life insurance , these savings represent 40% of the financial wealth of households' financial assets
  • Investing in real estate through civil REITs can finance structures such as Habitat & Humanisme and Solidarités Nouvelles pour le Logement
  • Finally, for the environment, it would be possible to give cheap loans to individuals who wish to equip themselves with heat pumps, solar panels ...

  • So many options are available to achieve the symbolic 1% of financial assets placed in French solidarity finance!

    Sources : Finansol - La Croix