business

five winners and a law

five winners and a law

The ninth Solidarity Finance Grand Prix testifies to the vitality of the sector, while the Pact Act makes some progress to support this.

For the ninth time, The world and the Finansol Association reward projects with a high social or ecological added value that fall within the domain of the social and solidarity economy (ESS). A parallel economy that is largely fueled by solidarity funding. Each laureate receives a donation of 5,000 euros thanks to the support of our partners: MAIF, France active, the Fondation Crédit Coopératif and Mirova, the subsidiary of Natixis, specialized in responsible investment. The ceremony of Monday, November 5 in the early evening at the Steel House in Paris, the beginning of the week of Solidarity Finance, which runs until 12 November.

Solidarity financing is in a good dynamic, with concrete results: 45,000 jobs created or consolidated, 3,700 people relocated, 36,000 households supplied with renewable energy, 80 actors are supported in developing countries …

Little known, ESS still weighs significantly in the French economy. It has more than 164,000 companies with nearly 2.4 million employees, representing 10.5% of employment in France and 14% of private employment. Moreover, it is often a spearhead in sectors whose development is vital for the future of the planet, such as organic farming, waste processing and the production of civil and renewable energy. In the short term, the SSE facilitates the contribution of populations in difficulty and contributes to the fight against unemployment.

Solidarity financing is in turn a good dynamic. At the end of 2017, the outstanding amount of this type of savings reached 11.5 billion euros, an increase of 18.3% over a year. With concrete results: 45,000 jobs created or consolidated, 3,700 people relocated, 36,000 households provided with renewable energy, 80 actors supported in developing countries … But in strong development, solidarity finances "Remains unknown in public opinion: it represents only 0.23% of the total savings of the French," deplores Frédéric Tiberghien, president of Finansol. Solidarity savings products are not put forward and "You often have to ask your banker"he emphasizes. According to him, on the government side, "Listening is fun, but the passage to the act is difficult".

A budget of 25%

The tack-law (draft law on the growth and transformation of companies), which was approved by the National Assembly in first reading on 9 October, contains a number of measures that go in the right direction. The abolition of the social package – a the contribution paid by the employer, levied on income or income that is not subject to contributions and social contributions – in small companies, the development of savings should be made possible, which in turn should benefit solidarity financing, especially thanks to the so-called "90-10" funds, which spend 5% to 10% of their investments on solidarity-based companies.

As with employee savings plans, all life insurance policies must include solidarity or green units of account, which will promote both the development of green finance and solidarity financing. Another novelty, the adoption of solidarity-based enterprises of social benefit (called "ESUS"), which are eligible for solidarity funding, should be relaxed. Moreover, the post that was entrusted to Christophe Itier, High Commissioner for Social and Solidarity Economy and Social Innovation with the Minister of State, Minister for Ecological and Solidarity Transition, had to increase his budget by 25% according to the Finance Act of 2019.

Some progress, undoubtedly, but still modest in the light of the economic, social and environmental challenges of companies in the solidarity sector.

Grand Prix of solidarity funding, in collaboration with France Info.

The five winners of 2018:

Kopakama
A Rwandan agricultural cooperative that processes and sells sustainable coffee.

The narcissus of Little Occitanie

An association of popular education through science, on issues related to ecological and social transitions, for neighborhood youth.

Ercisol
A cooperative that produces and distributes renewable energy.

Funeral Cooperative of Nantes

A cooperative that offers services of funeral organization in a respectful approach of supervised public.

the flight
A device for social and professional inclusion through art for young school leavers or young adults in a situation of failure and exclusion.

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