Sound the oboe, sound bagpipes, the end-of-year celebrations are coming, the New Year's Eve too, accompanied by questions about money.
How to save when inflation is high?
If so, can I direct this money to finance projects with solidarity and environmental goals?
We talk about these questions in this episode of
Minute Papillon!
with Patrick Sapy, CEO of FAIR.
This association manages the Finansol label, created in 1997, to distinguish solidarity savings products from other savings products for the general public.
This label notably assures savers that their money contributes to the financing of activities generating social or environmental utility.
Among them, access to employment, housing, support for organic farming and renewable energies or even entrepreneurship in developing countries.
How to save in solidarity, in transparency?
In this interview, to listen to above, Patrick Sapy recalls that “solidarity finance is the power of individual savers to finance social utility projects that offer solutions to meet unmet social or environmental needs.
Solidarity finance, developed in France in the 1980s, contributed to the birth of a financial label called "Finansol".
“Impact finance, which is more recent, born rather in Anglo-Saxon countries, he underlines, is more an institutional finance, reserved for financial actors, investment funds, but which has the same object: to invest money for projects that offer innovative solutions and aim to solve unmet social or environmental needs.
»
“5,000 euros on an account represents a round trip from Paris to New York”
Did you know ?
Your savings can represent a heavy weight of your carbon footprint.
Indeed, banks play a key role in the climate equation: they can finance this transition… Or contribute to aggravating the crisis by financing the development of activities incompatible with climate objectives, such as the oil industries.
“The first five French banks have financed more than 4,000 billion dollars of [oil] or gas projects using the savings of the French, notes Patrick Sapy.
About 5,000 euros left in a bank account, this represents, in carbon footprint, a round trip between Paris and New York.
Money held in the bank has real power!
And it is possible to orient it differently.
»
What is the “Finansol” label?
“There is a solidarity financial product called Finansol, which has existed for 25 years, which aims to distinguish solidarity savings products from others, answers Patrick Sapy in this podcast.
With this label, you have the certainty that your money is well invested where you want it to be invested.
»
Solidarity employee savings in full expansion
Did you know that “solidarity” employee savings represent the bulk of solidarity savings in France today?
“There are 24 billion euros of solidarity savings in our country, recalls Patrick Sapy.
It is still very small compared to all the savings of French women and men, which represents more than 6,000 billion euros.
(…) If you are an employee of a company, if you have a company savings plan (…), look at the offer, you must have at least one solidarity savings product in which to invest your savings”.
Let's pose a practical case: What if we have 1,000 euros, and we start to work?
The associative leader advises you in this podcast on a distribution of this money, recalling that any investment is subject to risk.
Good listening !
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