The Minister of Economy and Finance Bruno Le Maire wants to create “a green savings product” to direct the savings of the French towards projects supporting carbon neutrality, he declared Thursday during the presentation of a report by think tank The Shift Project.
Starting from the observation that savings are largely placed in France in very liquid products, such as the livret A, and therefore far from long-term projects useful for environmental transition, Bruno Le Maire wishes to look into the design of of a new tool. This green savings product will probably be a little less liquid than traditional savings investments, with no doubt a slightly higher share of risk but it will include the guarantee that each euro invested will go into a green project, explained the minister.
Vigilant of the risk of greenwashing, Bruno Le Maire promises controls to ensure that green investments are well directed towards online projects with the objective of carbon neutrality.
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Many financial products are presented as green but are only very partially, or even not at all, he judged, criticizing in particular the Sustainable and Solidarity Development Bookletwhich is durable and supportive only in name.
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For The Shift Project, finance has a major role to play in the fight against climate change, but climate issues are under-represented in the training of professionals economics and finance. This is the conclusion of the report published Thursday and which pleads for an overhaul of the programs. Money is not a problem, we will always find it, what is important is the way in which financial flows are directedestimated the Minister of the Economy.
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