A new plan to finance low-carbon projects through private savings was announced on Sunday, as part of the French government’s efforts to reindustrialize the country while promoting decarbonization. The green industry law, which was adopted in October 2023, aims to streamline the process of setting up factories and encourage the deployment of major decarbonization technologies such as wind power, photovoltaics, heat pumps, batteries, and carbon-free hydrogen.
To fund these initiatives, the government has created a new product called the future climate savings plan. This plan is open to individuals under the age of 21 and could generate up to a billion euros in annual collection for the green industry. Each individual can open only one plan with a maximum payment limit of 22,950 euros since its inception.
The savings contributed to this plan will be held until the child reaches majority age, ensuring that funds are available for long-term ecological projects. The return on investment for this new product will depend on the strategies of traditional life insurance players. The Minister of Economy and Finance, Bruno Le Maire, has stated that the remuneration for this new product will be higher than that of Livret A, currently yielding a rate of 3%.
