This “future climate savings plan” intended for miners to finance low-carbon projects, was presented this morning to the Council of Ministers as part of the Green Industry Bill.
The rate is not yet fixed precisely, but the remuneration of this savings plan will be higher than that of the Livret A. It will benefit from exceptional tax conditions, zero tax and zero contribution. The deposit ceiling will be aligned with that of the Livret A, i.e. 22,950 euros.
>> What is the new “future climate savings plan” intended to finance green industry and reserved for minors?
Distributed by banks and insurers, this climate savings plan can be opened by parents as soon as their child is born. But so that the money placed can finance long-term projects, the account holder cannot make withdrawals before reaching majority, except for accidents of life.
Savings fully guaranteed?
This is announced by the Ministry of the Economy, but tax experts put some caveats. Both the funds deposited in the Livret A are guaranteed by the public authorities and the rate of return decided by the State. In the case of the future climate savings plan, the sums deposited will be invested by bankers and insurers in industrial projects. These will therefore be riskier bets than traditional regulated savings.
At the beginning, the investments will be very risky and will become less and less so, as the owner approaches the age of majority so that the latter can regain his initial stake with a capital gain. In reality, the risk will be borne for 18 years by the investors and not the saver, capital ultimately guaranteed.
Collection expected
In full potential, the State intends to recover from this device one billion euros each year. The allocation of the funds will be controlled by the financial arm of the State, the Caisse des dépôts et consignations, to ensure that the money is well directed towards low carbon projects, SMEs which manufacture electric batteries, hydrogen and any other strictly ecological project.
The message is clear: industry and the energy transition will require a lot of capital. Future projects financed by young people to constitute themselves a small capital… with a useful arrow of their savings at least until their majority, and after if they wish to continue.