FINANSOL Launched in 1995, Finansol is an association that brings together financial institutions engaged in the promotion and/or management of solidarity-based financing vehicles and tools (banks, insurance companies and asset managers) and a variety of social enterprises, associations, cooperatives, investment clubs and others whose missions and activities are directly linked to addressing a social and/or environmental challenge.
Exploring social impact investing in France
Social impact investing can be found across Europe in a variety of forms. In France, investments and financing that are based on a double bottom-line of return – a clearly social and/or environmental impact in addition to a modest financial return – fall under the term ‘finance solidaire’, that we will translate as solidarity-based finance.
Study on ‘90/10’ funds (2018)
Since their creation in France in February 2001, solidarity-based funds, commonly known as ‘90/10 funds’, have rapidly become the primary mechanism for collecting solidarity-based savings. With €8.6 billion as at 31/12/2017, total ‘90/10’ funds deposits have multiplied by 5.5 in 8 years This study looks at the evolution of ‘90/10’ funds 8 years after the introduction. It primarily focuses on solidarity-based employee savings funds, but looking at them a little more broadly, since it also covers ‘90/10’ funds sold by banks, insurance companies and mutuals. With the publication of this study on “90-10” funds, Finansol is looking, based on the principle of transparency, to disseminate the knowledge of the solidarity-based finance mechanisms, but also to help the actors of the sector to improve products for individual savings.
The financial innovation towards solidarity
The first label to emerge in the field of ethical finance and still the only one in the field of solidarity-based finance, the Finansol label celebrated its 20th anniversary in May 2017.This label was created to promote the principle of solidarity in savings and finance. To mark 20 years of its label, Finansol has decided to publish a document that retraces its emblematic financial innovations in solidarity-based finance during that period. Each of which corresponding to one of the three solidarity-based savings modes: solidarity-based citizen capital, sharing return savings and the solidarity-based funds referred to as ‘90/10’ funds. Each chapter follows a common structure, and includes: