This savings plan reserved for those under 21, whose yield should be higher than that of the Livret A, could reach a billion euros in collection at its full potential, according to the executive.
The establishment of a “future climate savings plan”, open to those under 21 and which must be used to finance low-carbon projects within the framework of the law on green industry, is scheduled for July 1, according to a decree published on Sunday in the Official Journal. The objective of the green industry law, adopted in October 2023, is to reindustrialize France while promoting decarbonization. For example, the government wants to halve the time it takes to set up factories, and encourage the deployment of major decarbonization technologies, those of “big five” – wind power, photovoltaics, heat pumps, batteries, carbon-free hydrogen.
To finance this objective, the executive is banking on private savings (retirement savings, life insurance) and has provided in this law for the launch of a new product intended for the youngest, the “future climate savings plan”from which he indicated last year that he expected a billion euros in annual collection “to its full potential” for green industry. According to a series of three decrees published in the JO on Sunday, the implementation of this “future climate savings plan” will take place on July 1. “Only one plan per natural person can be opened” And “the amount of payments into the future climate savings plan has been limited to 22,950 euros since the plan was opened”it is notably specified.
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The savings set aside by parents for their children will be blocked until they reach the age of majority, an essential mechanism for “finance much longer-term projects needed for the ecological transition”, Bercy was indicated at the time. Distributed by traditional life insurance players (insurers, bankers, etc.), its return will depend on their investment strategies. In May 2023, the Minister of Economy and Finance, Bruno Le Maire, affirmed that the remuneration of this new product would be “superior” to that of the Livret A, the rate of which is currently 3%.
