These large companies have decided to devote part of their profits to environmental and solidarity projects.

It’s risk taking”total, yes we make money, we are very efficient from an operational point of view, but we will put this efficiency at the service of the common good, of collective utility“, assured Thursday, January 5 on RTL Nicolas Théry, the president of Crédit Mutuel Alliance Fédérale, which brings together 14 of the 18 federations of the bank.

With 3.5 billion euros in net profit made in 2021, around 500 million euros could be donated if the results for 2022 are equivalent. “To our knowledge, this is the first time that a French company of this size has implemented such a measure.” and it’s “really a very good initiative“, greeted Cécile Duflot, director general of the NGO Oxfam France.

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Mutual credit “demonstrates with this societal dividend that another path is possible“, abounded Marlène Schiappa, Secretary of State in charge of the Social and Solidarity Economy and Associative Life, speaking of a “strong, innovative, interesting action“. Laurent Berger, general secretary of the CFDT, was also laudatory in estimating that the bank was in the process of “walk the talk“with this”strong act carried out by a large company“.

The bigger the company, the greater the responsibility

At the same time, the insurer Maif announced the creation of a new kind of dividend, a “ecological dividend“Consisting of donating 10% of its profits each year to climate solidarity and environmental protection projects. biodiversityor nearly 10 million euros for 2022.”When you are a company and a fortiori a large company, it turns out that you have greater resources and therefore also greater responsibility.“, argued Thursday his boss Pascal Demurger on France Inter.

In concrete terms, for Crédit Mutuel Alliance Fédérale, this “societal dividend” will be divided into three large sets. Half will go to an investment fund with no financial return objective to support environmental, social entrepreneurs and non-profitable projects. The investment will be made through equity investments and possible earnings in the long term will replenish the fund and will not rise in the group.

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Crédit Mutuel Alliance Fédérale will also multiply its sponsorship actions by ten, which will be increased from 6 to 60 million euros per year. Around 15% of the total societal dividend will be allocated to these actions. The group’s foundation will thus become, according to the bank, the leading corporate foundation in terms of donations. Finally, the establishment will allocate a third of the sum (35%) to actions “transformation of banking and insurance practices“such as advantageous offers for the most modest households.

An example for other large companies?

There is no tax optimization“, assured during a presentation to the press Mr. Théry, specifying that the fiscal impact of these measures will be minimal, only the actions of patronage giving rise to tax credits. According to him, it would be enough that some 200 other large companies are implementing similar measures to cover France’s investment needs in the ecological and energy transition, estimated at between 80 and 120 billion euros.

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During a round table organized by the bank, Dominique Carlac’h, vice-president and spokesperson for Medef, welcomed Crédit Mutuel’s initiative, emphasizing the “colossal“of the amounts committed. However, she noted that this was only possible because of the good financial health of the group, speaking out against an obligation which would be extended to all companies.

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These large companies have decided to devote part of their profits to environmental and solidarity projects.