An annual promotional event organized in France and several other countries by the FAIR collective, Solidarity Finance Week aims to promote investments in the sustainable, solidarity-based economy. Responsible investment has become very popular, and is now at the heart of the concerns of many economic players keen to combine profitable investment with a positive impact on society.
What is Solidarity Finance Week? What's the latest news on the event? Birdee takes a look back at the 16ᵉ edition of the event, which took place from November 13 to 20.
A collective, nationwide event, Solidarity Finance Week is a public communication tool developed by the association Financer, Accompagner, Impacter, Rassembler (FAIR). In concrete terms, the event aims to raise awareness of the importance of solidarity finance among the general public, institutions and companies. Organized over 15 years ago, the initiative was born out of a growing need to motivate investors to turn to impact-based financial products that also offer increasingly attractive returns.
In a context where investors are looking to give meaning to their money, funders want to ensure that their investment has a positive impact by helping to solve social and environmental problems such as equal opportunities, inclusivity or ecological action.
💡 Don't confuse solidarity finance with Socially Responsible Investment (SRI). In addition to selecting listed companies that respect ethical values, solidarity finance goes a step further by measuring the overall usefulness of the activities financed in terms of sustainable actions.
Since 2018, the Ministry of Europe and Foreign Affairs has been supporting Solidarity Finance Week as part of its "Innovating Together" strategy, promoting a sustainable and inclusive economy on an international scale for the Agenda 2030. And with good reason! Solidarity finance helps finance impact projects in developing countries, contributing to the Sustainable Development Goals (SDGs).
In 2021, solidarity financing for international projects rose to €72m, with a predominance for projects in Africa. The projects highlighted by the event are recognized by the Finansol label, which certifies the solidarity of financial products, guiding investments towards positive initiatives for the environment and the human condition.
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♻️ Like the SRI and Greenfin labels, the Finansol label applies to all types of financial investment (passbooks, term accounts, life insurance, etc.). In 2020, the label listed 166 solidarity-based financial products. |
Organized this year from November 13 to 20, 2023 in France and countries around the world, the 16ᵉ edition of the movement features a variety of educational events with the aim of informing the public and investors about solidarity investment practices.
Numerous events, workshops, conferences and debates are organized to educate and inform the public about the principles and benefits of solidarity finance on the occasion of this annual movement. The event is also an opportunity to showcase players in the sector, such as credit institutions, investment funds, associations and organizations respecting a Corporate Social Responsibility (CSR) approach.
The event promotes responsible investment and brings together similar movements such as Socially Responsible Investment (SRI) Week and Social Solidarity Economy (SSE) Week.
In 2022, French solidarity savings grew by 7.4% year-on-year. Collections enabled 4.8 million euros of donations to be made to associations, generating 841.5 million euros. These funds encouraged numerous projects with a social or environmental impact, such as agricultural cooperatives, social enterprises and rehousing.
The 16ᵉ Solidarity Finance Week concluded with the presentation of the "roadmap for the SSE" by the Minister for SMEs and Trade, Olivia Grégoire. The objective? To bring effective solutions for an inclusive and sustainable economy.
🚀 Don't wait any longer to save for a cause that's close to your heart!