The market is growing but remains discreet. With 30 billion euros ofin progress – for comparison, the livret A alone exceeds 400 billion euros in outstanding amounts – and a growth 10 to 15% per year for ten years, solidarity finance is no longer a confidential niche. The number of savers has doubled in ten years, from one million in 2014 to around two million in 2025-2026. However, the sector still represents only 0.5% of thesavings overall of the French, far from the liquid and risk-free supports which dominate investment choices.
For Patrick Sapy, general director of FAIR, the association which manages the Finansol label, several obstacles explain this ceiling. “The financial advisor of a bank, an insurer or a CGP will propose mass products present in the offer. He will not spontaneously go looking for a savings or investment product with a slightly more confidential social and ecological impact, to offer it to his client.” Added to this distribution failure is a stubborn preconceived idea, that of a yield systematically lower. The 2026 landscape tells a different story.
4 labels to know to avoid greenwashing
Two public labels structure the offer. THE ISR label (Socially Responsible Investment) certifies general savings products which select companies on three criteria, environment, governance and social policy. Managed by the State, it is the most widely used in the life insurance and funds market. THE label Greenfinmore recent and managed by the Ministry of Ecological Transition, specifically targets green funds by excluding fossil fuels. More demanding than ISR on climate, it nevertheless remains less widespread.
Two private labels complete the landscape. THE Finansol labelthe oldest (created in 1995), makes it possible to distinguish solidarity savings products, the funds collected from which finance projects with a social and ecological impact. It is the reference label for those who want to finance social housing, community-based renewable energies, integration or organic agriculture. THE CIES label (Inter-union Employee Savings Committee), managed by union organizations, supervises the solidarity supports accessible via a company savings plan.
Patrick Sapy summarizes the reading grid. “You have two public labels and then you have two labels from civil society, since the Finansol label also comes from civil society, in particular from citizen organizations of thesocial and solidarity economy.” A practical benchmark for the saver, the more demanding the label is on the traceability of the funds invested, the higher the portion dedicated to projects with real impact.
Allocate 10 to 20% of your portfolio: the step-by-step method
To build a responsible savings strategy, several solutions exist. THE Savings book for the others, Crédit Mutuel displays a gross rate of return of 2.20% per year according to Patrick Sapy, with guaranteed capital and total liquidity. Part of the interest is donated to a partner association. THE solidarity funds distributed in life insuranceas a solidarity unit of account or in employee savings “These funds, which are essentially equity funds, have roughly similar returns to traditional equity funds as long as you keep them for at least 5 years.”specifies the CEO of FAIR. The observed returns can reach 5 to 10% per year over a period of five years, with a capital risk identical to that of the equity markets. Any company savings plan must now also offer at least one solidarity support, which makes it the primary engine of growth in the sector, we are talking aboutsolidarity employee savings. Another tool, the Green SCPIs And green bondson which the 2024-2025 returns oscillate between 4 and 5% for the best SCPIs labeled ISR, and 3 to 4% for green sovereign bonds, provided you are ready to immobilize your capital over 8 to 10 years.
Finally, thedirect investment in the capital of a solidarity companyvia a specialized platform or unlisted shares. The speaking example in 2026 is Shared Energy (share at 129 euros, + 3.3% per year since 2019, dividends paid three consecutive years, ESUS approval and Finansol label). The tax advantage is the most powerful of the system. “You have a tax advantage of 25%, in the form of a tax reduction. For 1,000 euros invested, the State reimburses you 250 euros for the year of your investment if you keep the securities for at least five years.”explains Patrick Sapy. The device is extended until 2027. On the arbitration side, a solidarity envelope around 10 to 20% of a diversified portfolio remains a prudent benchmark, adjustable according to the risk profile.
The returns quoted are indicative and based on past performance which is not indicative of future results. Investments in equity funds and direct securities carry a risk of capital loss. The 25% tax advantage for direct investment in an ESUS company is conditional on holding for at least 5 years. System extended until the end of 2027 in its current configuration.
