Financement

Bibliography

Économie, emploi - Ressources naturelles, énergie, environnement

Agir pour le climat. Entre éthique et profit

Agir pour le climat. Entre éthique et profit

Dans sa préface, Valérie Masson-Delmotte rappelle les origines et la geste du Groupe d’experts intergouvernemental sur l’évolution du climat (GIEC), dont elle est une responsable de haut niveau. Créé à la demande du G7, en 1988, sous la double tutelle de l’Organisation météorologique mondiale (OMM) et du Programme des Nations unies pour l’environnement (PNUE), il compte aujourd’hui 195 États membres. En 30 ans, le GIEC a rédigé cinq rapports périodiques, dont le premier a conduit ...

(encore 1067 mots)

Forum

Économie, emploi - Institutions - Population

Pension Reform: Issues and Hazards. Don’t Throw Out the Supplementary Schemes with the Bismarckian Bathwater

For a very long time now the future of pensions has posed a problem in France, mainly on account of the trend toward an imbalance between the number of workers contributing to the scheme and the number of inactive seniors. Many parametric reforms have already been adopted, though these have proved notoriously inadequate when it comes to providing sustainable remedies for pension funding problems. French President Emmanuel Macron has, therefore, declared his intention to carry out structural reform aimed at replacing the basic and supplementary schemes – there is a total of 42 of these – with a single points-based system in which the value of the points would be the main adjustment variable.

The High Commission for Pension Reform (HCRR) is tasked with implementing this reform which has been the object of fierce debate. That fact is attested here in the argument presented by Jean-Claude Angoulvant, who sees it as having two major shortcomings. The first is the desire to unify all schemes, overlooking the disparities between them and lumping together independent and categorial supplementary schemes, which he regards as being quite well managed. The second failing is the decision to have the system run by the state, which is a very poor long-term manager, rather than by the social partners and, in so doing, shifting the pension system from an insurance-based to a ‘Beveridgian’ logic. In keeping with our usual understanding of our Forum feature, this article expresses a viewpoint intended to stimulate our readers’ thinking on a reform project that is still under discussion.

Forum

Économie, emploi - Institutions - Population

Pensions: Full Steam Ahead to the Unified Scheme!

Following on from the opening Forum article in this issue by Jean-Claude Angoulvant on the pension reforms that are currently in the pipeline, Jacques Bichot, whose thoughts on this subject we have published regularly, calls for the shift to a unified scheme to be speeded up in France. A reform of this scope actually has to be undertaken as early as possible in a presidential term. But in order that the future unified pension scheme can operate simply, without obviating the need to take account of the specifics of different occupations and careers, he suggests that use be made of the (non-state) pension funds. These are, in his view, the appropriate instruments for developing the tailor-made options which make it possible to respond to these particularities and to support the process of unifying the various pension schemes.

Note de veille

Économie, emploi - Territoires, réseaux

De la force de l’économie chinoise

La création du réseau chinois de trains à grande vitesse (TGV) est un bon exemple de la rapidité de réalisation des grands investissements publics d’aménagement du territoire en Chine, fondement de sa puissance. On peut citer un autre projet, la dérivation de l’eau du Yang Tsé vers le nord pauvre en eau, dont la route orientale de Jiangdu à Tianjin et la route centrale du réservoir de Danjiangkou sur le Yang Tsé à Pékin sont en service depuis ...

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Revue

Entreprises, travail - Institutions

Social Enterprises in Europe: The Experience of Three European Countries

This autumn, Futuribles began a series on the contribution of enterprises to the promotion of the common good. Among the articles in that series was a presentation of the way French enterprises have been involved, over the years, in public interest missions – as well as various accounts by actors in organizations working in that general direction. That series is continued in this issue with another stakeholder testimony (a piece by Marianne Eshet on the SNCF Foundation) and with this article by Philippe-Henri Dutheil laying out the legal regime that applies to social enterprises in three of France’s European neighbours.

By the time this issue appears, the French Senate should have come to a decision on the PACTE law (Plan of Action for the Growth and Transformation of Enterprises), which was passed this autumn by the National Assembly and makes provision, among other things, for facilitating and regulating the new legal category of entreprise à mission (English: “benefit company” or “benefit corporation”), which first appeared in 2015 and allows enterprises to include their commitment to the general interest in their memorandum and articles of association. Here Philippe-Henri Dutheil outlines the legal options that enterprises have in Belgium, Italy and Luxemburg to encourage and enable them to play their part in promoting the common good. Since these three countries have legal systems quite similar to the French, they may serve as a source of inspiration to French lawmakers to continue down this same path.

Revue

Entreprises, travail - Société, modes de vie

Acting Together for the Common Good: The Experience of the SNCF Foundation

This autumn, Futuribles launched a series on the contributions of business to the common good. Among the proposed articles are various accounts from actors in organizations working to promote the general interest. After Initiative France and the Schneider Electric foundation, it falls to a large-scale public company, the French railway network, to outline the activities of its SNCF Foundation.

Marianne Eshet, General Secretary of the SNCF Foundation, shows, for example, how it contributes in France to improving the common good along two major lines of action: “Living together” and “Doing together”. She explains how the foundation’s collective strategies have emerged and how they have been embodied in partnerships, according to the needs identified. Three examples illustrate this commitment: “inter-associativity”, which aims to bring together various NGOs around a common project, is illustrated here by the “Doing Together with our Differences” programme; the co-construction of projects at the local level is exemplified by the Fabrique Opéra [Opera Factory] cultural project; and the co-construction of projects on a national scale by the development of the Alliance for Education. These variable-geometry partnerships show the relevance and success potential of more informal alliances and arrangements between enterprises, on the one hand, and public and private actors, on the other, to further the general interest.

Bibliography

Économie, emploi - Entreprises, travail

La Philanthropie privée pour le développement

La Philanthropie privée pour le développement

Depuis 2000, l’Organisation des Nations unies (ONU) se fixe des objectifs assez précis et ambitieux en faveur du développement à l’échelle mondiale. Après huit OMD (Objectifs du millénaire pour le développement) adoptés en 2000 et affichant des objectifs à l’horizon 2015, ce sont 17 ODD (Objectifs de développement durable) qui ont pris le relais en 2015, avec un horizon décalé à 2030 et des cibles tout aussi ambitieuses (éradiquer la pauvreté, la faim, promouvoir la santé, le ...

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Revue

Entreprises, travail - Territoires, réseaux

Citizen Engagement in the Regions: The Illuminating Example of “Initiative France”

This article by Jean-Pierre Worms forms part of the series begun in our September-October issue on the contribution made by companies to the common good. It is in three parts, which complement each other closely. In the first section, Worms stresses the colossal scale of the challenges facing us today, particularly at the ecological level, and hence the responsibilities we bear. In the second, he points out the limitations of — if not, indeed, the distortions produced by — a strictly rational conception of the economy, which leaves out of account the essential human factor, a factor whose boundless virtues he demonstrates. But this is not a purely exhortatory piece — far from it — as can be seen from the third section, in which Jean-Pierre Worms tells the story of “Initiative France”, which was founded in 1980 to promote the creation (and resumption) of activities and jobs in the regions. He relates the success of that project and provides some insights into how it was achieved.

Revue

Entreprises, travail - Société, modes de vie

Enterprises and Constructing the Common Good

Despite the “social welfare services” developed by entrepreneurs as early as the 19th century and later criticized as “paternalistic”, the view in France for many years was that it was virtually the exclusive role of enterprises to make profits for the benefit of their shareholders and that everything relating to the collective interest was almost exclusively the business of the state. However, this division of roles is perhaps being undermined today by a multitude of factors. On the one hand, enterprises can no longer ignore the aspirations of their staff to work for meaningful ends, nor the ethical concerns of their clients, nor the fact that they themselves draw on shared (natural) resources and their activities may be destructive of an ecosystem whose fragility is becoming clearly visible… On the other hand, states, which have limited resources, cannot do everything and are perhaps not meant to shoulder the burden of embodying the common good all on their own. These considerations lead to our having launched, under the direction of Marthe de La Taille-Rivero, a series of articles published over several issues of Futuribles on “Enterprises and Constructing the Common Good”.

It falls, then, quite naturally to Marthe de La Taille-Rivero to introduce this series with a first article which shows how a certain concern for the common good took shape in France, mainly after the Second World War—a concern driven by some major employers and often influenced by the Anglo-Saxon countries and goes on to indicate the crucial additional impetus given to this movement from the 1980s onwards by Jacques Rigaud, the chair of Admical (Association for the Development of Industrial and Commercial Sponsorship).

She also highlights how business support that was originally targeted towards cultural activities has diversified appreciably to take in social matters and, subsequently, problems of the environment and sustainable development, as well as local development issues. Her article also stresses that companies’ modes of intervention have themselves changed a great deal over time, with the development of Corporate Social and Environmental Responsibility (CSER) and sustainable development policies, alongside sponsorship of the arts and philanthropy. Is all this just part of corporate communications and image creation or does it represent a profound, enforced redistribution of roles, a hybridization of functions pregnant with a future that is quite unlike the past?

Note de veille

Économie, emploi - Territoires, réseaux

Financement participatif, un nouvel outil d’animation locale ?

Face à la réduction, depuis 2013, de la dotation globale de fonctionnement donnée par l’État aux collectivités locales, à la baisse des impôts locaux perçus suite à la suppression annoncée (pour 80 % des foyers) de la taxe d’habitation (qui devrait être compensée sans que l’on sache exactement comment), quels nouveaux modes de financement peut-on envisager pour les collectivités locales ? Il y a évidemment l’endettement mais, là aussi, l’État veille et la loi de programmation des ...

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Revue

Économie, emploi - Entreprises, travail - Institutions

The Unification of Pension Schemes: the Lessons of the Agirc-Arrco Experience

At the end of January, President Emmanuel Macron confirmed his intention to produce framework legislation for reforming the French pensions system. A bill, initially intended for the spring, should be presented late in the year, the aim being to finalize the reform by summer of 2019, at which point all the various schemes should, as far as is possible, be unified. A unification of this kind is a complex and potentially risky undertaking for the executive. Nevertheless, the experience of the Agirc-Arrco supplementary schemes indicates that nothing is impossible when those involved — in particular, the social partners — and the citizens are given responsibility for their management.

The supplementary schemes were faced with increasingly worrying funding problems, particularly after the 2009 crisis, when they were in deficit and forced to draw on their reserves. In 2014 the French Court of Audit keenly urged that such schemes face up to their problems. They subsequently undertook to merge into a single scheme and reform the conditions under which the supplementary pensions were paid, so as not to imperil the overall equilibrium of the system. Pierre Chaperon describes the context in which the merger was decided, the broad terms of the National Interprofessional Agreement under which it was carried out (in October 2015), and the levers used to implement it (combining parametric measurements and systemic thinking). The success of that reorganization no doubt has much to teach us about the reform of the national pensions system that is currently in preparation.

Analyse prospective

Géopolitique - Territoires, réseaux

Les nouvelles routes de la soie, entre discours et réalité

Propos liminaire : ce qui suit ne traite pas des conséquences économiques de la relance du commerce chinois susceptible de résulter de la politique dite des nouvelles routes de la soie ni n’essaye de dresser un portrait complet des projets rattachés à celle-ci. Il tente, à l’aide de quelques exemples, d’en esquisser les traits fondamentaux. L’Initiative chinoise des nouvelles routes de la soie, terrestres et maritimes — NRS dans ce qui suit —, est l’une des trois stratégies ...

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Bibliography

Économie, emploi - Ressources naturelles, énergie, environnement

Financer la transition énergétique

Financer la transition énergétique

Financer la transition énergétique, écrit par Alain Grandjean et Mireille Martini,est paru aux éditions de l’Atelier fin 2016 et s’est vu décerner le prix Marcel Boiteux d’économie de l’énergie remis par l’Association des économistes de l’énergie. Les auteurs sont spécialistes des questions climatiques, d’énergie et de financement, et leur livre s’appuie sur des travaux communs menés en 2015 et 2016, notamment avec Pascal Canfin et Gérard Mestrallet, sur les financements de ...

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Note de veille

Économie, emploi - Société, modes de vie

Logement en Europe : défis pour l’avenir

En moyenne au sein des 35 pays membres de l’OCDE (Organisation de coopération et de développement économiques), l’indice des prix du logement a augmenté de plus de 30 points en 20 ans. Et, entre 2000 et 2013, les dépenses consacrées au logement sont passées de 20 % du budget des ménages à près de 23 %. C’est ce que révèle une base de données récemment mise en ligne par l’OCDE [1], qui recense des indicateurs sur les caractéristiques ...

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Analyse prospective

Économie, emploi - Institutions - Santé

Quel financement pour la protection sociale ?

Le financement de la protection sociale est le sujet majeur des finances publiques. En effet, les dépenses de protection sociale représentent environ un tiers du produit intérieur brut (PIB) et les deux tiers des dépenses publiques. C’est dire si le sujet, mêlant sensibilité politique et complexité technique, est d’importance. Les pouvoirs publics ont d’ailleurs créé, en 2012, un Haut Conseil du financement de la protection sociale (HCFi-PS). Celui-ci est chargé d’établir un état des lieux du ...

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Bibliography

Ressources naturelles, énergie, environnement

The Future of Electricity in Fast-growing Economies

The Future of Electricity in Fast-growing Economies: Attracting Investment to Provide Affordable, Accessible and Sustainable Power

Based on a review by Pierre Papon Many reports, including from the International Energy Agency (IEA), have highlighted the developing countries’ urgent need to respond to the growing demand for electrical energy (there are 1.2 billion people on the planet who do not yet have access to electricity). With this report, the World Economic Forum takes the debate on this important question forward, drawing lessons from those policies that seem likely to meet with success. The Forum notes that ...

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Bibliography

Ressources naturelles, énergie, environnement

The Future of Electricity in Fast-growing Economies

The Future of Electricity in Fast-growing Economies: Attracting Investment to Provide Affordable, Accessible and Sustainable Power

De multiples rapports, dont ceux de l’Agence internationale de l’énergie (AIE), ont mis en évidence l’urgence de répondre à la demande croissante d’énergie électrique des pays en développement (1,2 milliard d’habitants de la planète n’ayant pas encore accès à l’électricité). Le Forum économique mondial poursuit le débat sur cette importante question, avec ce rapport, en tirant des leçons des politiques qui sont sur la voie du succès. Ce rapport s’inscrit à ...

(648 more words)

Bibliography

Économie, emploi - Territoires, réseaux

Le Nouvel Égoïsme territorial

En publiant Le Nouvel Égoïsme territorial, Laurent Davezies élargit le champ de sa réflexion. Après avoir décrit les fonctionnement et géographie des mécanismes de redistribution monétaire qui irriguent le développement des territoires à base économique résidentielle, après avoir alerté sur la fragilité d’un processus d’équilibrage et de solidarité qui repose sur le dynamisme des métropoles françaises dans la mondialisation et un niveau de transfert public que les contraintes budgétaires du pays ne semblent pas pouvoir maintenir, l’économiste ...

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Forum

Économie, emploi

Rescuing Supplementary Pensions: French Supplementary Pension Schemes in Peril

The decidedly worrying situation of the old-age insurance scheme that forms part of French social security provision is well known. The balance of that scheme was upset when the baby-boomers reached retirement age and it has been in deficit since 2005. We were less well aware of the equally worrying state of the supplementary pension schemes for employees and executives (schemes known as AGIRC and ARRCO), to which the French Court of Auditors drew attention in late 2014 with their assessment that these were in an alarming state and required urgent action. Since the beginning of the 2009 crisis, these supplementary schemes have recorded increasing deficits and, in order to pay the pensions due, have had to draw on their reserves, which could run out before 2023 so far as AGIRC and ARRCO taken together are concerned, or by early 2018 in the case of AGIRC alone, if the Court of Auditors’ calculations are correct.

As Jacques Bichot reminds us here, reforms have to be implemented as soon as possible, and these cannot be based on the same techniques as have been used over the last 30 years. The supplementary schemes now have to become more cost-effective and reactive in order to adapt rapidly, whenever necessary, to the vagaries of the economy. Jacques Bichot makes a number of recommendations along these lines: merging the different supplementary schemes, prior to these being merged with the basic pension scheme itself, and separating strategic from managerial responsibilities. He also specifies the tools that might be used to improve the management of pension schemes: changing the disbursement value of pension points, action on reference salaries and on the stock of points, the setting of a “pivot” age for the calculation of pensions, employing a coefficient of actuarial neutrality etc. These are proposals that are valid, as he sees it, for all schemes, both basic and supplementary. However, even if they are not to be applied across the board, they can be implemented right away in the supplementary schemes.

Note de veille

Économie, emploi - Société, modes de vie

Le crowdfunding peut-il bouleverser le marché immobilier ?

Le crowdfunding, ou financement participatif, connaît depuis quelques années un essor rapide. Il permet à des particuliers de participer au financement d’un projet dans n’importe quel secteur, comme la musique, les biens de consommation... Selon une récente étude, 7 % des Français ont déjà participé à une collecte en crowdfunding [1]. En 2014, 152 millions d’euros ont été collectés en France via des plates-formes de crowdfunding [2]. Derrière le terme de crowdfunding sont regroupées des pratiques très diverses ...

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Note de veille

L’avenir difficile du financement de la recherche

Le financement de la recherche a toujours été un sujet d’inquiétude pour les scientifiques et les gouvernements. Galilée, une figure de proue de la science moderne, a ainsi cherché l’appui financier de Venise, dont il était conseiller de l’Arsenal, puis des Médicis. Toutefois, depuis une trentaine d’années environ, le monde de la recherche publique a changé : les effectifs de chercheurs ont fortement augmenté, les coopérations internationales, notamment en Europe, se sont développées, l’informatique et les ...

(846 more words)

Document étude

Entreprises, travail

Les minibonds, un complément au crowdfunding ?

Pour contourner les contraintes liées à l’octroi de prêts par les banques, des entreprises britanniques se tournent vers leurs clients, grâce aux minibonds ou « mini obligations ». Il s’agit de prêts réalisés sans intermédiaires, sans passer par les marchés, qui sont donc à mi-chemin entre le microcrédit et le crowdfunding. Ils permettent à des consommateurs de prêter de l’argent à une entreprise pour une durée prévue dès le départ en échange de taux d’intérêt et/ou des ...

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Note de veille

Économie, emploi - Territoires, réseaux

L’urbanisme crowdfunded

En quelques années, le crowdfunding [1] est devenu une source de financement non négligeable pour le lancement de projets dans divers domaines (artistique, scientifique, etc.). Les avantages du crowdfunding sont multiples : transparence sur la circulation de l’argent et sur son utilisation pour le financement des projets, proximité entre le projet et l’internaute. Depuis 2008, plus de 800 plates-formes de financement participatif ont été créées dans le monde [2] et selon le magazine Forbes, le potentiel de financement du ...

(1110 more words)

Bibliography

Économie, emploi - Société, modes de vie

Crowdfunding, le financement participatif bouscule l’économie !

Dans ce livre, Vincent Ricordeau président et co-fondateur de la plate-forme française de crowdfunding Kisskissbankbank, revient sur la notion de crowdfunding, son histoire, son modèle économique et ses perspectives d’avenir. La première partie de l’ouvrage s’attache à définir le crowdfunding, ou finance participative, qui fait appel au grand public pour financer des projets. Elle revient sur les toutes premières expériences de crowdfunding, au XIXe siècle, puis sur son développement dans les années 2000 suite à la création ...

(455 more words)

Note de veille

Économie, emploi

Vers une nouvelle vague de privatisations ?

Les États riches restent très riches. Si, au passif, leur endettement atteint des niveaux souvent plus que préoccupants, à leur actif se trouvent des biens publics qui pourraient faire l’objet de privatisations. L’hebdomadaire libéral britannique The Economist met les pieds dans le plat, et dans les données. Dans l’ensemble de la zone OCDE (Organisation de coopération et de développement économiques), la valeur des entreprises publiques (détenues par les États) tourne autour de deux milliards de dollars US ...

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