FR – Publication of the Climate Future Savings Plan (PEAC)
01/02/2024
On October 11, 2023, the law on green industry was definitively adopted and published in the Journal Officiel on October 24, 2023 (LOI n° 2023-973, article 34). The law provides for the introduction of a future climate savings plan (PEAC) to encourage young French people to save for the climate transition.
This savings product could be distributed by banks and insurance companies and opened as soon as a child is born. Its income should be exempt from tax and social security contributions, as provided for in the Finance Bill for 2024. The operating procedures for the PEAC, in particular its opening and management conditions, will be specified by decree.
The scheme would come into effect no later than July 1, 2024.