Issues
All over the world, energy is an essential driver of economic and social development as well as a determining factor for standards of living.
In France, 3 million households suffer from fuel poverty. Most reside in flats riddled with ‘cold bridges’, where the insulation is poor. Heating these homes causes energy bills to soar, just as scorching temperatures turn them into ‘thermal kettles’. As a result, the renovation of these homes is both a social issue and an environmental one.
Worldwide, 775 million people lack access to electricity, three-quarters of whom live in Africa. Electricity costs in West Africa are among the highest in the sub-Saharan region, a situation that deprives 220 million people of electricity.
Actions
Watt For Change, the VALOREM Group’s endowment fund and foundation, works in France and around the world to combat fuel poverty and promote access to renewable energy.
Since 2021, Watt For Change and Mirova Foundation have been jointly financing both energy renovation projects in France and projects to provide access to green energy around the world.
In France, the selection process favours local non-pofit associations that provide support for the most disadvantaged segments of the population ranging from advice to energy renovation work, while promoting access to renewable energy. Especially important are the deployment of social, financial and technical support services, as well as setting up funds to advance the cost of renovation or finance remaining costs after public and private subsidies. Internationally, the projects supported revolve around developing renewable energy, coupled with other systems such as methanisation (anaerobic digestion) or biofuel production to meet the challenge of electrification and access to energy in rural areas. These technologies are both accessible and environmentally friendly and the projects supported promote the creation of micro-businesses, provide reliable power for healthcare facilities and improve access to education.
Key figures
Our support
- Multi-year partnership since 2021
- Financial support
- Skills sponsorship of Mirova employees specializing in energy transition issues
- Outreach and raising awarenes