The london-based Nontando Mpofu was unable to find a stable job for several years. The life of this single mother of a little girl has changed in November 2018. While she was visiting his page Facebook, it falls on a "post," published by his landlord: "If you are unemployed for six months - please contact us, we can help you". Less than a year after having responded to the advertisement, she found a full-time job within the retail chain Marks & Spencers.
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This beautiful story would not have occurred without the partnership unexpected of the charity association british bailleuse of social housing, London & Quadrant (L&Q), and the French bank BNP Paribas, tells the british newspaper The Guardian .
L&Q rent near 92,000 toö housing to nearly 250,000 people in London and the south-east of the country. In 2017, the association has contracted a loan of 108 million euros (100 million pounds) from the French bank. The two actors have agreed to a discount on the margin of the loan if the association manages to bring 600 of its residents unemployed to employment during the first year.
A dozen employees at L&Q are dedicated to this task. They re-read the RESUME, coach the candidate, accompany them to buy clothes for job interviews. In 2018, the target of 600 people has been largely achieved.Appropriations to impact
BNP Paribas and L&Q have not reported on the precise figures of their agreement. But to top this success, the loan is lengthened to four years, and L&Q has increased its efforts to find employment for 25 people. The released funds are reinvested in the foundation of the organization.
This type of credit called "credit impact", attracts a growing number of companies in france and internationally. Appeared in 2017, it allows companies and associations to obtain credit from a bank at a lower cost to the condition to achieve goals of environmental, social or governance. According to the evolution of these indicators, which are audited each year, the rate of credit paid by the company varies upwards or downwards in a range of 5% to 10% on average, and according to a price grid defined upstream.
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By 2018, these loans accounted for € 30 million ($34 million) at the global scale, is an amazing breakthrough of 677% from 2017, and mark already 15 billion euros by 2019, notes a report by Bloomberg published in January.A dozen French companies
In France, the associations have not yet been put to this type of loan, but a dozen of large companies are launched. Danone has raised a credit of two billion euros in exchange for guaranteeing the improvement of its ESG rating (environmental, social and governance). Same for AccorHotels, which borrows 1.2 billion euros on these criteria, or EDF, which in November 2018 held with € 4 billion the record for the amount borrowed. Side bank, Société Générale, Crédit Agricole, and BNP Paribas are in the forefront.
In London, BNP Paribas signed a similar agreement with Optivo, another association of the social housing sector which owns the 47,000 apartments and welcomes nearly 100,000 people. The goal would be to greatly exceed the threshold of 1000 people, the association helping to get in the saddle every year.Updated Date: 14 August 2019, 00:00