2024 Impact Report

FOREWORD FROM OUR PRESIDENT

As a symbol, at the very moment when the European Commission is announcing a draft so-called Omnibus Directive, synonymous with setbacks and renunciations, the Enerfip Group is pleased to publish its 2nd impact report.

The original edition, published in March 2024, highlighted the European framework that has driven this incredible dynamic in terms of taking into account the extra-financial performance of companies and the need to measure their social, societal, and environmental impacts in our common future. In our view, these major developments are fundamentally a source of pride and honor for the European Union, which is positioning itself on these issues as a true world leader in the changes that we absolutely must make.

Yet, barely 12 months later, we are witnessing, stunned, a spectacular reversal of the situation, in which those nostalgic for a world that no longer exists are clinging to their illusions and questioning these initiatives. They are calling without hesitation for their abandonment, on the grounds that they would cause us to lose competitiveness. This resurgence of conservatism has not failed to affect the new administration of Ms. Ursula von der Leyen, who is preparing to unravel in the coming months, via this "Omnibus" directive, the innovations that notably constituted the CSRD and the Taxonomy. Yet it is under the aegis of this same Ms. von der Leyen that the EU had courageously produced these historic advances.

“Thinking and acting against the current fads and fashions is the beginning of wisdom.” Appropriating this phrase from Jean Prieur is not intended to position ourselves as wise, but rather as resisters. We are absolutely convinced that we must collectively firmly reject this improbable call for ease and irresponsibility.

So of course, this act of resistance is, in fact, only an imperfect impact report, produced by a tiny French company operating in a niche sector. However, it has the merit of showing that women and men refuse to compromise our future for the benefit of outdated visions and to the detriment of the general interest. And without the slightest doubt, hundreds of thousands of people share this point of view.

In this second edition, you will find developments that illustrate our desire to continuously improve this exercise, including figures relating to our carbon footprint and the progress we need to make on this issue. You will also, and above all, see the total determination of those who make up our team and who, every day, work at their level towards the advent of a fairer and more livable world.

It is not a utopia, nor a simple possibility, but a choice that falls to all of us.

Why this impact report?

Through this second impact report, we are continuing our commitment to more responsible finance by providing a new overview of the implementation of our CSR strategy.

The objectives:

• highlight concrete actions carried out in 2024;
• highlight good practices;
• measure progress made in relation to our ambitions.

True to our desire for transparency and consistency, we have chosen to maintain our analytical framework based on the Sustainable Development Goals (SDGs), adopted in 2015 by the United Nations.

These 17 goals and their 169 targets, included in the 2030 Agenda, constitute a universal framework for addressing the major economic, social, and environmental challenges of our century. They offer a roadmap shared by governments, businesses, civil society, and citizens to build a fairer future that respects planetary boundaries.

The SDGs remind us of the urgent need for a profound transformation: of public policies, economic models, but also of individual behaviors. They invite us to rethink our ways of producing, investing, and acting, by reconciling economic development, social progress, and the preservation of natural resources.

By joining this dynamic, we affirm our desire to actively contribute to an ecological and inclusive transition, through our core business: mobilizing citizen savings to serve the energy transition.

Our flagship projects

Bissap

Financing the ecological transition while preserving local jobs is possible on Enerfip. The objective of the Bissap project (led by the company Hummingbirds) is to distribute improved wood-burning cookstoves to rural populations in Benin (Africa), replacing the three-stone stoves traditionally used. Since access to modern equipment is sometimes complicated, these stoves allow populations to cook in a safer and less polluting way. These cookstoves are distributed free of charge in the most rural departments of Benin and allow the issuance of high-quality carbon credits, certified by Gold Standard. Beyond its environmental impact through the reduction of wood consumption and pollution generated by traditional methods, this project promises a strong social impact.

BioDiv-Wind

Monitoring and preventing the risk of collisions between flying animals (birds and bats) and wind turbines have become major issues for renewable energy producers. The energy transition must not involve the deterioration of our ecosystems. To meet this need, BioDiv-Wind has developed a solution called "SafeWind," allowing wind farm operators to detect the intrusion of flying animals using a video analysis device, which, in real time, prevents the risk of collisions with wind turbines. The technology makes it possible to either control wind turbines and stop them if necessary, or to send a suitable sound signal to redirect the specimens in another direction. Since 2015, BioDiv-Wind has equipped more than 600 wind turbines worldwide and conducted bird activity studies in numerous countries (Finland, Iceland, Brazil, etc.). Enerfip's investors are contributing to the company's expansion and enabling it to raise €3 million in 8.5% interest-bearing bonds.

Ecair

“In France, construction is the second largest greenhouse gas emitting sector. It alone accounts for 27% of CO2 emissions and nearly 45% of final energy consumption. The construction sector therefore has a central role to play in achieving carbon neutrality by 2050.”

ECAIR is positioned in the energy renovation sector, a key pillar in the ecological transition in France. ANAH's MaPrimeRénov' scheme allows individuals to finance up to 90% of their energy renovation work. However, construction companies carrying out this work often face a gap between the completion of projects and the payment of aid (3-4 months), which creates a temporary cash flow need. To meet this need, ECAIR offers to advance the aid amounts to construction companies once the work has been completed and certified by an approved MaPrimeRénov' Supporter, which allows companies to ensure business continuity and increase the number of projects that can be completed. Through Enerfip, the company raised €3 million in 35 minutes. Investors subscribe to simple bonds, at a rate of 9% over a period of 24 months. The operation has financed 300 energy renovation projects in France.

THE CARBON CALCULATOR

True to our commitments, in 2024, we will continue to assess the impact of our projects using the tool we have developed. To make the impact of investments concrete, each Enerfip investor has a dedicated tab called “My Impact” directly accessible from their personal interface.

This space allows each investor to view, in real time and in a personalized manner:

• the renewable electricity production generated each year, calculated in proportion to their investment in the financed projects;
• the CO₂ emissions avoided, also estimated based on their level of participation.

Thanks to this tool, each investor can become fully aware of the environmental impact of their financial choices and measure, in just a few clicks, their contribution to the energy transition. All renewable energy projects financed by Enerfip generate greenhouse gas emissions. As scientists regularly point out, “There is no such thing as free energy,” and renewable energy is no exception. However, to illustrate the concrete impact of money invested with Enerfip, we compared €1,000 invested on our platform with those placed in a traditional bank. According to Oxfam, investing €1,000 in a traditional bank results in the emission of 495 kg of CO₂e per year. In contrast, with Enerfip, that same €1,000 generates only 43 kg of CO₂e. Thus, the money invested in Enerfip emits on average 10 times less CO₂e than in a traditional bank.

European expansion

Spain remains a key driver of the group's growth, representing 20% ​​of the projects financed. In Italy, we have just obtained a new approval that will allow us to finance projects in the form of debt, thus opening up new development prospects.

Our ambition: to create bridges between France and European countries where the financing needs for the energy transition are particularly high.

Our priority targets are: the Iberian Peninsula, where the growth dynamics of renewable energies are spectacular; on the side of the transalpine republic, where the challenge is significant: rapidly reducing the still too high share of fossil fuels, particularly gas, in the national energy mix.

Our CSR strategy

In 2024, the Enerfip Group's CSR (corporate social responsibility) commitment will enter a new phase: more structured, more ambitious, and now supported by dedicated human and financial resources. CSR is becoming a strategic priority, integrated into the heart of our businesses and our decisions, so that everyone, whatever their role, can contribute to a positive impact on people and the environment. This approach is a continuation of work undertaken more than two years ago with the creation of a CSR committee. This discussion group, which meets every month, allows an important reality to emerge: many initiatives already existed, spontaneously carried out by employees, but often remained invisible or isolated. It therefore seemed essential to structure and promote these actions, by including them in a clear roadmap, based on:

• the development and monitoring of existing initiatives;
• the definition of concrete and measurable objectives;
• regular and transparent communication of our actions.