| Invested through |
|
|---|---|
| Asset Classes | Impact bonds |
| Impact strategy | Impact Equities and Bonds |
| ISIN code | FR0014005SE7, FR0013457058 |
| Industry group | Real estate |
| Aligned with SDGs |
Action Logement Services (ALS) is the financial arm of the Action Logement Group (ALG), which is an association managed by representatives of employers and employees and is tasked with providing affordable and intermediate housing to workers in France. The entity is owned by the French government and its purpose is to provide financing in the housing sector, in particular the housing of employees, in order to promote employment and contribute to economic dynamics throughout France.
ALS is also responsible for providing loans and grants to individuals and social housing providers. It is the largest owner of social and intermediate housing in France with around 1 million dwellings.
Investment rationale
A sufficient supply of affordable and intermediate housing for people of modest or disadvantaged means is key for social diversity in a neighborhood and to stimulate an inclusive society.
Social bond FR0014005SE7 finances social and intermediate housing operations that meet social and green criteria. For example, developing social housing projects, the adaptation of housing for the needs of ageing residents, restructuring of business offices into social housing, energy renovation works in existing housing.
In total, 78.0% of this bond's proceeds is allocated to the Wellbeing transition, 17.8% of proceeds is allocated to the Societal transition and 4.3% of proceeds is allocated to the Resource transition.
In total, 37.8% of impact bond FR0013457058's proceeds is allocated to the Resource Transition, 35.0% of proceeds is allocated to the Societal Transition and 27.2% of proceeds is allocated to the Energy Transition.