Tax on superprofits, energy check… What does Raphaël Glucksmann’s 200 billion euro “ecological revolution” plan contain?

A 200 billion euro project. Raphaël Glucksmann announced a massive public investment plan over the five-year term to finance his “ecological revolution” project, the “first 100 days” of which he presented on Monday to initiate the “exit from fossil fuels”.

To achieve carbon neutrality in 2050 and the stabilization of the debt by 2032, the social-democratic left-wing presidential candidate wants to proclaim a “state of ecological emergency”, include the principle of an “ecological Republic” in the Constitution, and adopt “an ecological programming law”.

“The environment must become a front-line subject in presidential campaigns,” believes Anne Bringault, of the Climate Action Network (RAC).

“We know that the summer left its mark on the French, whether through the rise in the price of fossil fuels, unlivable housing at 35 degrees or fires. It goes beyond climate activists and guides campaigns,” she adds.

“Nothing that we are proposing can escape the forks of the question of financing,” explained Raphaël Glucksmann during a press conference in Paris, in the presence of Senator Yannick Jadot, responsible for implementing this “ecological revolution”, which plans to “more than double the production of renewable energy by 2035”, but also to “sustain nuclear energy”.

“An exceptional contribution” to the highest heritage

His investment plan will involve “an exceptional contribution” of 5% of assets of more than 100 million euros, to constitute “a fund whose vocation is to make our country habitable,” he explained.

This contribution is estimated at 50 billion euros, specified Yannick Jadot.

The rest of the plan will be financed by a European tax on oil and gas superprofits, a large European ecological loan, the end of tax exemptions on kerosene for domestic flights, an increase in the solidarity tax on plane tickets, and tax targeting of private jets and yachts.

Raphaël Glucksmann then hopes for “a ripple effect” with private investments, particularly in the production of renewable energies.

Its ecological program must be established “like a multi-year programming law”, similar “to what defense does”, explains the Place publique/PS candidate.

Lucile Schmid, president of the think tank La Fabrique Écologique, sees it as “an interesting new political space-time, which can raise ecology to the level of sovereign issues”.

“Knowing where we are going is essential, especially for manufacturers,” corroborates Anne Bringault, “we are finally going to stop having stops and goes.”

Social leasing and “exceptional energy check”

To improve purchasing power, Raphaël Glucksmann also plans “emergency measures” in the first 100 days, such as “social leasing for a million compact electric cars”, over 5 years, for 100 euros per month without contribution.

It also proposes “an exceptional energy check of 500 euros for 6 million families”, and “expanded to 200 euros for 10 million additional middle-class families”.

Other proposals: a “moratorium on electricity tax increases”, the sale at a social rate of a million heat pumps (for 1 euro per day), or the creation of a Sustainable Mobility Pass at 1 euro per day for those under 25.

“More resources to support households, that’s what we’ve been asking for for a long time,” rejoices Anne Bringault.

The same goes for the financing levers to which the plan responds in a “satisfactory” way, she adds.

All these measures correspond to “a 13th month of reduction in constrained spending”, assured Yannick Jadot.

A second part of this project, devoted to biodiversity, water, agriculture, pollution and health, will be presented in a few weeks.

Issues “insufficiently addressed for the moment”, regrets Lucile Schmid.