Hy24 Foundation

Our manifesto

Supporting the development of clean, renewable energy sources and alternative energy vectors, such as low-carbon hydrogen, and combating fuel poverty are critical challenges for our society. At Hy24, we firmly believe these issues are integral to driving the energy transition for the benefit of all. Through our investments in sustainable assets, we are constructing the infrastructure necessary to create low-carbon economies and more resilient energy systems, both now and in the future. 

Our convictions shape our investment decisions and inspire us to support institutions, associations, academia, and research, ensuring these solutions are accessible to everyone. To reinforce our commitment, we have established a Fonds de Dotation under the aegis of the Fonds de Dotation Transatlantique, focusing our efforts on two key areas. 

Firstly, we aim to support households experiencing fuel poverty in France. To achieve this, we will support projects that enhance the energy efficiency of low-income housing and raise awareness and educate these households about energy issues and simple steps to reduce their energy consumption. Fuel poverty affects one in eight households in France, impacting over six million people, according to 2021 data from the French Observatoire de la Précarité Énergétique (ONPE). The ONPE defines fuel poverty as affecting those among the poorest 30% of the population who spend more than 8% of their budget on energy, particularly heating and lighting. Addressing access to economic resources and knowledge is crucial in reducing fuel poverty in France. 

Secondly, we will collaborate with academia and research institutions to contribute to education on low-carbon hydrogen, its derivatives, and the renewable resources needed for a just transition. We are committed to education because we believe in the diverse solutions required for a successful transition and the complementary nature of these solutions. 

Furthermore, we are committed to supporting initiatives led by our employees, whether they are social, charitable, or community-focused, as long as they align with the values we share with our team. This may involve providing time or material resources. 

With this Fund, we leverage our expertise and experience to fulfill our commitments. Through these efforts, Hy24 is committed to fostering a fairer society and a sustainable future for all. 

• Approximately 12 million people in France experience energy, health, and environmental poverty.
• Around 3.2 million households spend over 8% of their income on energy costs, representing 30% of the most financially vulnerable households.
• In 2023, over one million households faced power cuts or reductions due to unpaid bills, marking a historic first.

Energy insecurity affects households living in energy-inefficient homes, those experiencing excessive energy expenditure, and those who regularly feel cold in their homes, either due to voluntary restrictions related to their financial situation or due to their housing conditions.

The association Réseau Eco Habitat was founded in 2014 by Franck Billeau, then an employee of Secours Catholique, based on the following observation: 900,000 owner-occupiers are surviving in homes with severe energy insecurity because they are unable to access the programs that could help them carry out energy renovation work.

The state of the housing stock in France has environmental consequences; it emits 58 million tons of carbon dioxide, accounting for 12% of national emissions. In France, 4.8 million homes are considered 'energy sieves' (rated F and G) and represent 17% of the country’s real estate. Facilitating and accelerating the energy renovation of housing is one of France's priorities to achieve its 2050 carbon neutrality goals and, consequently, to impact global warming.

Over the years, Réseau Eco Habitat has been able to implement a pragmatic solution that promotes social justice and environmental protection by fostering new forms of cooperation based on 'trust' between public authorities, companies, and local associations.