INTRODUCTION..2​​
 1- THE CONTEXT .. 2
 2- The law .. 2
 3- Content: the ecological dividend of MAIF and the societal dividend of Crédit Mutuel .. 2
 4.1- THE ECOLOGICAL DIVIDEND OF MAIF .. 3
 4.2- THE SOCIETAL DIVIDENCE OF CREDIT MUTUEL NORD .. 3
 5- Climate dividends .. 5
 5.1- A technical and normative starting point: avoided emissions . 5
 5.2- THE CONFUSION OF TERMS .. 6
 5.3- TECHNICAL DATA relating to avoided emissions . 7
 5.3.1- The notion of perimeter . 7
 5.3.2- AVOID ZERO CARBON EMISSIONS .. 10
 6- CLIMATE DIVIDENDS .. 10
 7- Climatic Value .. 13
 Corporate carbon value . 13
 A tool of public power: the tutelary carbon value 14