Banca March promotes clean-up of plastic pollution in underwater ecosystems
22 December 2021 Category: Sustainability
Mediterranean Fund is a thematic fund managed by March A.M. which invests in two high-potential trends linked to the UN Sustainable Development Goals for 2030.
- Thanks to the donations made by Mediterranean Fund, the March A.M. thematic fund investing in the water economy, the NGO Oceana has rolled out a study on the plastic footprint in coastal areas of Mallorca and Valencia following the summer season.
- The study revealed the presence of plastic pollution at a dozen biodiversity-rich areas featuring a range of habitats, such as corals, sandy sea beds and kelp forests.
- In the first 10 months of this year, Mediterranean Fund has gained 26.52%, and has chalked up returns since its launch in September 2019 of almost 50%.
Banca March strengthens its commitment to sustainability by supporting plastic pollution clean-ups in underwater ecosystems. Through Mediterranean Fund, managed by the Banca March Group's fund manager, March Asset Management (AM), a study by the NGO Oceana has been financed entitled Off-season: the plastic footprint of tourism, which analyses the presence of plastic residue in coastal areas of Mallorca and Valencia after the summer season.
Mediterranean Fund is a thematic fund managed by March A.M. which invests in two high-potential trends linked to the UN Sustainable Development Goals for 2030: the oceans as a source of wealth and the need for their conservation, and water as a scarce resource which is indispensable for life on our planet.
The fund offers a potential investment universe of over 750 companies and has attracted strong subscriptions since its launch. The fund had assets under management of €132.8 million at the end of October and returned 26.52% in 2021. Since its launch in September 2019, it has posted a return of 49.75%.
The fund currently invests in 48 companies in across more than 20 sectors and 15 countries, with a weighting of around 2% in each. Among others, it finances companies in the areas of off-shore wind power, marine biotechnology, aquaculture and fish farming, as well as companies related to biofuels for the decarbonisation of maritime transport.
Positive environmental impact
March A.M. donates 10% of the management fees generated by Mediterranean Fund to non-profit organisations which undertake projects to conserve marine ecosystems. To date, the total amount donated to NGOs stands at over €185,000, including approximately €74,000 in the first half of 2021.
Oceana is one of the non-profit organisations which have benefited from March A.M.'s donations to date. Oceana works to protect and restore the world's seas and oceans through a broad range of initiatives aimed at promoting clean energy, creating marine protected areas and recovering fish stocks, among others.
The study to gauge the plastic footprint after the summer season used a submarine drone and an exploration catamaran with collaborating divers, and Oceana's experts identified these residues in all of the underwater ecosystems analysed. In total, a dozen biodiverse locations were studied, featuring different types of habitat, including corals, sandy sea beds and kelp forests. The study also filmed the presence of various species in plastic-contaminated areas, highlighting the risk that plastic particles could be ingested by the local fauna or infiltrate their ecosystems, or that they could become entangled in this waste. In light of the findings, Oceana has urged the Spanish government and Parliament to implement measures to reduce the production of products which impact marine life, especially single-use plastics, and to improve deposit return systems for drinks containers.
Mediterranean Fund manager Iñigo Colomo said: “This initiative is a step forward in our commitment to generating an increasingly positive impact on the environment and society. The socially-responsible component of Mediterranean Fund - the donation of 10% of the management fee to environmental initiatives - allows us to contribute to marine ecosystem recovery projects and help protect the flora and fauna of the Mediterranean Sea."