Banca March renews its agreement with the Reforest Project by incorporating the Salva Ríos Project
05 July 2024 Category: Agreements
- The NGO is once again among the beneficiaries of the sustainable Mediterranean Fund by March A.M., Banca March's asset management business, which donates 10% of the management fee to projects related to the conservation of the environment.
- Among the projects that Banca March and Reforest Project will carry out this year, the Salva Ríos Project stands out, which seeks to restore the ecological balance of the Jarama River.
- On previous occasions, the collaboration between the two entities has led to different initiatives such as the cleaning of plastics in the Mediterranean or the delivery of thermal blankets to vulnerable people and families.
Banca March has renewed its collaboration agreement with Reforest Project to carry out initiatives focused on caring for the environment. In this way, the NGO is once again a beneficiary of the sustainable Mediterranean Fund of March A.M., the entity's management company, which donates 10% of the management fee to projects related to environmental conservation.
On the occasion of this new collaboration, four new environmental actions have been established within the framework of the Salva Ríos project, which seeks to restore the ecological balance of the Jarama River. Specifically, work will be done to improve the aquifer and biodiversity of the Belvis del Jarama lagoons, a protected natural area and part of the Catalogue of Wetlands of the Community of Madrid and the National Inventory of Wetlands. Of the four scheduled actions (two to clean the river and two to replace invasive vegetation with native vegetation), the first has already been carried out, in which a group of volunteers collected 610 kilos of rubbish from the Jarama River.
This new project is one of several carried out by Banca March and Reforest Project, such as the clean-up of floating plastic waste in the Mediterranean through the Save the Seas Expedition in 2022. The rubbish collected was recycled into polyester yarn, which was used to produce thermal blankets that were donated the following winter to at-risk individuals and families as part of the Madrid City Council's Municipal Social Emergency Programme.
In the words of Sonia Colino, Director of the People, Brand and Sustainability Unit at Banca March: "Our commitment to the joint growth of customers, employees, shareholders and society at large drives us to undertake initiatives such as those with Reforest Project, which we are very proud of. Our objective is to contribute, through collaborative work, to the conservation of the biodiversity of different places of great natural value in our country, as well as to help raise awareness of the importance of the proper management of resources".
Mediterranean Fund, a sustainable, socially responsible investment fund
March International - Mediterranean Fund is a themed, global, sustainable, socially responsible equity investment fund (ART. 8 SFDR) by March A.M. which invests in two key sectors that are expected to outpace global economic growth: the ocean economy and water. This themed equity fund donates 10% of its management fee to projects related to these two areas. So far this year, Mediterranean Fund has accumulated a return of 4.98% (data at the end of June, class A €). The cumulative return since the launch of the fund is 43.30% (data at the end of June, class A €)..
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