Banca March and Reforest Project deliver thermal blankets to vulnerable people
10 febrero 2023 Categoría: Grupo March
- The initiative is the product of the agreement between March A.M. and Reforest Project under which the asset manager will donate part of the management fees from its socially responsible Mediterranean Fund to the NGO.
- The partnership with Reforest is focused around the Expedición Salva Mares project, which collects floating plastics and converts them into polyester fibre to make blankets for the homeless and vulnerable families.
- Mediterranean Fund is a themed, socially responsible fund managed by March A.M., which invests in two high-potential trends: the ocean economy and water. The fund donates 10% of its management fee to projects related to the conservation of marine ecosystems.
Banca March and Reforest Project deliver thermal blankets to homeless people and vulnerable families The blankets are made from polyester fibre obtained from floating plastics removed from the sea by Expedición Salva Mares between April and May last year. The blankets are being delivered as part of the Municipal Campaign Against the Cold, part of the Madrid City Council's Municipal Social Emergency Programme.
In line with its commitment to sustainability, Banca March supports plastic pollution clean-ups in the Mediterranean Sea. Under an agreement signed in 2022 with Reforest Project, March Asset Management (A.M.), the Banca March Group's asset management business, will donate part of the management fees from its socially responsible Mediterranean Fund to the Expedición Salva Mares initiative, which collects floating plastics and recycles them into polyester fibre which can be used to make waterproof thermal blankets for the homeless.
Mediterranean Fund manager Iñigo Colomo said: “Right from the outset, we have been inspired by the Reforest Project initiative. Marine conservation and social engagement tie in seamlessly with both the goals of the Mediterranean Fund and Banca March's overarching philosophy, which is underpinned by the pursuit of shared growth with customers, employees, shareholders and society as a whole."
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 currently invests in 48 companies in more than 20 different industrial sectors, diversified across 15 countries. Portfolio names include companies operating in off-shore wind power, marine biotechnology, aquaculture and biofuels for the decarbonisation of maritime transport.
Mediterranean Fund is an article 8 fund under the Sustainable Finance Disclosure Regulation (SFDR) and is eligible to be offered to customers with sustainability criteria. Within the Luxembourg-domiciled range (March International), Iberia, March Green Transition Bond and March Climate Solutions are also article 8 funds, underscoring the Banca March Group's unwavering commitment to sustainability and to protecting the planet.
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