Prince Albert II Foundation signs partnership to accelerate climate action

The Foundation has decided to join forces with UBS Optimus Foundation Europe and UBS Monaco to help protect coastal and marine ecosystems in the Mediterranean.

On 30th September, in the presence of Prince Albert II, the Sovereign’s Foundation signed a partnership agreement with UBS Optimus Foundation Europe (UBS OF EU) and UBS Monaco, to ramp up actions in favour of climate mitigation and adaptation through the protection of coastal and marine ecosystems in the Mediterranean.

UBS OF EU, an organisation specialising in social financing, focuses on combating climate change by promoting sustainable land use and protecting coastal and marine ecosystems. UBS Monaco is one of the biggest wealth managers on the local market and aims to “rethink the power of investment and connect people for a better world”, by entering into partnerships with local impact and encouraging its clients and employees to do the same.

The partnership between the Prince’s Foundation and the two entities is therefore no coincidence. Its aim is to support projects that concern the restoration of coastal ecosystems and the development and financing of marine protected areas and no-fishing zones. Particular attention is to be paid to the protection of marine mammals and biodiversity conservation, but also to the involvement of coastal communities.

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The Pelagos Sanctuary

“Joining forces with UBS Optimus Foundation Europe and UBS Monaco, with whom we share the same vision of impactful philanthropy, is an honor for the Foundation. Accelerating collaboration and scaling-up solutions for a greater preservation of marine species and ecosystems is vital to tackle the issue of climate change. That is why this support is so meaningful for us in our mission to progress ocean and planetary health.” declared Olivier Wenden, Vice-President and CEO of the Prince Albert II of Monaco Foundation.

This cooperation will begin with the Pelagos initiative launched in 2021 by the Prince Albert II of Monaco Foundation along with its partners WWF, IUCN and Medpan, in order to support conservation projects in the Pelagos Sanctuary area, a marine territory of 87,500 km2 in the waters off Monaco, France and Italy.

The Prince’s Foundation and UBS OF EU have each pledged one million euros to support civil society-led projects to protect marine mammals in the Pelagos Sanctuary and promote the area. This conservation effort will also join the portfolio of sustainable projects offered by UBS OF EU to its clients. UBS Monaco will match 10% or more of the donations made by their clients or employees to the UBS Optimus Foundation in favour of the Pelagos initiative.

The Pelagos initiative aims to help in the conservation of marine mammals, to raise public awareness of the Sanctuary and its special features, and to raise funds and launch calls for proposals to help achieve the objectives of protecting and conserving the ecosystems and marine mammals within the Sanctuary.