UBS, Blue Finance Partner for PH Marine Conservation
UBS, through its grant-issuing foundation, has formed a partnership with social enterprise Blue Finance to launch a marine-focused impact performance initiative in the Philippines.
The UBS Optimus Foundation will invest $600,000 to empower multiple marine protected area (MPA) networks as part of the collaboration.
The allocated funds will support the implementation of revenue-generating initiatives in the blue economy while simultaneously focusing on the preservation and regeneration of coral reefs, marine biodiversity enhancement, and livelihood improvement.
The partnership showcases the financial viability of a self-sustaining conservation model and emphasises the impact potential of Blue Finance's approach.
Maya Ziswiler, CEO of the Optimus Foundation, expressed enthusiasm for the collaboration, stating, "We are thrilled to partner with Blue Finance on our first investment focusing on marine ecosystems."
She added that the impact loan provided to MPA projects in the Philippines demonstrates the financial feasibility of a conservation model that can sustain itself while also highlighting the positive influence of Blue Finance's approach.
Nicolas Pascal, the executive director and co-founder of Blue Finance, explained how the funding will help the Blue Alliance, a non-governmental organisation that Blue Finance helped found, improve the management and preservation of coral reef ecosystems.
Additionally, it will aid in developing sustainable revenue mechanisms for the Philippine MPA network. UBS emphasised that this initiative will contribute to several United Nations Sustainable Development Goals.
Pascal further emphasised the transformative nature of this approach, stating, "This innovative approach is transformative for MPAs and is setting a precedent for impact investment in marine conservation and economic development globally."
With over 60 per cent of coral reefs facing immediate threats worldwide, Pascal believes that MPAs are among the most effective tools available to protect marine biodiversity.
The Blue Alliance, established in 2020 with support from the United Nations, the Global Fund for Coral Reefs, and the International Union for Conservation of Nature, manages the MPA network and related projects in collaboration with local authorities in North Oriental Mindoro.
UBS outlined that the loan will be repaid through revenue generated by nature-based ecotourism, blue carbon credits from mangrove conservation, and small-scale aquaculture projects. The interest rate will be linked to social and environmental performance, reflecting the commitment to sustainable practices and positive impact.
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Source: The Manila Times
