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Lombard Odier extends partnership with Plastic Bank® to fund educational programmes
Lombard Odier Group has today announced the extension of its partnership with Plastic Bank®, with a new solution designed to fund educational programmes in underdeveloped nations, while continuing to reduce ocean plastic. The new solution reflects the growing appetite amongst clients to invest in a way that can deliver real world impact, whilst also delivering financial returns.
The initial partnership with Plastic Bank, a social enterprise committed to stopping ocean plastic, was announced in July 2020 and saw Lombard Odier fund the collection of over 788.5 tons of ocean-bound plastic in Haiti and Egypt1. In this next phase, Lombard Odier will directly support children in collector communities with educational bursaries towards tuition and schooling materials, whilst continuing to create environmental, social and economic impact with Plastic Bank. In total, Lombard Odier will be able to provide bursaries to over 3,500 children, while preventing the equivalent of over 16.5 million single-use plastic bottles from entering the world’s oceans.
Stephane Monier, CIO of Lombard Odier’s private bank, commented; “At Lombard Odier we believe in the urgent need for a fundamental redesign of our economic model, which is currently unsustainable. We must evolve and transition to a more sustainable, regenerative alternative – a future based on a Circular, Lean, Inclusive and Clean model. Our partnership with Plastic Bank directly supports this aim, through minimizing waste and ocean pollution, as well as supporting the creation of a fair and secure society through increased access to education for all.”
David Katz, Founder and CEO at Plastic Bank, added; “Plastic Bank is empowering the regenerative economy by building ethical recycling ecosystems that stop ocean plastic while improving the lives of collectors. Our continued partnership with Lombard Odier represents an opportunity for financial institutions and their clients to invest in educational advancement in vulnerable communities and lasting impact on the environment for generations to come.”
1 Lombard Odier partners with Plastic Bank to reduce ocean plastic pollution
Important information
This media release has been prepared by Bank Lombard Odier & Co Ltd, a bank and securities dealer authorised and regulated by the Swiss Financial Market Supervisory Authority (FINMA) (hereinafter "Lombard Odier"). It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a document. This media release is provided for information purposes only. It does not constitute an offer or a recommendation to enter into a relationship with Lombard Odier, nor to subscribe to, purchase, sell or hold any security or financial instrument.
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