CFM Indosuez Wealth Management joins forces with the Scientific Centre of Monaco to protect tropical corals
Monaco, 20 March 2023 - CFM Indosuez Wealth Management and its subsidiary CFM Indosuez Gestion have entered into a partnership agreement to support the conservation activities of the World Coral Conservatory (WCC), a collaborative programme between the Scientific Centre of Monaco (CSM - Centre Scientifique de Monaco) and the Oceanographic Institute.
"We are in a race against time to save coral reefs," says Dr Didier Zoccola, co-coordinator of the World Coral Conservatory and researcher at the Scientific Centre of Monaco, "In the global context of global warming, ocean acidification and anthropogenic pollution of all kinds, the IPCC, based on indisputable data, is predicting that coral reefs will disappear by the end of the century. The scientific community, through the organisation of an international network of aquariums and research institutes initiated in Monaco, is deploying in-depth action to safeguard these jewels of the ocean for future generations. The long-term commitment and essential support of partners such as CFM Indosuez are enabling the WCC to deploy its strategy to achieve this Noah’s Ark for coral."
The work of the WCC is organised around the collection, cultivation under controlled conditions and scientific study of almost a thousand species of coral. Each species is harvested according to a strict protocol and is divided into three different nurseries for safety reasons, to avoid its disappearance in the event of a technical problem. The corals are propagated by cuttings to enable them to be reintroduced into the natural environment under scientific supervision. At the same time, the results of programmed genomic studies (DNA, RNA) should form an international and open database. Among other things, it will enable studies to be carried out on the assisted development of corals, to help them better cope with climate change and changes in their environment.
Under the leadership of Dr Zoccola, and supported already by CFM Indosuez, Océanopolis and Explorations de Monaco, an initial WCC assignment was undertaken in October 2022 in the Indian Ocean to confirm the working method: 21 species were collected.
A new assignment is now scheduled to take place in the Philippines early next winter.
"Our company is committed to protecting the oceans through the responsible investments and financing it offers its clients, as well as by supporting key players such as the Oceanographic Institute and the Scientific Centre of Monaco and their high-impact projects," explains Mathieu Ferragut, CEO of CFM Indosuez. "This is why we support the World Coral Conservatory in preserving these vital coral reef ecosystems. Our subsidiary CFM Indosuez Gestion will make an annual donation of 30,000 euros to the CSM for the World Coral Conservatory. This amount corresponds to the management fees from our investment fund CFM Indosuez Environnement Développement Durable."
CFM Indosuez’s support is in line with the policy that has been pursued by the Principality of Monaco for several decades to protect corals, through the commitment of key stakeholders in the field of marine knowledge and protection ( Scientific Centre of Monaco, Explorations de Monaco, Prince Albert II of Monaco Foundation, the Monegasque Government, the Oceanographic Institute) and a recognised network of international specialists.
About CFM Indosuez Wealth Management
The Indosuez Wealth Management network is represented in Monaco by CFM Indosuez Wealth Management, the Principality’s leading bank. Its roots go back to 1922, the year it was founded by major Monegasque families, some of whom still hold nearly 30% of its capital.
With 5 branches throughout the country and the largest trading room in Monaco, its teams of nearly 400 highly specialised staff combine their knowledge of the Principality’s international environment with the vast expertise and scope for action of the international network of Indosuez Wealth Management and the Crédit Agricole Group. In addition to its core business of wealth management, CFM Indosuez Wealth Management serves all types of clients, whether they are private, institutional, corporate or professional investors.
CFM Indosuez is also the leading commercial bank in Monaco.
In 2022, CFM Indosuez Wealth Management celebrated its 100th anniversary and was voted the best bank in the Principality by the international magazine Global Finance for the sixth consecutive year. In 2023, CFM Indosuez received the Wealth Management Business Servicing The Principality of Monaco award from Wealth Briefing, the international specialist in business intelligence services for wealth management.
About the Centre Scientifique de Monaco
Dedicated to fundamental and applied scientific research, the work carried out by the teams at the Scientific Centre of Monaco is grouped into three departments. The primary concern of researchers in these departments is to study the basic functioning of organisms in order to better understand, and therefore better anticipate, the effects of environmental stresses (Conservation Physiology) or therapeutic treatments (Translational Biology). The close ties between researchers encourage rich exchanges that should lead to the emergence of new ideas across the boundaries of disciplines.
The juxtaposition of these different teams within the same establishment makes it possible to create promising and original interface programmes, using coral, for example, to help shed more light on the mysteries of ageing. The Centre has a broad international appeal, with more than 70 employees from 15 countries (including Europe, USA, Japan, Australia, New Zealand, Palau, Brazil, Caribbean, Canada, Oman, Saudi Arabia, etc.) who have come to work at the CSM since 2013, when it moved into its premises on Quai Antoine I in Monaco.