Created in January 2018, this Pact encourages the various stakeholders based in the Principality (such as institutions, businesses, residents and workers) to play an active role in the nation’s energy transition and to reduce their greenhouse gas emissions. Monaco has set itself the target of reducing its greenhouse gas emissions by 50% by 2030 (compared with 1990) and to become carbon-neutral by 2050.
The National Pact defines three key areas of intervention: transport, waste and energy. Members commit to putting an action plan in place in the year they sign, as well as to raise awareness about the goals of energy transition among their employees and service providers.
To become a signatory of this Pact, UBP Monaco implemented a number of improvements in terms of waste management and energy performance. These included switching to a renewable energy provider, rolling out LED lighting and recycling waste.
This undertaking represents just one of the steps that UBP has taken as part of its corporate social responsibility (CSR) policy. As a family-owned private bank, UBP places responsibility among its fundamental values, and sustainability and future generations at the very heart of its growth model. The UBP Group is convinced that the financial industry has an active role to play in dealing with global social, climate and environmental issues. This conviction is reflected not only in the range of responsible investment solutions that UBP offers but also in the efforts made by the Group to limit its environmental impact.
Sérène El Masri
Site Manager of UBP Monaco