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July 30, 2020updated 04 Aug 2020 9:47am

Lombard Odier partners with Plastic Bank to combat ocean plastic pollution

By Patrick Brusnahan

Lombard Odier has teamed up with Plastic Bank to lead a solution to help prevent ocean plastic pollution.

In addition, it is set to create long-term value for collector communities.

Lombard Odier will fund the collection of over 795 tons of ocean-bound plastic in Haiti. This is the same as over 39 million plastic bottles. As a result, up to 6,000 collectors and family members will be favourably impacted as a first step in a programme to create a positive difference in Haiti and Egypt.

Stéphane Monier, CIO at Lombard Odier Private Bank, said: “We are proud to partner with Plastic Bank, a fellow innovator in sustainability and a key player in the circular economy, as we seek to stop ocean plastic pollution and improve the lives of local collectors and their families.”

David Katz, founder and CEO at Plastic Bank, added: “We are excited to partner with Lombard Odier to help empower a regenerative society. By supporting the collection of plastic waste in underserved communities, they are pioneering new avenues for environmental and social impact in the global banking industry.”

This is the second project of this kind from Lombard Odier following the support given in 2019 to ReforestAction, which helped finance the planting of 20,000 trees in Tanzania and Peru.

In July 2020, Lombard Odier added a quant multi-asset fund to its PrivilEdge platform.

Dubbed PrivilEdge – Graham Quant Macro fund, the new vehicle is a liquid, long and short alternative strategy.

It spans global equity, fixed income as well as currency futures markets.

It aims to captivate different sources of returns across market cycles, leveraging four sub-strategies that depend on price and fundamental macro data.

Portfolio allocations are based on measures such as volatility and market correlations to manage risk.

The UCITS fund is managed by Graham Capital Management.

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