At the Blue Economy & Finance Forum (BEFF), held alongside the UNOC * in Nice, CFM Indosuez Wealth Management reaffirmed its commitment to the blue economy. As a partner of the event, the bank is highlighting the concrete actions it is taking to provide sustainable financing for oceans and coastal areas. Its CEO, Mathieu Ferragut, explains why finance can – and must – play a leading role in preserving this ecosystem.
Why did you choose to partner with the BEFF?
We wanted to be part of this event because it is fully in line with our long-term commitment to sustainable finance. CFM Indosuez is a subsidiary of Indosuez and the Crédit Agricole Group, and our participation in BEFF is part of a collective approach, supported both locally and by several entities within the group: our parent company Indosuez, the investment bank Crédit Agricole CIB (Corporate Investment Bank), and Crédit Agricole SA.
This partnership reflects our desire to strengthen our position on issues related to the blue economy, a major component of Crédit Agricole's societal project. The joint organization of the BEFF and UNOC in Nice is a strategic opportunity for us to become more involved in discussions on ocean sustainability.
What is the history of your commitment to the blue economy?
Our commitment began in early 2020 with the signing of a partnership with the Oceanographic Institute. The aim was to work together to consider how a financial institution can channel capital into the blue economy. The blue economy remains complex to define and measure, but it encompasses the entire ecosystem of the seas, oceans and coastal areas, with a focus on sustainable growth.
Unlike the traditional economy, which is often based on extraction, the blue economy aims to strike a balance between development and resource preservation. It is this philosophy that echoes our societal commitments.
Which sectors are covered by the blue economy?
They are many and varied. They include fishing and aquaculture, marine biotechnology (used in particular in cosmetics and medicine), maritime transport, which is undergoing major changes in response to decarbonization challenges, coastal tourism, and the protection and regeneration of marine environments, including coral reefs.
In recent years, our priority has been to understand how to channel financing to these sectors, mobilizing both our expertise and our clients.
In concrete terms, how are you supporting this economy?
Our action is based on several pillars:
- Mobilizing our investor clients by offering them the opportunity to directly support projects or get involved through innovative mechanisms. This involves, for example, establishing direct contacts or organizing dedicated events to support start-ups involved in the blue economy.
- Offering responsible investment solutions. We offer two dedicated funds:
- CPR Invest Blue Economy, which is 100% invested in companies in the sector;
- CFM Environnement Développement Durable, a fund launched over 20 years ago, with 25% of its portfolio allocated to players in the blue economy.
- Supporting infrastructure projects such as Monaco's thalasso-thermal loop, which uses seawater to produce heating and air conditioning. We participated in its long-term financing, which has been classified as “blue.”
- Encouraging innovation through the Monaco Ocean Protection Challenge. Each year, we support the winning start-up: this year, it is Izalgue, which we are supporting in our incubator Le Village by CA. Our StartUp Connections by Indosuez Wealth Management platform also connects our investor clients with start-ups, including those focused on the blue economy.
How can we avoid “blue washing”?
That's a real question. To answer it, we rely on the expertise of our partners, such as the Oceanographic Institute and the experts at the Monaco Ocean Protection Challenge. They are the ones who evaluate and pre-select the projects. At the same time, players in the blue economy are working together to define a regulatory framework, and certain initiatives are emerging, such as the project to establish biodiversity credits specific to the marine environment.
Are the start-ups you support local?
They are mainly from western France, where the maritime economy is very important. That said, we are starting to strengthen ties with Monaco, particularly through our incubator and the StartUp Connections platform, which facilitates access for young companies to our investor clients and regularly liaises with Monaco Tech.
What investment model do you offer your clients?
We offer two schemes:
- Structured investment products, where clients agree to donate 0.3% of their returns to a blue economy player, and the bank matches this to reach a total contribution of 1% of the nominal amount invested. These funds are generally earmarked for specific projects, as has already been the case with projects run by the Oceanographic Institute and the Scientific Centre of Monaco.
- In mutual funds, such as the CFM Environment Sustainable Development fund, CFM Indosuez donates $30,000 per year from its management fees, at no cost to the client.
Are the products accessible to a wide audience?
Absolutely. Mutual funds allow for modest subscriptions, so all of our non-high net worth clients can invest in these themes. It is necessary to democratize sustainable investment, and in particular the blue economy.
How interested are your clients?
In Monaco, the blue economy resonates particularly well. The geographical proximity and involvement of H.S.H. Prince Albert II and the public authorities all contribute to this. That said, on a European or global scale, interest in this ecosystem remains marginal, but very attractive.
Younger generations are very sensitive to sustainability issues. Their approach to investing often incorporates non-financial criteria. We need to offer them clear, accessible solutions that, above all, have a real impact.
What will be your role at the BEFF?
We will play an active partner role. We will support certain clients to raise awareness, listen to experts, and connect project leaders with investors. A representative from our investment bank, Crédit Agricole CIB, will also speak on the topic: “Financing a regenerative and sustainable Blue Economy: Fuelling innovation and the blue transition through private investment.”
The key thing for us is to continue building a committed, coherent and credible financial ecosystem that serves to protect the oceans.
- UNOC: United Nations Ocean Conference
