With climate and environmental challenges still very much on the agenda, certain local partnerships are bringing the worlds of finance and scientific research together. In Monaco, a joint initiative between BNP Paribas and the Monaco Scientific Centre (CSM) involving a structured product with an ESG component is a concrete example of sustainable investment with measurable benefits for the planet. To find out more, we met with Cédric Serret and Fabio Vitale, ESG advisors for BNP Paribas Monaco, Dr. Sylvie Tambutté, and Delphine Frappier, respectively Scientific Director and Administrative and Financial Director/Secretary General of the CSM.
How did the idea for this biodiversity-linked structured product come about?
Cédric Serret: BNP Paribas has long been committed to sustainable finance across the group. In Monaco, we wanted to go further by creating a product specifically linked to biodiversity protection. It is a structured product marketed locally to our clients, with part of the structuring fees donated to the CSM to finance a scientific research project on penguin conservation in Antarctica. It is both a high-performance investment tool and a lever for raising awareness, integrated into the non-financial reporting communicated to our clients.
Can you remind us what a structured product is and what makes this one unique?
Cédric Serret: A structured product is a financial asset based on an index, known as the “underlying”. The index used for this structure is aligned with the objectives of the Paris Agreement: the companies included in it are committed to carbon neutrality by 2050. This product is classified as “ESG” and is part of an educational approach. We are not only seeking to offer a return, but also to channel capital towards sustainable causes while informing investors about the real impact of their choices.
Which scientific project has benefited from these payments?
Sylvie Tambutté: It is a project to monitor penguins in Antarctica. We collect data on several species (Adélie, royal, and emperor penguins) using sensors, Argos beacons, drones, and small robots to understand the impact of climate change on their behavior, migration patterns, diet, and weight. The funding from BNP Paribas Monaco will enable us to develop new non-invasive tagging systems to track them individually. The aim is to collect long-term data and use it to define marine protected areas, alert decision-makers and model future climate scenarios.
Is this data used solely for scientific purposes?
Sylvie Tambutté: First and foremost, it is used for the practical conservation of species. It is then integrated into predictive models. For example, some monitoring began as early as 1998: with more than 25 years of data, we can project very accurate trends. This also allows us to identify warning signs for sentinel species such as penguins, whose survival depends on an extremely fragile balance. Our work only makes sense if it is shared, disseminated, understood, and used, particularly to contribute to environmental protection measures.
How does this type of collaboration work?
Delphine Frappier: The CSM is an independent public institution, 80% funded by the Monegasque government. But to strengthen certain areas, private funding is essential. This partnership with BNP Paribas Monaco is not traditional sponsorship: it allows us to consolidate existing programs, raise their profile, and anchor our research in a shared economic reality. People often think that finance and science are two separate worlds, but they are complementary, especially in a context where the ecosystem needs to be protected on a large scale.
You have also developed a series of conferences on natural capital?
Fabio Vitale: From the outset, we wanted to combine awareness-raising and action. The conference on natural capital, organized with the CSM and the Prince Albert II Foundation, aims to bring together different perspectives: researchers, scientists, entrepreneurs, international institutions, and financial players. The aim is to explain, raise awareness, and make the challenges of sustainability tangible, beyond mere discourse. The first edition took place two and a half years ago, and since then it has helped to create synergies within various networks promoting Monaco as a hub for ideas and concrete initiatives (IUCN, World Bank, etc.).
Cédric Serret: This type of conference is also a way of translating scientific models to make them understandable and applicable to economic realities. We have seen collaborations emerge with biotech start-ups, NGOs, and educational initiatives such as the Tara Ocean Foundation. It has also enabled clients to engage in a different way: we no longer talk solely about returns, but about impact commitment.
Is this project part of a broader strategy for BNP Paribas Monaco?
Fabio Vitale: Yes, definitely. This partnership illustrates our desire to take local action on global issues. We were recently named “Best Sustainable Bank in Monaco” at the Euromoney Awards. This award does not simply recognize a structured product, but a comprehensive approach: organizing conferences, supporting local research, and guiding investors toward more responsible choices. We are delighted to contribute to the Principality's international reputation.
Sylvie Tambutté: For the CSM, it is important to have a relationship with an institution that is committed to sustainability, a concept that is now at the heart of major international debates, particularly with regard to the oceans.
Cédric Serret: This partnership demonstrates that collective action can have a lasting impact. We often start with small initiatives, but they create real momentum on a larger scale. Awareness grows, actions take shape, and they become sustainable. That's also what sustainable finance is all about: not investing for the short term, but for the future. Hope in action!
