UBS foundation seeds youth programme to tackle climate issues in Hong Kong
UBS’s foundation has teamed up with a non-profit to help support young people in addressing pressing climate issues in Hong Kong.
UBS Optimus Foundation Hong Kong will be the seed funder of the ‘UBS x Melo Social Challenge’, a programme the bank jointly launched with Hong Kong-based non-profit Project Melo, according to a statement on Wednesday.
The programme takes the form of a pitching competition and aims to tackle pressing environmental issues facing Hong Kong.
The city saw particularly heavy flooding in September last year. Experts believe that global warming is causing more frequent and heavier rainfall. Meanwhile, the city just recorded its highest temperature for March in 140 years. The programme will shortlist teams of young people based on their applications. Shortlisted teams will get the chance to work directly with company chief executive officers and climate experts to devise innovative ideas, according to the statement.
“Their concepts will be presented in front of a live audience at the two-day impact summit on 21 – 22 June 2024, the “Melofest”, with the winning team receiving seed funding to make their proposed solution come to life, ” the bank said.
UBS Optimus Foundation is an independent foundation that offers UBS clients a platform to use their wealth to drive positive social and environmental change. Project Melo is a social enterprise that has reached over 700+ university students and 40+ CEOs. It aspires to establish a two-way mentorship network and foster collaborative impact projects.
It is the first social enterprise that UBS Optimus Foundation has partnered with in the region. Geng Ming, head of social impact and philanthropy at UBS for Greater China, said that this aligns with the bank’s aim of driving systemic and catalytic impact, especially for young people, locally and globally.
“The programme also strongly supports two of our thematic priority areas: empowering children and young people through education and secondly, combating climate change and protecting the environment,” she said.
In a recent interview with Asian Private Banker, Geng shared that UBS is looking to enhance its offering for the next generation in Asia by leveraging its global philanthropy community. UBS was honoured as the Best Private Bank — Philanthropy at APB‘s 2023 Awards for Distinction.
