The promotion and sponsorship of the arts, classical music and selected sporting events is a long-standing tradition amongst certain Swiss financial institutions. According to the corporate leadership of Julius Baer Group for instance, through their commitments, the bank aims to foster and support different talents, while sharing outstanding achievements, innovative approaches and thrilling events with the public at large. The most visible example of this is the ABB Formula E Championship, which Julius Baer has sponsored since its first race in 2014.
The ABB FIA Formula E Championship is the world’s first fully electric, city-street racing series. While it is designed to thrill and entertain like any other racing event, it also aims to educate and innovate, promoting sustainability. Formula E provides fertile ground for some of the world’s leading companies to develop and test green solutions for mobility, energy production and their wider applications. It represents a vision for the future of the motor industry, showcasing the potential of sustainable power and innovative technology.
The Julius Baer Group sustainability strategy is centered in enabling a shift in capital flows towards a more equitable future and healthier planet for the generations to come. To achieve this, the company focuses on two of the most critical global challenges in transitioning towards a sustainable economy: addressing the overuse of natural resources and addressing the underuse of human resources. By pursuing green energy solutions in engine constructions, the ABB FIA Formula E Championship aligns perfectly with the group’s vision for the future and, therefore, becomes an ideal candidate for sponsorship.
It is not unheard-of for banks to sponsor racing events. Credit Suisse, for instance, sponsors the Grand Prix de Monaco Historique, a celebration of cars from the 1930s through the 1970s that features seven race series. However, what stands out about the ABB FIA Formula E Championship is how is resonates with a broader sustainability approach.
It is a given that electric mobility is becoming a global trend. According to Lucas di Grassi, the sport’s most successful driver, autonomous electric vehicles will both reduce CO2 emissions and improve the quality of life in developing countries. He believes that “In developing countries like Brazil or India, the first autonomous vehicles you see will be buses because they take a well-defined route, with pre-determined stops,” he explains. “This will reduce the cost of transport, improve the service, make it safer and help to improve the quality of life for people.”
In fact, in India, Formula E engines are creating great impact. According to Dilbagh Gill, from Indian vehicle manufacturing giant Mahindra, insights gained from developing engines for Formula E are improving quality of life in India. He believes technological advances and the increasing acceptance of electrical vehicles will bring a huge increase in quality of life in the Asian country, which has some of the most polluted cities in the world. In sum, electric mobility and green energy are the future.