UniCredit confirmed as global partner and banking partner of the Louis Vuitton 38th America's Cup
by America's Cup Media 2 Apr 06:02 PDT
September 17, 2024. UniCredit Youth America's Cup, Race Day 6 - Group B. Andoo Team Australia Youth Team © Ricardo Pinto / America's Cup
The America's Cup Partnership today welcomes UniCredit back onboard as both a Global Partner and Global Banking Partner for the Louis Vuitton 38th America's Cup.
Having sponsored the UniCredit Youth America's Cup in Barcelona, the pan-European bank that operates in multiple countries is now synonymous with the America's Cup with a long-term commitment to the success of the competition.
Furthermore, UniCredit will also be the Official Supporter of the Volunteer Programme. After the success of the programme at the Louis Vuitton 37th America's Cup in Barcelona where some 3000 volunteers gave their time to ensure the smooth running of the regatta and all related activities to the America's Cup, it is anticipated that the UniCredit Volunteer Programme in Naples in 2027 will be just as successful.
Andrea Orcel, Chief Executive Officer of UniCredit spoke about the partnership commitment between his company and the America's Cup saying: "The America's Cup is a competition with a unique history and prestige, and a true benchmark for excellence, teamwork and innovation. We are especially proud to play our part in bringing this event to Italy for the first time - a country that is the beating heart of our bank's progress and the future we are building. Once again, we are pleased to partner with an event that embodies our purpose and provides a platform to deliver meaningful, sustainable impact well beyond the competition. This is a historic first for Italy and an opportunity that we are committed to championing for the communities we serve."
Welcoming UniCredit and on behalf of the America's Cup Partnership, Grant Dalton, Chairman of the America's Cup Partnership Board, commented: "What is going to be key to the future of the America's Cup is working with great partners for the long-term and to build sustainable commercial futures together. In UniCredit we deeply value their long-term perspective as well as their shorter-term dynamism and it's a great ratification of the new America's Cup Partnership to have UniCredit come onboard for the Louis Vuitton 38th America's Cup in Naples. Their support in Barcelona, particularly with the Youth America's Cup was sensational and it's a relationship built on similar shared values, principles and ethics. We welcome UniCredit once again and very much look forward to working with them during the transformation of Naples - one of the truly great sailing venues in the world."
Shared values of innovation, sustainability, and inclusion lie at the heart of the continued commitment from UniCredit and, from the banking side UniCredit will provide a concrete framework in which financial expertise, execution capability and multi-stakeholder coordination are central to delivery.
The framework leading up to 2027 includes a series of initiatives requiring close coordination between public and private stakeholders at local and national level, alongside increasingly sophisticated financial, technical, and organisational requirements—areas in which execution reliability and long-term financial sustainability are critical. The partnership is consistent with UniCredit's solid operating performance and sustained growth in recent years, along with its ability to support complex projects across jurisdictions and sectors.
The America's Cup Partnership has committed to sustainability objectives for the Louis Vuitton 38th America's Cup, most readily viewable in the form of eChase and hydrogen-powered support vessels that were unveiled in the agreed Protocol that governs the 2027 event in Naples, and the continued development of clean fuel technologies is a high priority for all of the five teams so far confirmed.
UniCredit highlighted the 'underlining growing relevance of alternative energy solutions and sustainable finance within capital-intensive projects' - another key consideration when re-confirming the bank's commitment to the Louis Vuitton 38th America's Cup.