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Day: 5 August 2020

Further boost to Monaco's digital security

by: Cassandra Tanti
05/08/2020

Monaco Vidéo Electrique has just been awarded its security qualification, enabling it to assist the Principality in its digital security strategy.
Director of the Monaco Digital Security Agency (AMSN) Dominique Riban awarded Cristiano Toso, Director of Monaco Vidéo Electrique (MVE), the Information Systems Security Audit Service Provider (PASSI) diploma this week.
It marks the culmination of two years of work and makes MVE the fourth Monegasque company to receive the qualification, enabling it to participate in the Principality’s national strategy for digital security.
Companies holding this qualification can carry out audits of information systems with processes controlled by an independent authority, itself certified by COFRAC, making it possible to guarantee quality, impartiality and efficiency.
They can also provide assistance to companies to cope with cyber attacks and help build a safer digital world in the Principality.
The development further strengthens Monaco’s image in terms of cybersecurity and digital trust.
 
Photo: Dominique Riban and Cristiano Toso © Direction de la Communication / Stéphane Danna
 
 

Zero Emissions boat for YCM is under construction

by: Staff Writer
05/08/2020

The Yacht Club of Monaco says everything is on track for the building of its new Zero Emission Committee Boat, which was commissioned last year.
Despite the current crisis, and in the wake of the Monaco Solar and Energy Boat Challenge, the Yacht Club of Monaco is continuing its environmental innovation programme with the building of the clean energy vessel.
Naval architect Espen Oeino designed the hull for the vessel, which is currently under construction at the Chantier Bretagne Sud boatyard. It is being fitted with a hybrid electric-hydrogen system developed by EODev for propulsion and onboard energy requirements. The goal is to achieve zero emissions and no noise pollution.
“Drawing on their experience and successful installation of a fuel cell for the autonomous Energy Observer, EODev is more than prepared to take the YCM’s future committee boat into Phase 2,” said the YCM on its website.
The boat will complement to Club’s fleet, which was recently boosted by the arrival of three electric tenders. Built entirely of aluminium and therefore easy to recycle, it can switch between solar power and the hydrogen solution for propulsion. To add further value to the project, it is designed to be as quiet as possible so as to minimise the impact of noise on marine life.
“The new Committee Boat is part of the Yacht Club of Monaco’s ambitious holistic eco-responsible project,” said Bernard d’Alessandri, General Secretary Yacht Club of Monaco. “It is truly unique, with the aim being to design a bespoke vessel that meets complex specifications balancing stability, weight, safety, power and speed. If we want to position ourselves as one of the world capitals of yachting, we have to be a driving force for change and to offer concrete solutions.”
The boat will be 11.5 metres in length and is capable of carrying a maximum of 12 people. It will reach a max speed of 17 knots and has a range of three hours at 15 knots.
 
By Monaco Life and YCM
 
 

Monaco testing for ideal carbon-free buses

by: Stephanie Horsman
05/08/2020

Since October of last year, Monaco has been testing the suitability of several makes of electric buses in the country’s efforts to have a 100% sustainable fleet by 2030. Now they are launching a study aimed at determining the “optimum decarbonisation strategy” for the CAM bus fleet to be implemented over the next 10 years.

For nearly a year, the Compagnie des Autobus de Monaco (CAM) has been testing several electric buses of different sizes and brands. They travel on four lines of the network and have been acting as beta-testers for the future plans of the Principality’s public transportation system.

Over the coming weeks, experiments on the buses will take place to get a “complete experience feedback”, in terms of how the buses handle, maintenance issues, and passenger organisation. On-board surveys will be available to hear from the public their thoughts. 

© Michael Alesi / Communication Department

In line with the energy transition programme set out by the Prince’s government, CAM, in conjunction with the state service in charge of developing sustainable travel strategies and actions, the Department of Foresight, Urbanism and Mobility (DPUM), have searched the world to find buses they think will suit the specific challenges of the Monegasque landscape such as higher use of air conditioning in summer, narrow roads and low speed travel.

Séverine Canis-Froidefond, Director of the DPUM confirms this saying that, “The results obtained will highlight the operating conditions of electric buses in the Principality, in particular their energy consumption in view of Monegasque particularities, such as steep slopes.” 

The buses currently being tested are from manufacturers in Poland, Spain and China.

Data collected will make it possible to decide which of the buses is the best match, as well as determine whether to choose hydrogen or electric, and what charging stations will be needed for the 4 and 2 buses that run on six total lines around Monaco.

 
Photos: ©Michael Alesi / Communication Department
 
 

AS Monaco reveals heritage jersey

by: Stephanie Horsman
05/08/2020

AS Monaco has unveiled a third jersey for this season with a design that shows off some of Monaco’s most iconic monuments.

AS Monaco pays tribute to some of the most enduring images of the Principality in their latest jersey for the 2020-21 season. A white shirt with red lettering on the top lead downward to what looks like an elegant picture postcard of Monaco imbued on the bottom two-thirds. 

The Place du Casino, Sainte Dévote Church, the statue of François Grimaldi, Stade Louis II, the Place du Palais Princier and the Notre Dame Immaculée Cathedral are all shown as a collage in a subtle illustration adorning the jersey.

Designed by Kappa, the jerseys are being marketed on the Red and Whites website with the caption, “Play the Monaco Cards”. The jersey is coupled with matching shorts and socks to complete the look. 

The team has updated its uniforms this year and has already revealed a new jersey with a diagonal stripe originally championed by Princess Grace, as well as new away kit in navy and yellow also featuring the diagonal stripe.

 
 

Will the government use the CRF this Covid-year?

by: Stephanie Horsman
05/08/2020

The Constitutional Reserve Fund (CRF), Monaco’s “nest egg”, sat at a whopping €5.7 billion in assets at the end of last year. This year, it may be needed to help finance the budget deficit brought on by the recent health crisis.

The CRF has enjoyed a special status by Constitutional decree since 1962. As the Principality’s statistical agency, IMSEE, puts it, it is “an autonomous accounting entity with its own assets”.

The income comes directly from revenue surpluses over expenditures of the yearly budget, as well as from the management and sale of assets. Its expenditures include the excess of expenditure over revenue from the budget as well as the various expenses for its management or the purchase of goods.

Closely monitored by the government, the assets sat at €5.7 billion in 2019, up from €5.2 billion the previous year. The fund can be broken up into three parts: liquid reserves, non-liquid reserves and gold.

The gold reserve is €250 million of the total, the available part is €2.5 billion, and the non-liquid part is worth €2.9 billion. The cash is derived from bank cash reserves and securities from investments. This is at the disposal of the government to finance a budget deficit if necessary. The value of this money varies due to market changes but tends to only move slightly due to its careful management.

The non-liquid part is primarily in the form of real estate either in Monaco or in the neighbouring villages, excluding embassies. Most of these buildings are income-generators as they house various businesses and individual renters. This part also includes state holdings, of which 47.9% of SBM’s capital is part. Other smaller holdings include shares in SMEG, SMEAUX, Grimaldi Forum and the ports. 

The point of these funds is to be at the disposal of the state in times of crisis such as this year’s catastrophic mess. The state has yet to turn to the CRF’s gatekeepers to balance the inevitable budget deficit, but as part of the charter dictates that it is to make cash advances to the state budget when necessary, this request seems only to be a matter of time in coming.