Photo (taken before Covid): HSH the Prince surrounded by Prof. Nils Christian Stenseth, Prof. Le Maho, Prof. Denis Allemand (Scientific Director of the CSM) and Dr. Céline Le Bohec (CSM) Credit: Gaëtan Luci / Prince’s Palace
Monaco has just upped the ante in the fight against global warming, with Prince Albert raising the Principality’s target of reducing greenhouse gas emissions to 55% come the year 2030.
On the 5th anniversary of the Paris Climate Agreement on 12th December, Prince Albert took part in the Climate Ambition Summit, a virtual event jointly organised by the United Kingdom, France and the General Secretariat of the United Nations, with the support of Chile and Italy.
The summit served as an opportunity to maintain a high level of climate ambition ahead of the C.O.P. 26 in Glasgow in November 2021, which has been postponed for a year due to the Covid-19 pandemic.
It brought together more than 70 heads of state and government officials to present their national commitments in the fight against climate change.
Only countries announcing real increases in their national strategies were able to take the floor. Prince Albert of Monaco therefore took the opportunity to unveil his new objective of reducing greenhouse gas emissions in Monaco to 55% by 2030, compared to 1990 levels. This new ambition replaces the initial aim of a 50% reduction over the same period, set in 2015.
The Prince also confirmed Monaco’s commitment to become carbon neutral by 2050 and to maintain a high level of international funding to help strengthen the adaptation and mitigation capacities of countries most vulnerable to climate change.
Photo taken from Prince Albert’s speech during the Climate Ambition Summit
Faced with a 63% “free fall” in accommodation revenue, Monaco’s Tourism and Congress Department plans to reconquer the market by “rethinking the model” and place sustainability at the heart of its global strategy.
Monaco’s Department of Tourism and Congress (DTC) held its annual meeting on 14th December, with assessment, strategy and responsible tourism on the agenda.
Due to the health situation, representatives of the international offices were not physically present for the meetings, but were able to join in via the Grimaldi Forum’s new digital platform.
Only the opening presentation, ‘Assessment and Strategy’ mixed face-to-face and distance participation at the Grimaldi Forum.
In the presence of Minister of Finance and the Economy Jean Castellini and Ambassador to China Marie-Pascale Boisson, Director of Tourism and Congress Guy Antognelli revealed a detailed assessment of the consequences of the pandemic on Monaco as a destination and outlined the strategies put in place for the year 2021.
“With Covid-19, the global tourism industry has been impacted well beyond what was felt during the last two major crises, in 2001-2002 following the World Trade Centre attacks and in 2009 following the financial crisis,” said Guy Antognelli.
He revealed that at the end of November 2020, hotel room occupancy figures for the year were down 59%, room prices were down 10.5%, and revenue per room was “in free fall of 63%”.
Before laying out the strategy for the coming years, the DTC director commended the work of the tourism and congress department teams, both in Monaco and abroad, and all professionals in Monaco’s tourism industry, “who were keen to constantly adapt, preserving the destination’s positioning and seizing the opportunities created by the crisis while looking ahead to recovery.”
That recovery, he said, involves various strategic initiatives and phases to “reconquer the market”, the reconstruction of which “requires a rethinking of the model”.
So, when will Monaco return to pre-crisis levels? “The International Air Transport Association estimates that by 2025, or 2027 at worst, air capacity will be re-established, which represents 75% of our customers,” said Mr Antogenelli.
While the future remains uncertain in this regard, there is one thing that is certain for the DTC. Any long-term recovery strategy must be rooted in social and environmental responsibility.
The basis of this strategy will be a White Paper, which will be created by the DTC in cooperation with the Energy Transition Mission, the Environment Department, various tourism partners of the Principality, and François Tourism Consultants who specialises in sustainable development.
The paper will highlight responsible tourism in commercial development strategies “to participate, directly or indirectly, in all the sustainable development objectives set by the UN (…) [and] to better respond to the demands of a sensitive and demanding clientele on this theme.”
Photo credit: MEB / Carte Blanche
One Drop and the Prince Albert II of Monaco Foundation can add over €1.7 million to their charity coffers after a wildly successful watch auction in New York City fetched astounding prices for some pretty special timepieces.
The Phillip’s flagship Racing Pulse Auction, held on Saturday 12th December in New York City, fetched an eye-watering $27,584,570 (€22,606,244.73) in total sales including a Tag Heuer Monaco watch once owned by Steve McQueen that went for $2.2 million (€1.8 million) and a Rolex Big Red Daytona watch that belonged to Paul Newman for $5.5 million (€4.5 million), the third highest price ever paid for a Rolex at auction.
Of this staggering amount, over $2.1 million (€1.72 million) was earmarked for the One Drop Foundation and the Prince Albert II of Monaco Foundation through a collaboration called the Time Counts initiative.
The funds will be used to bring positive change to both Foundations’ efforts in the water and sanitation sector and work towards improving climate resilience for some of the world’s most vulnerable communities.
“The impact of Covid-19 on the population of the emerging and developing countries will have deep and durable consequences,” said Guy Laliberté, Founder of Cirque du Soleil, One Drop and Lune Rouge. “That’s why we called this joint initiative Time Counts. We have to act now and raise money for this critical cause and show that we care, and we won’t accept any setback for the most vulnerable communities in the world.”
The Time Counts auction featured some splendid timepieces. There was an IWC Big Pilot watch donated by racing legend David Coulthard, Shark Tank star and entrepreneur Kevin O’Leary offered a Rolex Daytona with a cheerful red strap, and a Jaeger-LaCoultre gold watch was given by rock god Bono, along with a signed letter, and a drawn copy of the lyrics to the U-2 hit ‘The First Time’. Bono originally gifted this particular watch to his father.
Other star lots included a highly coveted Audemars Piguet Royal Oak Jumbo in stainless steel with the Prince’s name engraved on its caseback offered by the Prince Albert II of Monaco Foundation and two timepieces donated by Prince Albert II of Monaco.
Photo: Bono’s Jaeger-LaCoultre gold watch, source Time Counts catalogue
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