Summary: Monaco’s contribution to the UN Ocean Conference

With oceans at the heart of Prince Albert’s mission in life, Monaco’s head of state led a delegation to the recent UN Conference on the Ocean. Here are the main outcomes of that important trip.

Prince Albert II led Monaco’s delegation at the 2nd United Nations Conference on the Ocean, held in Lisbon and co-hosted this year by Portugal and Kenya, on the theme ‘Oceans: scaling up action based on science and innovation for the implementation of Sustainable Development Goal number 14: assessment, partnerships and solutions’.

It was a major gathering of Heads of State and Governments, including Monaco, as well as the Secretary General of the United Nations.

The Second United Nations Conference on the Ocean, which ran from 27th June to 1st July, had many highlights, particularly from Prince Albert II, who took a very active part in the proceedings.

In his speech, the Prince encouraged nations to begin implementing concrete actions to combat the damage being inflicted upon the seas every day. He explained Monaco’s commitment on this front and the country’s active role in climate control negotiations, notably within the framework of the Intergovernmental Conference on Marine Biodiversity in Marine Zones.

Photo by Gaëtan Luci, Prince’s Palace

The Prince also underscored the importance of putting into effect projects quickly, whatever the scale or location. In this regard, he mentioned achievements such as the Medfund, launched in 2015 in collaboration with France and Tunisia, BeMed, which supports projects to combat plastic pollution in the Mediterranean, and the Monk Seal Alliance in favour of the preservation of this Mediterranean species.

Prince Albert also took part in a discussion on the management, protection, conservation and restoration of ecosystems. He spoke on the need to identify good practices, especially local ones, and to have a global vision by comparing the expertise and approaches. His example was of marine protected areas, which Monaco has one of, and how they offer a huge variety of opportunities for collaboration.

The Prince also took part in peripheral events on the polar regions, coral reef and innovative investment.

Meanwhile, Monaco’s Minister of External Relations and Cooperation Isabelle Berro-Amadei attended various events devoted to protecting 30% of the Ocean by 2030, organised by Blue Leaders. Included in these talks were the restoration of mangroves, organised by Colombia, the acidification of the oceans, organised by the Environment Laboratories of the A.I.E.A based in Monaco, and the United Nations Decade for Ocean Sciences for Sustainable Development, organised by U.N.E.S.C.O.

Additionally, the Ambassador of Monaco to the United Nations in New York, Isabelle Picco, attended an event devoted to marine pollution by plastic waste, organised by the I.U.C.N., as well as an event organised by Portugal, France and the European Union on the promotion of negotiations on the BBNJ Agreement.

As if this weren’t enough, Monegasque institutions were also present, including the Prince Albert II of Monaco Foundation and the Oceanographic Institute-Albert I Foundation.

The conference ended with the adoption of a political declaration entitled ‘Our ocean, our future, our responsibility’, which calls on all countries to contribute to the implementation of emergency measures related to seven specific targets, including protecting 30% or more of national maritime areas by 2030, achieving carbon neutrality by 2040, reducing plastic pollution, increasing the use of renewable energies and allocating substantial funds for ocean acidification research, climate resilience projects and monitoring, control and surveillance.

Monaco helped draft this declaration and references to plastic pollution, marine scientific research, ocean acidification and threats arising from human activities, regularly defended by the Principality during negotiations, were taken addressed and incorporated.

 

 

Photo by Photo by Gaëtan Luci, Prince’s Palace

 

 

 

Venturi team member completes epic commemorative adventure

A trekking mission across a remote Norwegian island, first completed by Prince Albert I, has been repeated over a century later by eco-explorer Xavier Chevrin, of Monaco-based Venturi, who was greeted at the end by Prince Albert II.

Strapped into a pair of cross-country skis, eco-explorer Xavier Chevrin took on the task of travelling more than 220 kilometres in the snow to retrace the steps of Prince Albert I on Spitsbergen, a Norwegian island roughly 900 kilometres from the North Pole.

Between 1898 and 1907, the great-grandfather and namesake of Prince Albert II mapped this distant isle from the sea, along the way naming the sites and features that he saw. Included in the list are Grimaldi Mountain, the Monaco Glacier, Prince Albert I Mountain and Princess Alice Mountain.

“We are honoured to have paid tribute to Prince Albert I through this exceptional adventure,” said Gildo Pastor. “Everything I do with Venturi, I do for my country, to raise the Monegasque flag high. I wanted to show Prince Albert II the esteem I have for Prince Albert I; for the work he has done in favour of sustainable development, a work that our Sovereign tirelessly pursues.”

Prince Albert and Gildo Pastor, photo by Eric Mathon/Prince’s Palace 

On Sunday 26th June at 11:30am, at the bottom of Princess Alice Mountain, Xavier Chevrin was welcomed by Prince Albert II. The Sovereign was accompanied by the President of Venturi, Gildo Pastor. The three men have much in common with “The Explorer Prince, Prince Albert I, including the defence of the environment, a passion for adventure and a knack for teamwork.

“I am proud to have worn the colours of Venturi and the Principality to pay tribute to the memory of Prince Albert I,” said Chevrin of his trek. “As a representative of Monaco, I achieved two world firsts linked to the Principality: with my guides, we climbed the ‘Kapp Guissez’ thus named in homage to Lieutenant Théodore Guissez, member of Albert’s crew, and we also set foot on the Albert I glacier.”

The time after the trek was spent swapping stories and experiences, notably Chevrin’s observation that less than a thousand kilometres from the North Pole there was a dramatic absence of coastal ice.

The trek and the participants were worthy of The Explorer Prince, and would have no doubt made him proud today.

 

 

Photo of Xavier Chevrin and Prince Albert II by Eric Mathon/Prince’s Palace 

 

 

 

 

Leading economist unravels today’s financial climate for MEB

The Monaco Economic Board welcomed renowned economist Ludovic Subran to speak about today’s geopolitical situation and the resulting economic and financial consequences.

“I warn you, it’s not a panty party!” The opening line set the tone for the evening as Chief Economist of Allianz began his speech in front of hundreds of gathered audience members of the Monaco Economic Board (MEB), using a touch of humour to broach a serious subject.

“We are a bit like cicadas, and in the autumn we will find ourselves very deprived because there will be no more savings and inflation will still be just as high,” he went on to say.

Taking complex geopolitical data and financial figures, Subran spoke on the topics in a clear and precise way, giving hope in the face of the current situation. In his mind, the war In Ukraine and the consequent rise in energy pricing, as well as the supply shortages experienced worldwide due to the pandemic, have already created a recession in such sectors as trade.

This recession, he said, will get worse before it gets better, with the end of the year being toughest. Though this is no doubt going to be the case, he does not believe the recession will be “of great magnitude”.

Additionally, he sees wage hikes to offset the effects of inflation to be “necessary in the vast majority of cases”. Subran also foresees many bankruptcies in the near future.

MEB conference with Ludovic Subran, photo courtesy MEB

On a more long-term level, Subran predicts many changes on the world scene, not least of which is the dollar being challenged by China and its ad hoc allies for power position, a widening of the gap between the developed and non-developed nations in terms of equality, climate change becoming a front-and-centre issue forcing those businesses who have not gone green to do so or die, and central banks looking for solutions to inflation that aren’t attributable to an overheated economy.

To meet these many challenges, the Chief Economist of Allianz recommends in particular greater “collaboration” in order to avoid “a situation where everyone would be a loser.”  

The evening, which was attended by Minister of Finance and Economy Jean Castellini, Delegate Interministerial for Attractiveness and Digital Transition Frédéric Genta, and Balthazar Seydoux, Chairman of the Finance and National Economy Commission at the National Council, ended with a rooftop cocktail party where Subran was available to speak in a more relaxed setting about specific questions put to him by the assembled guests.

Ludovic Subran is the Chief Economist of Allianz as well as Chief Economist of Allianz Trade. Prior to joining Allianz, he worked for the World Bank, the United Nations World Food Programme and the French Ministry of Finance. A French national, Subran is a member of the Council of Economic Advisors to the Prime Minister. He is a Young Global Leader of the World Economic Forum, a Millennium Fellow of the Atlantic Council and a David Rockefeller Fellow of the Trilateral Commission. He was ranked by Richtopia in the Top 100 of the most influential economists, and by the Choiseul Institute and Le Figaro in the Top 100 of French leaders of tomorrow.

A graduate of the National School of Statistics and Economic Administration and Sciences Po Paris, he is fluent in seven languages.

 

 

 

Photo courtesy MEB