Flavio Briatore’s Billionaire Club is coming to the Principality of Monaco for the very first time. It’s set to be one of the biggest nightlife hotspots of the summer.
Way back in 1998, Italian Formula One team owner and businessman Flavio Briatore came up with an idea to bring the international jet set together for a mega party in one glorious location: Porto Cervo in Sardinia.
The concept took off spectacularly and soon expanded to destinations all over the world. Now – finally – it’s Monaco’s turn to be included in the fun and a summer-full of Billionaire events have been organised at Sporting Monte-Carlo’s Salle des Etoiles.
From 31st July to 22nd August, a total of 19 exciting evenings have been planned that will feature international artists whose talents range from music to dancing to acrobatics, all accompanied by a delicious gourmet dinner.
There will be never-before-seen performances from the Tribertis duo of Carlo and Ursula, dancers on roller skates who perform at heights of over three meters, and on 14th August, there will be a special performance by Alessandro Ristori and The Portofinos.
Meals will be no less exceptional, with Billionaire’s Executive Chef Batuhan Piatti in charge of the Asian-Italian fusion feasts. Piatti has worked at top restaurants across the globe, including Raffles, Cipriani and Cova Monte-Carlo, and has participated in Master Chef in both Italy and Turkey as well as being author of several books.
To find out more or to reserve a table, visit the website by clicking here.
2023 marks an important year of celebrations in the Principality, including Monaco’s admission to the United Nations 30 years ago. This is how it all began.
On 28th May 28 1993, the Monegasque flag was hoisted for the first time in front of the United Nations Headquarters in New York. The Principality of Monaco had become the 183rd Member State to join the international organisation.
The candidacy was supported by Prince Rainier III, who said at the time: “This day will obviously remain an important date in the already long history of our country, because it is the certainty of its future”.
The ceremony for raising the flags of Monaco and Eritrea, which joined the organisation at the same time as the Principality, took place in the presence of the Secretary General of the United Nations at the time, Boutros Boutros-Ghali. Monaco was represented by its Minister of State Jacques Dupont, accompanied by his Chief of Staff Denis Ravera, and the Secretary General of the Ministry of State, Rainier Imperti.
Prince Albert II of Monaco addressing the general debate of the General Assembly’s 77th session in 2022. Photo credit: Via Park, UN
Prince Albert takes the lead at the UN
At the podium of the United Nations on 7th September 27 1993, Hereditary Prince Albert spoke for the very first time on behalf of the Principality of Monaco before all the Member States and organisations present at the 48th session of the General Assembly. Appointed Head of the Monegasque Delegation by his father, he has taken part in these international meetings on a regular basis for 30 years.
Created the same year, the Permanent Mission of Monaco has seen a succession of four Ambassadors and Permanent Representatives to the United Nations: Jacques Boisson from 1993 to 2003, Michel Borghini from 2003 to 2004, Gilles Noghes from 2004 to 2009 and Isabelle Picco since 2009.
Monaco’s United Nations missions
The Ambassador is currently assisted in their missions by four diplomats. Under the impetus of Prince Albert II of Monaco, the Permanent Mission of Monaco makes the voice of the Principality heard and defends global issues, foremost among which is sustainable development, in particular the protection of the oceans and the law of the sea, human rights, gender equality and women’s empowerment, and sport for development and peace. Monaco has been elected Vice-President of the General Assembly three times (54th, 68th and 75th session) and has also served on numerous United Nations bodies.
On 19th June 2023, to celebrate this important anniversary, the Permanent Mission of Monaco to the United Nations is organising a concert by the Orchestra of the Prince’s Carabinieri of Monaco in the heart of the emblematic hall of the General Assembly of the United Nations Headquarters in New York.
Monaco is also represented by Ambassadors to the UN Offices in Europe, in Geneva by Carole Lanteri and Vienna in by Lorenzo Ravano.
Main photo: Prince Rainier III in 1995 speaking at the 50th anniversary of the United Nations, credit: Greg Kinch. Written by Monaco Life with press release.
Sustainable Finance: EU Commission takes further steps to boost investment for a sustainable future
The European Commission has released new measures in the sustainable finance framework to make it easier for companies to meet their ESG commitments.
The European Commission (EC) has some lofty goals, not least of which is the pledge to transition to a climate-neutral and sustainable economy by the year 2050. Companies and investors all over Europe are following this trend, and many are already making solid moves toward a transition.
EASIER SAID THAN DONE
Whilst the will is there, the way has been a bit more complicated with investors and businesses finding it difficult to comply with the EU’s tough regulations, notably when it comes to compliance to disclosure and reporting requirements. In order to cut through the red tape and to make the path to transitioning clearer, they have made some changes.
Specifically, the Commission is “adding additional activities to the EU Taxonomy and proposing new rules for Environmental, Social and Governance (ESG) rating providers, which will increase transparency on the market for sustainable investments”.
The package’s goal is to see a sustainable finance framework that works for companies that want to invest in sustainability. It also aims to make the sustainable finance framework easier to use, so both sides can effectively contribute to the European Green Deal objectives.
WHAT’S NEW?
The EU Taxonomy, a system for companies to identify environmentally sustainable economic activities and investments, now has new criteria including sustainable use and protection of water and marine resources, transitions to a circular economy, pollution prevention and control, and protection and restoration of biodiversity and ecosystems.
They have also added amendments which expand on activities that lessen climate change and environmental impact, primarily in the manufacturing and transportation sectors, allowing for increased usability, with the idea this will lead to more investment.
Finally, it is cleaning up the ESG ratings system, which currently is less-than-transparent, by introducing new organisational principles and rules to prevent conflicts of interest. This, they hope, will increase the integrity of the ESG ratings providers.
The EC will be publishing an easy-to-understand EU Taxonomy User Guide as a tool for businesses and investors who have found the previously labyrinthine system unwieldly, laying out all the rules clearly to help make the transition to sustainability and environmentally-friendly methods of operation easier.
Taiwan’s Doris Hsu, Chairperson and CEO of GlobalWafers, has been named EY World Entrepreneur of the Year 2023 at the annual award ceremony in Monaco.
The annual EY World Entrepreneur of the Year event in Monaco is perhaps the biggest coming together of the world’s most innovative entrepreneurs.
Personalised images of the Class of 2023 have been proudly hung throughout the Principality and EY’s signature yellow box positioned strategically in Casino Square. The awards – led by one of the world’s Big Four accounting firms – is never a quiet affair.
Doris Hsu was selected winner from among nearly 5,000 programme participants that included 49 winners across 45 countries and jurisdictions competing for the global title. She is the third woman to hold the title and the first winner from Taiwan in the award’s 23-year history.
For more than a decade, she has been the driving force behind GlobalWafers’ meteoric rise, overseeing a series of successful M&As that transformed the company’s product portfolio and expanded operations into Europe. GlobalWafers’ is now the world’s third-largest wafer manufacturer.
Left to right: Andrew Fuh, EY Taiwan Managing Partner; Carmine Di Sibio, EY Global Chairman and CEO; WEOY 2023 winner Doris Hsu; Stasia Mitchell, EY Global Entrepreneurship Leader; Hernan Kazah, Managing Partner and Co-Founder of Kaszek Ventures. Photo source: WEOY Monaco / EY
“I am honoured to receive this prestigious distinction as EY World Entrepreneur Of The Year,” said Doris Hsu. “We as entrepreneurs often find ourselves on the front lines of addressing so many of today’s most pressing issues, from building towards a more sustainable future to ensuring social wellbeing in the areas of greatest need.
“I hope that I can continue the legacy of this great award by driving conversations about these challenges, helping to come up with big new ideas and bringing in new voices along the way. There is an underrepresentation of female leaders, especially in the high-tech [semiconductor] industry, and this shows that regardless of gender, anyone can succeed.”
Photo source: WEOY Monaco / EY
Awards to celebrate and support visionary leaders
EY hosts the annual World Entrepreneur of the Year event to celebrate the accomplishments of visionary leaders who are transforming industries, growing the economy and answering the call to address global challenges.
The annual gathering brings together founders, CEOs and business leaders for a series of networking opportunities and workshops, culminating with the winning announcement.
The judging panel, made up of esteemed independent entrepreneurs, make their decision based on four key criteria: entrepreneurial spirit, purpose, impact and growth. They were impressed by people who, for example, identified opportunities to innovate and create a better world, who create and protect value in the long term, and who positively impact the customers they serve.
Among the Class of 2023 competitors: Australia’s Jack Gance of Chemist Warehouse; Belgium’s Eric Olsen, CEO of Aliaxis: easy-to-install and innovative fluid management solutions; and Amanda Baldwin and Holly Thaggard from the United States for their product Supergoop, which challenges consumer myths about SPF and its perception as a seasonal product.
EY World Entrepreneur of the Year event at the Sporting, Monaco, 2023. Photo source: WEOY Monaco / EY
More than an awards ceremony
Over three days, participants were able to experience micro forums and plenary sessions with inspiring keynote speakers such as Toto and Susie Wolff, the “power couple” of Formula One racing, as well unique experiences like a private tour of the Prince’s Palace and wine tasting beneath the Hôtel de Paris.
As Stasia Mitchell, EY Global Entrepreneurship Leader, told Monaco Life that the Principality was chosen because it is a destination where many different cultures can come together in a safe and prestigious environment.
“These entrepreneurs are very rarely recognised and celebrated, and they typically don’t recognise and celebrate themselves,” says Stasia Mitchell. “The magic is, when you bring people like this together, good things are going to happen, even if you don’t try to orchestrate it, they make these connections. Just the momentum it can build is truly fascinating.”
Judges and winners ofEY World Entrepreneur of the Year 2023, Monaco,. Photo source: WEOY Monaco / EY
What does an entrepreneur in a post-Covid world look like?
EY World Entrepreneur of the Year is now in its 23rd year, and much has changed in the realm of entrepreneurial ship, not least of which is how the Covid-19 pandemic has reframed leadership.
“I think what’s unique about this year’s class is that, more than ever, the entrepreneurs are really focused on innovation, adaptability and resilience. It’s more about impact this year, and the idea of utilising business as a force for good has expanded. So, it’s family, community, nation, country,” explains Mitchell. “We’re really not out of any challenging or disruptive times – look at the economy and the war – things continue to add pressure and make it complicated. But how you show up as a leader and the way you show up is what you can control.”
Storms down south, sunshine to the north… What is going on with the weather in France and Monaco at the moment, and can it all be blamed on a “marais barométrique”?
For more than two weeks now, the weather in France has been split along a clear divide between the north and south of the country. While the northern regions have experienced high temperatures and little to no rainfall, some for almost a month, the southern reaches have spent a fortnight or longer under ever-changing skies that often bring rain and storms in the afternoons.
This phenomenon is called a “marais barométrique” in French, or “barometric swamp”. It refers to centers of action where two weather patterns meet. In this case, that’s the high pressure to the north caused by an anticyclone over the UK and the still and heavy low pressure in the south.
Météo France has explained the current situation in the south of France in a general forecast: “In this zone, the morning generally begins under a strong sun. [Then] quickly, with rising temperatures, the first cumulus form. They sometimes become cumulonimbus, storm clouds, especially on mountain ranges. Because they are located in a barometric swamp area, these thunderstorms are not very mobile. Thus, they can dump large amounts of water in a very short time, sometimes 50 to 100mm in one hour.”
While the extra rain is welcome given the dire situation of reservoirs and natural water resources across France, sun lovers in the south of France will be pleased to hear that these could be the final days of storms in the area. Sunny skies are set to return in the coming days, bringing with them temperatures that could break the 30°C threshold for the first time this year.
Temperatures 2.5°C above normal
Recently, temperatures up north have out-stripped the south. In Lille, for example, where rain hasn’t fallen since the start of May, the mercury climbed to 32.4°C at the weekend, while Nice’s hottest day of the year so far was in May at 26.3°C. That said, across the country, temperatures have been warmer than average since the start of June by 2.5°C.
Despite warnings from the police and public authorities, 64 vehicles were impounded due to various offenses committed by their wayward owners during the recent Top Marques event.
Monaco’s police gave fair warning against drivers’ potentially anti-social behaviour ahead of the Top Marques, which features luxury cars, boats, motorbikes, aircraft and high-end products, with a heavy focus on supercars and futuristic design.
The event, which took place from 7th to 11th June at the Grimaldi Forum, was held mere weeks after the Monaco Grand Prix. Both had come with the same stern notice from the government that alerted people that public disturbances, such as over-revving engines, racing noisily through streets and other car and noise-related nuisances by over-enthusiastic car owners, would not be tolerated.
But there will always be those who test the limits of patience. This year, 64 of them wound up with their vehicles impounded by the police for 120 hours at a specially equipped lock up in Fontvieille. Some also received a stiff fine of up to several hundred euros on top of that too.
“We are not here to financially bludgeon people, but to make sure that we confiscate the vehicle with which they are disturbing the tranquillity of inhabitants,” said Fabien Vachetta, Deputy Head of the Events and Society at Monaco’s Police Department. “We tell them: You are passionate about cars and supercars, we understand, but you must accept that people need to sleep, rest and live in the Principality without being disturbed by engine noise.”
Among the cars seized were Mercedes, Ferraris and even a Renault Clio, showing that supercar fans come in all shapes, sizes and budgets.
