Podcast: Exclusive interview with Prince Albert II on the rise of sustainable yachting

26/09/2023

As a staunch and passionate advocate for the oceans, Prince Albert, together with various institutions in Monaco, is on a mission to upturn the superyacht industry and make it as sustainable and environmentally friendly as possible.

One step towards achieving that is the new Sustainability hub at the Monaco Yacht Show which, as Prince Albert explained to Monaco Life, is a great platform for change.

Since 1991, the Monaco Yacht Show (MYS) has been at the forefront of the superyacht industry. And a lot has changed in those 30 years, but perhaps in no aspect more important than sustainability.

Now, a Sustainability hub has sprung up at the centre of the show. It’s easy to identify with its recycled plywood walls and uniquely green logo. There are also plenty of familiar signs like “Reduce CO2 impact”, “Time to shift”, “Fuel cell hydrogen power” and “Sustainable sails”.

With 14 exhibitors, it is certainly not the largest section of the MYS, but it does show where the industry is headed, as Prince Albert explained during an exclusive interview with Monaco Life.

“To have this actual hub with the different presentations and different companies that are in these tents, I think it is a tremendous step forward and wonderful proof that the yachting industry is concerned, not only about their environmental footprint and their impact on the environment, but that they are working hard at finding new solutions.”

*Monaco Yacht Show 2022, photo by Cassandra Tanti for Monaco Life*

The Monaco Yacht Show actually initiated its own pro-environmental approach back in 2005.

“We have been working with the Monaco Yacht Show for three years to introduce this idea of sustainability in yachting,” explained the Prince. “It started off with different programmes, most importantly with carbon offsetting, and then by making this event carbon neutral, which it has been now for 15 years or more.”

There are also Monaco-led initiatives to encourage more sustainable practices in the superyacht industry, and to reward those who are most innovative.

“To try to bring the yachting industry to have better practices, that started off with the Wood Forever Project, which was to encourage the use of wood from sustainable forests, certified forests,” added Prince Albert. “We have a prize for that every year; we give an award for not only the best yacht design, but the most sustainable yacht project.

“It’s not only the sustainable use of different materials but, more importantly, the propulsion, and that was very evident last year when we did the hydrogen forum at the Yacht Club, parallel to the Monaco Yacht Show.”

The yachting industry has certainly made strides over the past five to 10 years to lessen its ecological footprint through new, innovative technologies like hydrogen fuel cells, and its partly been driven by a stronger demand from buyers and those chartering yachts.

“There are many yacht owners, particularly many new yacht owners and many new generation yacht owners, that are concerned about that and they want to make that push toward not only clean energy – and electric is a part of it – but especially hydrogen, and I think that is a very encouraging sign.”

*Monaco Life Editor in Chief Cassandra Tanti with HSH Prince Albert, photo credit: Eric Mathon, Prince’s Palace*

As one of the biggest superyacht shows in the world, the MYS provides an important platform for innovators, says Prince Albert, showcasing that the technology is out there – right now – so that change can be embraced by the maritime industry as a whole.

“Hopefully that will spill over in the future to other areas of maritime, in commercial vessels, of course, but also possibly military vessels. So, this is very important and this is a great showcase for the yachting industry as you know, because if we are able to prove that that is a valid way forward then I think that everybody will embrace it.”

A big appeal of yachting is the ability to seek out idyllic, isolated locations and to enjoy the diverse marine life. So, I asked Prince Albert how much of a responsibility do yacht owners and charterers have to embrace more sustainable practices to preserve these destinations, and is there even enough awareness among them of the challenges faced by the oceans?

“It’s so frustrating, because I witness that first hand in different areas, in that you do get encouraging news on the one hand that there are people out there that are genuinely concerned, but then you talk to another group of people and the awareness is simply not there, or it is in very patchy forms. So, it’s a constant battle and a constant struggle to bring these ideas forward and give them the right platform to find their voice.

“This is a great platform for the yachting industry; this is one of the biggest yacht shows, for superyachts at least, in the world, and so what better platform to express that. But we have to reach out to a wider audience, in other areas also not just in yachting, but to have yachting be an example and show to others that it is possible to imagine a different way forward, and a more sustainable way forward. That’s very important. But we do need more people out there to be convinced and to spread the word more efficiently.”

Photo above of HSH Prince Albert and Cassandra Tanti, Editor in Chief of Monaco Life, Monaco Life, photo credit: Eric Mathon, Prince’s Palace

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This article was first published on 1st October 2022.

Prince Albert amongst first heads of state to sign landmark High Seas Treaty

by: Stephanie Horsman

25/09/2023

Prince Albert II has joined 80 other world leaders in signing the High Seas Treaty, which provides for the common governance of half of the Earth’s surface and 95% of the volume of the oceans.

The High Seas Treaty, also known as the agreement on Biodiversity Beyond National Jurisdiction (BBNJ), was presented in New York last week in the context of the United Nations High Level Week, which was attended by Prince Albert.

“On Wednesday 20th September, the High Seas Treaty was officially opened for signature. HSH Prince Albert II of Monaco, who championed the importance of preserving the high seas from the outset, was one of the first Heads of State to sign the treaty,” confirmed the Prince Albert II of Monaco Foundation in a statement.

MORE THAN A DECADE IN THE MAKING

This milestone agreement, which has been signed by 81 world leaders to date, was designed to allow for common governance of nearly all the world’s oceans and roughly 50% of the Earth’s surface in an effort to take on the challenges associated with environmental degradation, climate change and loss of marine biodiversity, as well as to promote fairness and equality.

This is important as pressure mounts on the “high seas”, the areas beyond any one nation’s jurisdiction and where issues such as high pollution levels, overexploitation and biodiversity loss are causing significant alarm.

The adoption of the BBNJ concludes over a decade’s worth of multilateral negotiations and is in keeping with the United Nations Convention on the Law of the Sea (UNCLOS), the legal framework under which all human activities in the seas take place.

It will enter into force after 60 ratifications.

NOW WHAT?

Once ratified, the High Seas Treaty will allow for the creation of marine protected areas at a global level, with a 2030 deadline set to protect and preserve 30% of the planet’s oceans. This is a marked leap from the current 1% and an ambitious aim.

The agreement has also built a framework for the fair sharing of monetary and non-monetary benefits of marine resources, the transfer of marine technologies to developing nations, and the establishment of a voluntary fund to support developing countries in reaching the UN Sustainable Development Goal 14 on Life Below Water.

Read more:

Prince Albert II of Monaco meets with President Biden during trip to UN in New York

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Photo credit: Michael Alesi / Palais Princier de Monaco

Boxing: Hugo Micallef registers first KO in Monaco debut

by: Luke Entwistle

25/09/2023

Hugo Micallef remains unbeaten as he registered his eighth-consecutive victory on Saturday, and his first in his home country of Monaco.

Micallef headlined Saturday’s boxing spectacle held in the Chapiteau de Fontvieille. The Monegasque, hailed the ‘Fresh Prince of Monaco’, came out to the ring shortly after midnight and wasted little time getting to work on his Czech opponent, Denis Bartos.

The Czech national champion has seven KOs to his name, but he was given no time to settle in front of a fervent Monegasque crowd, with Micallef needing just a matter of seconds to land the crucial blow in the opening round. Hit in the stomach, Bartos went down and failed to get back to his feet.

Micallef: “That was the best feeling I’ve had coming into the ring”

Speaking to Monaco Info, Micallef, making his debut in Monaco, described the victory as “the best feeling” he has had in his fighting career.

“As a pro and as an amateur, I’ve had about 100 fights up to this point, but that was the best feeling I’ve had coming into the ring. I think [the fans] gave me the lift to do what I did in just a matter of seconds,” said Monaco-native boxer.

Having registered the eighth victory of his unbeaten professional career, Micallef’s focus has already turned to his next fight, to be held in the T-Mobile Arena in Las Vegas on 16th November. His focus will then turn to the Olympic qualifying event, with the Paris 2024 Games coming into view.

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Photo credit: Frédéric Nebinger / Direction de la Communication

Fraser Yachts acquires Atalanta Golden Yachts

by: Cassandra Tanti

25/09/2023

Fraser Yachts has acquired a majority interest in the Greek yacht management company Atalanta Golden Yachts (AGY) based in Athens, Greece.

The integration of the AGY team, headed by AGY founding member Popy Kaia, within the Fraser Yachts Greece team lead by Vassilis Fotilas, and Fraser’s parent company, MarineMax, Inc. (NYSE: HZO), was announced on Monday 25^th September.

Founded in 2006, AGY manages 51 yachts in Greece from 21 to 95m+ (70 to 300 ft+), including such renowned yachts as O’PARI (95m/312ft), O’PTASIA (85m/278ft), O’EVA (60m/196ft) and the newly launched O’REA (77m/255ft).

Fraser has served for 75 years in the luxury yachting sector and today manages a client portfolio of yachts worth over 5.8 billion US dollars for owners and a fleet of over 90 charter yachts ranging from 24 to 90+m (79 to 295+ft), including such yachts as the highly sought after M/Y CARINTHIA VII (97m/318ft), M/Y WHEELS (76m/247ft) and M/Y FORCE BLUE (71m/231ft).

John Dragnis, the principal shareholder of Atalanta Golden Yachts, retains a significant interest in the newly combined operation and “will play an important part in the continued growth of the Group’s success in Greece”, according to a joint statement.

“MarineMax and Fraser’s exceptional expertise and global leadership in the superyacht brokerage and luxury yacht services markets presents a compelling partnership opportunity for us,” says John Dragnis. “We are excited to work with the MarineMax family and contribute to the significant growth opportunities created by this powerful combination.”

Following an initial period of transition, the newly combined companies will operate under the brand Fraser Yachts Greece, as part of the overall Fraser Yachts Group.

“Adding to our combined existing success, we are focused on being able to offer the yachts we already represent even greater exposure on the world stage via the Fraser brand and global network,” says Vassilis Fotilas, Managing Director for Fraser Greece. “In addition, we can now offer our clients greater insight and a wider range of services in Greece including sales and purchase, charter retail and yacht management.”

With over 2,700 days booked in 2023 alone, Greece is the world’s number one destination for charter clients with Fraser and AGY.

Photo of Fraser Yachts Greece team provided

Generative AI: France founds strategy action group to keep up with the times

by: Stephanie Horsman

25/09/2023

French Prime Minister Elisabeth Borne spoke of the potential and also the concerns connected to artificial intelligence last week as she launched a specialist committee that will help guide and set the national strategy on generative AI and its uses.

Generative artificial intelligence is defined as AI that can be used to generate content such as text, images and even audio, and it’s an emerging and exciting technology that the French government is keen to address head-on.

Last week, Prime Minister Elisabeth Borne officially launched the first national level committee, which is composed of specialists from a variety of relevant sectors, that will set the future AI strategy for France. The committee has been given an initial six months to come up with a game plan.

The committee will be co-chaired by Philippe Aghion, an economist specialising in innovation, and Anne Bouverot, the president of the Board of Directors of the École Normale Supérieure (ENS). In all, it will be made up of 15 members, including: Gilles Babinet, President of the National Digital Council; Luc Julia, an expert in generative artificial intelligence; Cédric O, a consultant and former Secretary of State for the digital realm; and Yann Le Cun, Vice-Pesident and leading AI scientist at Meta (formerly the Facebook Group).

CHANGE IS COMING

“AI will profoundly change our societies,” said Borne in a statement released on social media. “Both promising and a source of questions, it is essential to anticipate its challenges to ensure our sovereignty and to protect our fellow citizens. This is the reason for the AI committee that we are launching today.”

During the opening of the committee, Borne touched on points related to the AI industry, expressing a desire to train and develop more talent in France, promote investment in French innovation, and to define appropriate regulations for the different sectors to protect against abuses.

FRANCE 2030

A 2018 report on AI by mathematician Cédric Villani really put the technology on the French government’s radar. After its release, President Emmanuel Macron called for money to be earmarked for this technology under the France 2030 plan. This national investment plan is endowed with €34 billion, which includes €30 billion in subsidies and €4 billion in funding schemes to be deployed over five years.

Last June, Macron followed up on these measures, saying, “In the field of AI, I want France to be champion and position itself at the forefront of this new revolution.”

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Photo source: Elisabeth Borne / X

A food and drink guide to MYS 2023: Lunch spots within five minutes of the show

by: Elsa Carpenter

25/09/2023

Make sure to find time in your Monaco Yacht Show diary to visit one – or more – of these great Monaco lunch spots, all less than five minutes’ walk from Port Hercule.

Between the business meetings, the conferences, the networking opportunities and, of course, the yacht tours, the Monaco Yacht Show can be a very busy few days for the thousands of visitors and exhibitors who come to this major event each year.

All this activity can leave little time to grab a meal or even a snack, so preparation is key. No one wants to be left grabbing the last sorry sandwich from a supermarket shelf when there are so many other excellent options if you know where to look.

Enter the Monaco Life Food and Drink Guide to MYS 2023, which, over the coming days, will tell you all you need to know about the foodie scene in the Principality, from places to wine and dine a potential client to the best after-work hotspots where you can enjoy a much-needed post-show beverage.

Let’s start with a journey around the streets that surround Port Hercule, the principal site of the show, and the best local eateries for quick, but satisfying, lunch.

monaco lunch — *A good-sized table, like those at Norma on the rooftop of the Marché de la Condamine, is essential for a company lunch. Photo credit: Norma Monaco*

Marché de la Condamine

We couldn’t do a guide to cafés and restaurants in the port area without featuring the wonderful Marché de la Condamine. In fact, you could probably come here every day of the show without getting bored of the excellent food on offer at this vibrant address, which is found just a short walk back from the port in the direction of Place d’Armes.

From Truffle Bistro and its incredibly tempting all-Italian menu to masterful sushi from MC by Kodera, and from the flavourful Mezze Deli counter serving up classic Lebanese cuisine to the fresh, locally-inspired seafood snacks down at Maison Mer to name but a few of our favourites, there really is something for everyone at this covered market.

The best bit is that no reservations are required. Simply turn up, grab a seat at a counter or a spot at one of the communal tables in the centre of the market and place your order.

Rue Princesse Caroline

Sometimes a good old burger is the only thing that is going to cut it, particularly if you were out late the night before and enjoying Monaco’s party scene. If that’s the case, or you’re just craving some carbs and meat, put Grubers Burgers on Rue Princesse Caroline at the top of your list.

This Giraudi Group venture, a name you might recognise from the popular Beefbar franchise, prides itself on the quality of its 100% pure muscle ground beef burgers that are encased in a “soft and airy bun”. Meal deals start at €13.90 and there are plenty of options on the menu outside of the traditional cheeseburger, such as fish, chicken and veggie burgers as well as a more upmarket truffle edition.

Opposite is Supernature, a wine shop that specialises in “natural wines”, but also serves up some really delicious plates. Their colourful salads and sharing boards are perfect for a light lunch paired with an excellent glass of wine, of course.

Another popular restaurant on this street is Huit & Demi, which is found on the Rue Langlé corner. The menu flits from Italian to Asian-inspired, which might sound like a peculiar combination, but actually works rather well. One guest can enjoy spaghetti alle vongole while another orders fricassée of prawns with coconut milk and green curry.

Restaurants with terraces

Many of the restaurants in the Condamine neighbourhood, which will be the main destination for visitors at the Monaco Yacht Show due to its proximity to the port, are on the small side due simply to the nature of the Principality.

A good place to head if you’re in a group is Norma Monaco on the rooftop of the Marché de la Condamine. There are several round tables suitable for a social catch-up over lunch as well as long dining tables for larger numbers. The cuisine is typically Italian and so is the vibe. The restaurant hosts live music nights on Thursdays, from 6pm to 9pm, that are perfect for an aperitif after the Monaco Yacht Show doors close.

Down on the port, the recently opened Conscientiae, which has replaced Stars’N’Bars, offers ideal access to the show. The healthy food served up by this “eco-conscious” address is soul food too: fresh, full of flavour and bursting with all the nutrients you need to get you through a hectic few days of work.

*Keep your energy levels up with a nutritious meal at wellness hub Conscientiae. Photo credit: Conscientiae*

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Your guide to sustainable seafood restaurants in Monaco

Featured photo credit: Conscientiae

Month: September 2023

Podcast: Exclusive interview with Prince Albert II on the rise of sustainable yachting