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Day: 11 December 2024

Monaco launches Blue Economy Index

by: Cassandra Tanti
11/12/2024

The Prince Albert II of Monaco Foundation, in collaboration with ODDO BHF Asset Management and Altitude Investment Solutions, has launched the Blue Economy Index, a groundbreaking financial tool aimed at promoting a sustainable ocean economy. 

Launched on 11th December 2024, the Blue Economy Index is designed to guide investments into companies demonstrating strong environmental, social, and governance (ESG) commitments, particularly those involved in sustainable fisheries, waste management, plastic recycling, and water treatment. Managed by ODDO BHF Asset Management, the index identifies global leaders in advancing the “blue economy” and serves as a benchmark for creating bespoke financial products.

“From plastic pollution to the overexploitation of marine resources, our response must be bold and far-reaching,” said Olivier Wenden, Vice President and CEO of the Prince Albert II Foundation. “Integrating sustainability into business strategies not only protects ecosystems but also attracts conscious investors and ensures long-term profitability.”

The blue economy focuses on harnessing the ocean’s resources for economic growth while ensuring the preservation of marine ecosystems and promoting sustainability in industries like fishing, energy, and tourism.

The Blue Economy Index represents a significant step in the Foundation’s strategy to merge philanthropy and impact investment. It offers investors a concrete opportunity to contribute to the preservation of marine ecosystems while supporting resilient, low-carbon societies. Altitude Investment Solutions will complement this effort by creating a range of tailored investment products based on the index.

See also: Monaco to host Blue Economy and Finance Forum as part of 2025 UN Ocean Conference

Proceeds from the index’s management fees and entry rights will directly support the Foundation’s Mediterranean program, which combats plastic pollution, protects species like the monk seal, strengthens marine protected area management, advances scientific research, and preserves freshwater ecosystems. With reduced management fees and financial contributions from both partners, the initiative reflects a unified commitment to securing a sustainable future for the oceans.

The new Blue Economy Index aligns with Sustainable Development Goals 14 (life below water), 12 (responsible consumption and production), and 6 (clean water and sanitation).

See also: 

Podcast: Olivier Wenden, CEO of the Prince Albert II of Monaco Foundation

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Photo credit: Nopparuj Lamaikul, Unsplash

 

Cybercrime victims in Monaco to get free support under new government programme

by: Cassandra Tanti
11/12/2024

Monaco is taking a bold step forward in tackling cybercrime, with a new initiative aimed at protecting individuals and businesses in the digital age. The government has joined forces with French cybersecurity experts to create a system that will offer victims the support they need while promoting awareness and prevention.

On 14th November 2024, the Groupement d’Intérêt Public Action contre la Cybermalveillance (GIP ACYMA) and Monaco’s Agence Monégasque de Sécurité Numérique (AMSN) signed a cooperation agreement to combat cyber malfeasance. The partnership was formalized by Jérôme Notin, Director General of GIP ACYMA, and Frédéric Fautrier, Director of AMSN, and focuses on assistance for victims, software development, and cybersecurity certification.

Leveraging the success of GIP ACYMA’s cybermalveillance.gouv.fr platform, launched in 2017, the initiative will adapt advanced tools and the “ExpertCyber” certification framework to fit Monaco’s legal requirements. This will help fast-track the creation of a national support system to aid those impacted by cybercrime in the Principality.

The programme will connect victims with certified professionals, raise awareness about the importance of protecting personal data online, and establish an observatory to monitor cyber risks in Monaco. It will operate as a collaborative effort between public and private sectors, bringing together government representatives, digital users, service providers, and tech solution developers.

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok. 

Photo: Jérôme Notin and Frédéric Fautrier, credit: Government Communication Department

Local teenager Alexandrine Noghès launches Mentors Club Monaco

by: Stephanie Horsman
11/12/2024

The inaugural meeting of Mentors Club Monaco, a groundbreaking mentoring programme conceived by Alexandrine Noghès, a 16-year-old student from the Principality, was held at the start of this month in the presence of Prince Albert II and a host of leading business and government figures. Noghès’ forward-thinking initiative aims to guide high school students in Monaco as they explore potential career paths by connecting them with accomplished professionals from diverse industries.

Mentors Club Monaco, which held its first meeting on 4th December, is an innovative new concept in the Principality. Rather than being led by a businessperson or philanthropist, this fresh and focused club is instead headed by a local teenager, Alexandrine Noghès, a student at the Lycée Albert Ier.

Noghès and the club’s objective are clear: to help students in Monaco discover their passions and future professional vocations by providing access to mentors who can share their expertise and experiences. Some 30 mentors from fields such as law, medicine, aviation, sports and entrepreneurship have already signed up to support the scheme.

Noghès has already secured the support of 30 or so mentors from fields such as law, administration, government, medicine, aviation, sports and entrepreneurship. Photo credit: Stephane Danna / Monaco Communications Department

Secondary school students can get involved by completing a career questionnaire, which helps pair them with a mentor whose expertise aligns with their aspirations.

“The mentors will help spark ideas and enable us to discover as many different professions as possible,” Alexandrine told Monaco Info. “Each mentor has something that they can pass on to a teenager.”

The inaugural meeting featured a number of prominent guests, including Geneviève Berti, Director of Monaco’s Communication Department; Monegasque freediver Pierre Frolla; Stéphane Valeri, CEO of the Société des Bains de Mer; and Frédéric Genta, Interministerial Delegate for Attractiveness and Digital Transition. Prince Albert II was also present for the inaugural meeting. Together, this involvement from high-ranking officials and leading business minds highlights the extraordinary potential of this initiative to shape and support the Principality’s future generation of professionals.

Alexandrine drew inspiration from the speed mentoring programme organised in 2022 by SheCanHeCan and the Association of Women Business Leaders of Monaco. Determined to expand on this concept, she rallied her friends to help create Mentors Club Monaco.

“A mentor’s job is to pass on and share his or her experience and skills, and to guide a teenager on their pathway,” said the engaging student.

With its diverse and dedicated mentors, Mentors Club Monaco promises to be a transformative experience for participating students. By bridging the gap between education and the professional world, it offers young people invaluable tools to shape their careers and their futures.

 

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok. 

 

Main photo: Prince Albert II of Monaco with 16-year-old Alexandrine Noghès, the founder of Mentors Club Monaco

Photos credit: Stephane Danna / Monaco Communications Department

Ukrainian team takes gold at Monaco’s 29th International Judo Tournament

by: Niki Borisova
11/12/2024

Over the weekend, the 29th International Judo Tournament of Monaco (TIJM) brought together top judo teams from across Europe and beyond for a series of competitive events and showdowns in the Stade Louis II’s Salle Omnisports. The event culminated on Sunday 8th December with an impressive final match between a Ukrainian team and Judo Nice Métropole.

This year’s tournament carried special significance for the Principality, as it marked the 50th anniversary of the Monégasque Judo Federation and the 75th anniversary of the Judo Club of Monaco.

Celebrations included a historical video tribute reflecting on the federation’s achievements and milestones, as well as a warm ovation for Gévrise Emane, Vice-President of the French Judo Federation. Emane also used the occasion to formalise a partnership agreement with Monaco’s judo federation, represented by its long-time president Sophie Vincent, further strengthening ties between the two organisations.

Monaco’s team, led by François Bick, showed determination despite a challenging pool draw that included teams from Spain, Venelles, and ACBB. While the Monégasques didn’t advance beyond the group stage, standout performances by Enzo Toriti (-73kg) and Lucas Berthezene (+100kg) highlighted the team’s potential. The tournament provided valuable experience for the local athletes, who competed against some of the strongest clubs and national teams in Europe.

The competition was ultimately won by a team from Ukraine, with silver going to the Nice-based team and bronze to a team from Spain.

Honouring the spirit of judo in Monaco

The closing ceremony was a fitting tribute to the sport’s values of respect and perseverance. Local officials, including Jacques Pastor, representing Mayor of Monaco Georges Marsan, and Yvette Lambin-Berti, Secretary of State and representative of Prince Albert II, joined Emane in presenting awards to the competition’s successful athletes. Young judokas from the Judo Club of Monaco also participated in the ceremonies.

With the 29th edition now complete, attention turns to the future of the tournament. Over the years, TIJM has established itself as a key event on the international judo calendar, attracting teams from across Europe and beyond. As Monaco prepares to host the 30th edition in 2025, the Principality reaffirms its position as a hub for international sport.

Read related:

Championships of the Small States of Europe coming to Monaco in 2026

 

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok. 

 

Photo credit: Charly Gallo / Monaco Communications Department

Photos: Prince Albert commemorates grandfather John B. Kelly’s Olympic legacy

by: Stephanie Horsman
11/12/2024
John B. Kelly

Prince Albert II has travelled to the city of Argenteuil, northwest of the French capital, to participate in a special commemorative event paying tribute to his maternal grandfather, John B. Kelly, a triple Olympic rowing champion, and his cousin and teammate at the 1924 Paris Olympic Games, Paul Costello.

On 9th December, the city of Argenteuil, on the banks of the Seine, reflected on the achievements of Kelly and Costello at a commemorative event held near the Argenteuil Rowing Club, close to where the two US rowers won gold on 17th July 1924.

Among those who gathered on the newly named Quai John B. Kelly was Prince Albert II of Monaco, Kelly’s maternal grandson. Several other members of the extended Kelly family also travelled to the event, including John B. Kelly III, as well as Valérie Pécresse, President of the Île-de-France Region, Philippe Court, Prefect of Val-d’Oise, and Patrick Ollier, President of the Greater Paris Metropolis.

See more: Photos: Prince Albert walks in his mother’s footsteps in Philadelphia

Accompanied by the Mayor of Argenteuil, Georges Mothron, Monaco’s Prince Albert officially unveiled the sign designating the quay’s new name, which now stands as a lasting reminder of Kelly’s extraordinary contributions to the sport of rowing.

PHOTO EXHIBIT

As part of the commemoration, guests at the ceremony were invited to explore a photographic exhibition installed along Quai John B. Kelly. Developed in collaboration with the Archives of the Prince’s Palace, the exhibition featured 10 striking images that recounted Kelly’s historic triumphs at the Antwerp Olympic Games in 1920 and the Paris Games in 1924. This visual display celebrates both the sporting prowess of Princess Grace’s father and his enduring influence on the world of rowing.

Adding a contemporary touch to the occasion, a fresco by urban artist Sckaro capturing the dynamic spirit of John B. Kelly and Paul Costello in action has been painted on a nearby municipal building. The mural commemorates the duo’s legendary performance and bridges the past with the present, offering another tribute to a great sporting achievement.

Prince Albert II of Monaco with urban artist Sckaro. Photo credit: Michael Alesi / Palais Princier de Monaco

The day concluded in the serene gardens of the Argenteuil Abbey, where official speeches were delivered. In his address, the Prince highlighted the symbolism of the tribute, emphasising the historic and friendly ties connecting Monaco, France and the United States.

He also spoke of the universal and enduring power of sport as a medium for fostering friendship and solidarity—values that resonate deeply in the context of the recent Paris Olympic Games.

To see more from the event, click on the images below:

Read related:

Championing change: Prince Albert II salutes sporting heroes at 2024 Peace and Sport Awards

 

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok. 

 

Photo credit: Michael Alesi / Palais Princier de Monaco

Will the Tende tunnel to Limone and Piedmont be open this winter?

by: Stephanie Horsman
11/12/2024

The Tende Tunnel, which connects the Roya Valley in France with Piedmont in Italy, has been closed since the devastating Storm Alex that swept through the region in October 2020. It was initially due to reopen in late 2023, then in the summer of 2024, but successive delays and scandals have plagued the site. With a new deadline now set for the end of this year, will the tunnel be fit for purpose before the start of 2025?

From legal troubles to scandals of rumoured mafia involvement, as well as the impacts of the Covid pandemic, the reopening of the Tende Tunnel has been repeatedly postponed over the last few years, causing untold difficulties for local populations and economies in the mountainous areas on both sides of the site.

The tunnel, a vital infrastructure link for both the French and Italian economies, connecting the Côte d’Azur with Italian destinations including the Riserva Bianca-Limone ski resort, Cuneo, and Turin, was all but wiped off the map by Storm Alex in late 2020. The storm tore through the deep river valleys in this part of the Alps, washing away homes and infrastructure and leading to the deaths of dozens of people.

See more: Prince Albert II celebrates restoration of historic monuments damaged by Storm Alex

But now, after all the setbacks, there is hope that the tunnel could be operated under a “construction site mode” before the end of 2024.

Jean-Michel Palette, the president of the Intergovernmental Commission (CIG) overseeing the project, has confirmed to the French press that work on the tunnel and the bridge destroyed in the 2020 storm is nearing completion.

With the bridge finished and civil engineering for the tunnel almost done, the installation of essential equipment like lighting, ventilation, and water networks is said to be the main focus of the workers and construction teams on site. According to France 3, approximately 150 workers are currently involved in moving the project beyond this final stage.

French authorities, however, remain guarded about the prospective reopening of the tunnel, with their Italian counterparts marginally more optimistic.

The French officials involved have emphasised that several technical and safety conditions, including network infrastructure and safety equipment testing, must be addressed before any reopening can occur. These checks will be carried out by authorities on both sides of the border to ensure the tunnel is fit for purpose once again. No official dates for this testing process have been announced as yet.

If the tunnel is in an acceptable condition to open in what is being termed “construction site mode” by the end of 2024, light vehicle traffic only will be allowed to access the route between 8am and 8pm, in alternating lanes. Heavy goods vehicles, electric vehicles, tourist buses, and vehicles carrying hazardous materials will be prohibited during this period. Reports suggest that the remaining work will continue at night, once the daytime traffic has ceased.

A budget overrun

The work was initially budgeted at €141 million, but the cost of the project has reportedly risen to an eye-watering €330 million – an increase attributed to circumstances such as the extensive damages incurred from Storm Alex and price increases over the past decade. France is funding 42% of the project.

Two of the Italian companies involved in the project, Edilmaco and the Italian road agency Anas, were due to face fines in mid-2024 due to their role in the delays, but the start date for these penalties has since been moved to 7th January. The fines are estimated at €130,000 per day, fees that will be deducted from the outstanding payments owed to the contractor.

Read related:

Prince Albert II commits €3 million to Storm Alex reconstruction projects 

 

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok. 

 

Photo credit: Markus Schweiss / Wikipedia