Breaking News

6 Covid cases 17 June, 3 hospitalised, 1 in ICU, 35 home monitored, 2,473 recoveries, 33 deaths, 44 incidence rate, 54% eligible population vaccinated

Finance ministers meet for climate change action

Finance ministers meet for climate change action

By Cassandra Tanti - April 8, 2021

Monaco’s Jean Castellini has joined finance ministers from across the globe in a meeting designed to foster economic growth strategies that take into account the environment and the challenges for all nations associated with climate change.

Launched two years ago, the Coalition of Finance Ministers for Climate Action is a meeting of 60 nations’ finance ministers to deliberate and find ways to work together on economic planning strategies that are beneficial in the fight against climate change.

These minister’s countries represent approximately 39% of greenhouse gas emissions and 63% of global gross domestic product.

The virtual meeting on Tuesday was an opportunity for the coalition to renew their calls for the development of sustainable finance, and to stress the need for an eco-friendly post-Covid recovery.

Monaco’s Finance Minister Jean Castellini gave a video speech on the importance of promoting strong economic recovery and growth, while accelerating the transition to a low carbon economy.

“For decades Monaco has thrived to maintain its public finances in order and to invest its budget surpluses in a reserve fund whose creation was enacted in our 1962 constitution,” he said in his address. “For over 20 years, our fund has invested part of its assets in sustainable investment funds.

“Today, in a way consistent with our Sovereign, Prince Albert II and his foundation for the fight against climate change around the world, the Principality intends to broaden the scope of its sustainable investments in all asset classes to foster sustainable innovation and technologies and to mobilise the resources of its banking and asset management industry in the same direction.”

In March, the government announced the creation of a new working group comprising members of the government and the Monaco Association for Financial Activities (AMAF), for a new initiative called ‘Monaco Sustainable Finance’.

READ ALSO: After digital, Monaco is “banking” on sustainable finance

The minister also highlighted the “green recovery” measure put in place by the Principality, in particular the Green Fund, as part of the national recovery plan, a fund that works “by encouraging sustainable innovation in building and construction, by favouring alternative means of transportation in our territory and by promoting sustainable and virtuous tourism in all possible ways.”

 

 

shares
SHARE
Previous articleEMA officially confirms AstraZeneca blood clot link
Next article100% vaccinations for cruise crew and guests

daily

June 17, 2021 | Business & Finance

MEB brings economic powerhouse to Monaco

Cassandra Tanti

One of the world’s top forecasters, Christophe Barraud, has told an audience of Monaco entrepreneurs what he predicts the global economic recovery will look like in 2021.

0
June 16, 2021 | Business & Finance

Mixed bag economically for first trimester

Stephanie Horsman

The first quarter of 2021 was marked by the pandemic in Monaco, but not to the extent of the previous year, according to IMSEE’s latest report.

0
June 14, 2021 | Business & Finance

Focus on Italian investors in new MEB agreement

Cassandra Tanti

The MEB and the Italian Chamber of Commerce in Nice have signed an agreement that will provide members with new local and international opportunities as the recovery takes off.  

0
June 8, 2021 | Business & Finance

ASM partners with Sokin in three-season deal

Cassandra Tanti

AS Monaco has announced that it is the first club in League 1 to partner with Sokin, a FinTech service that’s already well established in the Premier League.

0