Two intergovernmental organisations dedicated to marine sciences and based in the Principality have agreed to continue working together to find ways to protect and increase knowledge of the seas.
The International Hydrographic Organisation (IHO) and the International Commission for the Scientific Exploration of the Mediterranean Sea (CIESM) renewed their agreement on 23rd March to continue scientific cooperation for the next four years.
The renewal comes as several international initiatives are being launched regarding sustainable use of the world’s oceans, such as the United Nations Decade of Ocean Science. The timely announcement also took place during Monaco Ocean Week, an event led by the Prince Albert II Foundation, the Scientific Centre of Monaco and the Oceanographic Museum to promote ocean sciences and conservation efforts.
The specifics of the cooperation agreement include working together to map the seabed, monitoring marine environment changes, obtaining data and contributing to global ocean initiatives.
The partnership is also collaborative in that the exchange of experiences, training and knowledge is reciprocal, and that technical advice is shared in order to strengthen marine policies from international conventions and organisations.
Dr Mathias Jonas, Secretary General of the IHO, underlined the complementary nature of the two organisations who, he says, are both “committed to increasing our knowledge of the oceans through regional and international cooperation”. He added that “this work will provide valuable background data for the region”.
The IHO was established in 1921 and currently boasts 94 member nations. The association coordinates activities of the national hydrographic offices in order to promote uniformity of marine-related data and documents. Additionally, they publish sea surveys and provide guidelines on the best use of hydrographic data amongst member states.
The CIESM was founded in 1919 to encourage research in the Mediterranean and Black Seas to better understand, monitor and protect the region’s marine environments. They organise workshops for marine professionals, as well as regular collaborative programmes and conferences and provide independent expert advice to national and international agencies.
[caption id="attachment_10463" align="alignnone" width="709"] From left to right: Francesco Grosoli, CEO, Wealth and Investment Management EMEA & Monaco Branch, Barclays; James Caan CBE, Philanthropist, Investor & Entrepreneur; Urs Wietlisbach, Co-Founder and Partner of Partners Group; Frans van Eersel, CEO & Founder of Dopay and Henk Potts, Chief EMEA Economist, Barclays.[/caption]
Barclays hosted its annual client lunch on Tuesday 13, December 2016 and welcomed 150 guests at the Salle Empire at the Belle Époque Hotel de Paris. With the theme “Monte-Carlo Outlook 2017 Direct Investments: Finding Value during Uncertain Times”, Henk Potts, Director of Global Research & Investments at Barclays, moderated the two and a half hour event that focused on Private Equity and Entrepreneurship, and their importance both for the Principality and world economies during a time of political uncertainty.
Francesco Grosoli, CEO, Barclays Wealth and Investment Management EMEA & Monaco Branch, delivered the official welcome to the investment conference and told audiences that while we may be living in uncertain times the reality is that global economy and financial markets are incredibly resilient.
Mr Grosoli added: “Barclays Monaco opened in 1923, there’s been the Second World War, an industrial revolution, and financial crisis but we have been here for our clients, shown resilience and are as solid as the Rock.”
Fabio Fois, Senior European Economist, Barclays Investment Bank, provided a Global Economic Outlook, predicting global growth at 3.6 or 3.7 percent next year. Regarding the UK, which had a 2% growth rate in 2016, Barclays envisions only a +0.7 percent for 2017, and says the weak pound will generate inflation although he added, “The pound is still a safe currency compared to the euro.”
Jean Castellini, Monaco Minister of Finance and Economy, spoke on the subject of “The Principality of Monaco for Start-Ups and Private Equity”. Looking at the topics of credibility and consistency, which are the most important for investors in the field of private equity he referred to Monaco’s virtuous circle and unique economy, which has no debt and no deficit. As a result, he believes there is trust to invest in the country and confidence in the long-term vision of the Prince.
The Minister added that Monaco doesn’t need to compete with financial centres in Europe or elsewhere but rather for people to embrace the experts that “sit here, live here, deal here”, who may consider using investment structures they are familiar with in other jurisdictions.
He concluded that the creation of value, creation of jobs and creation of the Principality’s new image and position in the world will have more to do in the future with the incubation and acceleration of start-ups. He cited Monaco Venture Capital Association as an example, but emphasised: “We’ve decided to set up our own incubator and accelerator, a facility that will open in 2017 in Fontvieille, and will team up Monaco Telecom with the current owner Xavier Niel, who will help us select successful start-ups, whether they already exist in the Principality, or are identified using the incubation process he’s already started up in Paris. We hope that this will be a starting point of a new venture for the Principality.”
The “Story of a Philanthropist, Investor & Entrepreneur” presentation was given by Dragon’s Den James Caan (CBE). Mr Caan’s message was clear: invest in something you know, and understand what that business does, and what you can bring to the table, other than capital. He reminded the audience that businesses by themselves do not create wealth; people create wealth and drive businesses.
Deddy Gan, Head of the Barclays Accelerator Program, went on to talk about the Accelerator program which is currently live in four cities -Tel Aviv, London, New York and Cape Town.
The Monte Carlo Outlook 2017 conference closed with a reminder from the Barclays team that private equity should be considered part of a balanced investment portfolio and wishing everyone a happy and prosperous 2017.
READ MORE: Barclays Monaco: an active commitment to children