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Supporting a circular economy this Christmas

by: Stephanie Horsman
04/11/2021

Carlo, the payment app that rewards buyers for local purchases, will be again offering gift vouchers to employers who wish to give their workers an end of year treat this holiday season.

Launched in 2019, local app Carlo has been a huge success story. The app, which allows people to purchase goods from 317 local businesses with their smartphone while giving them 5% cash back on their purchases, has provided Covid-wrecked businesses a boost whilst giving savvy consumers a chance to save and spend on things they would be buying anyway.

Last year, Carlo went the extra mile, offering local companies and employers the possibility to give gift vouchers to their employees for a holiday bonus or as a special indulgence. The government was amongst the first to jump on this and in the end gave out roughly 10,000 vouchers to civil servants, state and municipal workers, non-medical staff at Princess Grace hospital and retired civil service workers. A selection of local vendors soon followed suit.

The programme was so popular that Carlo has brought gift vouchers back for the 2021 holiday season.

The app, which boasts 21,000 users, has processed almost €13 million in transactions since inception. These purchases have generated €900,000 in customer rewards and are hugely beneficial to the local economy as the cash back rewards are spent in other local businesses, which generates more consumer awards, creating a circular system good for both purchaser and seller.

Since the launch, over €2 million in VAT has been earned by these transactions making it good for the government as well.

Outside the gift voucher programme, the app has taken on a life of its own with consumers using the app independently. In September 2021 alone, there were 450 daily transactions using Carlo, representing 70% of all active users.

Personal data collected at registration is stored in accordance with the law using the latest technology and transactions are made through Lemonway, an ACPR-Banque of France approved institution. The QR code system means that purchases are practical, fast and safe.

Carlo has been refining its functionalities since its introduction and now boasts features such as bill sharing, digital marketing, improved interfacing and partner showcasing.

 
 
 

COP26 deal making coal redundant

by: Stephanie Horsman
04/11/2021

In a stunning concession, a new deal forged at the COP26 summit has seen 190 countries and organisations pledge to phase out coal-fuelled power generation as well as refraining from building new plants in the coming decades.
Once a staple for energy production, coal’s reputation has taken a serious hit in recent years. The COP26 has taken direct aim at this hugely polluting fossil fuel source, citing it as the single biggest contributor to climate change and in the process has gained pledges from more than 40 nations and dozens of organisations to start shifting away from its use.
Top coal-using countries such as Chile, Vietnam and Poland have all signed on to the pact, as have several major banks who have agreed to discontinue financing the coal industry.
Signatories have agreed to end all new investment in the industry both at home and abroad. Developed nations have said they will no longer use coal as a power source from the 2030s, and developing countries have stated they will be done with coal in the 2040s.
“The end of coal is in sight,” UK Business and Energy Secretary Kwasi Kwarteng said at the climate summit in Glasgow. “The world is moving in the right direction, standing ready to seal coal’s fate and embrace the environmental and economic benefits of building a future that is powered by clean energy.”
Separately, an international campaign aimed at phasing out the fuel called the Powering Past Coal Alliance said it had garnered 28 new members, including Ukraine who pledged to quit coal dependency by 2035. Coal produced about a third of Ukraine’s power last year.
Gains in ending coal use have been made in recent years, but it still produced around 37% of the world’s electricity in 2019. In order to make the shift to stay in accord with the pledge, major investment in heavy coal-using nations will be needed to make their energy sectors cleaner. The UK and the USA announced an $8.5 billion (€7.36 billion) partnership with South Africa on Tuesday to help them phase out coal faster, but more will be needed to assist other nations struggling to make the switch.
This big step forward has been marred slightly by the fact that some of the planet’s biggest coal users, Australia, China, the US and India, have not signed on. China, though, has conceded it would stop funding non-domestic coal plants, though internal projects were not discussed.
Countries such as the UK, Ireland and Germany have spent the last few decades transitioning from coal power to other cleaner forms, giving them a significant leg up.
 
 
 

Prince Albert: “We are not up to the climate challenge”

by: Stephanie Horsman
03/11/2021

Prince Albert II of Monaco has addressed the COP26 climate summit, saying that the lack of urgency on climate control issues has been a major disappointment. It comes as world leaders pledge to cut methane emissions by 30% by 2030.  
Originally delayed due to the pandemic, the COP26 Climate Change Conference is currently underway in Glasgow. On Tuesday, Monaco’s head of state addressed around 120 assembled world leaders, saying that he regretted the fact that countries have not lived up to the commitments set forth by the Paris Agreement in 2015 and that climate change issues are not being progressed fast enough.
“Having the privilege of being one of the oldest participants in these meetings, and consequently of having the memory of many previous COPs, I remember the observations that we shared there, the promises that we made there, hopes that we raised there,” said the Prince. “However, I see today that we are not living up to these promises and these hopes. We are not up to the commitments made in 2015 in Paris during the COP21. We are not up to the climate challenge.”
Prince Albert added that he had hope in the collective ability to make meaningful change, saying, “Thankfully, there is still time to act. There is still time to limit global warming to 1.5°C, a threshold that the IPCC has shown us is a limit. There is still time to develop another energy model, which is the only way to guarantee our common future.”
Prince Albert used the Monegasque model as an example of how small changes can make big differences, highlighting some of the policies and actions the Principality has enacted including the total electrification of the urban public transport network by 2025, ocean energy heating systems, and solar panel installations. “Monaco is fulfilling its share of this communal fight,” he said.

Prince Albert attending the COP26 summit in Galsgow, photo by Photos Gaetan Luci, Prince’s Palace

The European Union and the United States were joined by more than 80 countries in pledging to cut methane emissions, the most potent greenhouse gas, by 30% by 2030.
It is the most significant achievement made thus far at the summit and will have a powerful short-term effect on global warming.
Until recently, the focus has been on carbon dioxide (CO2) emissions, but methane (CH4), which has received little attention until recently, is over 80 times stronger than CO2. Sources of methane emissions come from livestock and open pit coal mines.
The United Nations last month said that methane emissions around the planet could be cut by 20% with little to no cost using practices and technologies already available, and another report from earlier this year stated that “available targeted methane measures” could see methane levels lessened by 45% by 2023.
This alone could cut 0.3º C off projected global warming temperatures, reduce air pollution deaths by 250,000 and increase the world’s crop yield by 26 million tonnes, the UN Environment Programme said.
According to European Commission President Ursula von der Leyen, the methane cut would “immediately slow down climate change”, while US President Joe Biden called it a “game-changing commitment.”
Photo by Ivars Utināns

Additionally, over 100 nations have agreed to end deforestation practices by the end of the decade as well. Details on how this will eventuate are few, and environmentalist groups are sceptical about how it will be effectively implemented, but the determination seems sincere with the collective countries making a multi-billion-dollar pledge towards the goal.
A similar vow was made in 2014 in New York, but seven years on, little has been done to stop the progressive destruction of forests. Nearly half the world’s forests have been cut down, and the decimation of the Brazilian Amazon basin continues at an alarming pace under President Jair Bolsonaro.
Despite the challenges, there is hope that this renewed pledge will be different in that it secures the rights of indigenous people and recognises their role as guardians of the forests.
The COP26 summit, which runs from 31st October to 12th November, has brought parties together to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change.
While world leaders have now left the summit, high-ranking officials are staying on to discuss and debate more detailed actions and commitments to curb climate change.
 
 
Top photo by Gaetan Luci, Prince’s Palace
 
 

Monaco start-up secures €3.7 million in funding

by: Stephanie Horsman
02/11/2021

Monaco start-up YouStock has reached a major milestone with three major new investors, giving them the capital to expand not only in France, but also internationally.

Founded in 2015, YouStock, the Monaco company that packs, moves and stores household goods and furniture at a reasonable price, has had a meteoric rise. Just two years into operations, the start-up attracted the attention of business incubator MonacoTech, and now they have secured funds from three new investors which will allow them to grow ever faster.

Amavi Capital, a fund specialising in European PropTech, the la Région Sud Investissement and business angel Jean-Luc Haddad, founder and president of Grospiron International, have joined forces with YouStock, investing €3.7 million in the company.

This injection of capital will allow YouStock, which has operations in Nice and Paris as well as the Principality, to continue their national expansion plans to Lyon by the end of 2022, with another to-be-determined European capital set to be established in early 2023.

“Ever since its launch, we’ve been impressed by the digital platform developed by the

YouStock team, as well as the growth they’ve generated,” said Frederic Van den Weghe, Managing Partner at Amavi Capital. “Supporting YouStock in their

ambitions to grow in France and in Europe is perfectly in line with the PropTech focus of our investment strategy. YouStock revolutionises the way you can manage your belongings on demand, short or longer term, and at a very competitive rate. All on an intuitive digital platform.”

YouStock Co-Founders Alexis Bouresche and Pierre Charvet found a hole in the self-storage market and went about plugging it. The logistics and costs of storing furniture and household items were often prohibitive for people, and the idea stemmed from these constraints.

You Stock’s guiding principles offer solutions by giving customers reasonable pricing, up to 40% less than other self-storage facilities, and customised service that allows clients to directly manage the organisation of their storage online with a QR coded inventory system. This feature means that select items can be delivered back to customer’s homes within a 48-hour time period at the click of a button.  

The company has seen phenomenal growth, boasting a clientele of 1,200, a 90% rise since 2020, and they even managed to thrive during lockdown.

YouStock has also chosen its locations wisely, with the Paris opening being a massive success due to rising rent prices forcing people into smaller flats. This has led to the need for cost-effective solutions for off-site safeguarding of personal belongings.

“Our success in Paris, Monaco and Nice confirms the relevance of a service like YouStock in big cities,” said CEO Alexis Bouresche. “By offering city dwellers the fairest, simplest, and most affordable model, we aspire to quickly become a key player. This raising of capital offers a real opportunity for us to gain a foothold throughout France over the next few months.”

YouStock’s goal is now to go beyond France’s borders and cover the whole of Europe.

 
 
 

“Sport has a unique power to highlight climate change”

by: Luke Entwistle
02/11/2021

Nico Rosberg, owner of E-sports team Rosberg X Racing, has waded in on COP26. A prominent figure within the environmental sub-section of the sporting world, Rosberg took to Twitter to advocate for the implementation of environmental policies, whilst also confirming his attendance at the conference this week.
Since his retirement from Formula 1 following his championship-winning season in 2016, Rosberg has dedicated himself to the environmental cause, culminating in the creation of his own E-rally team Rosberg X Racing, which recently earned him the European Culture Award for the Environment.
In a video and subsequent thread posted on Twitter, Rosberg on Monday called for urgency in the face of the climate crisis. In particular, he highlighted the Paris Agreement commitment to limiting the global temperature rise to 1.5 degrees by 2030 stating that, “Decisions made now affect the pace of transition to reach that zero carbon emission goal.”


In order to reach that target, Rosberg has advocated for three important changes to be immediately implemented. Firstly, he called for a shift from fossil fuels towards renewable energy sources. Secondly, for the protection of rainforests and biodiversity, primarily through stopping deforestation. Finally, to build circular economies for every industry, in order to stop the use of single-use plastics.
Rosberg’s advocacy for sustainability uses the medium of sport to convey the environmental message as, in his own words, “Sport has a unique power to highlight climate change.” His engagement in the novel Extreme-e rally series has already raised the profile of climate change within a sporting context, with other racing series, including Formula 1, now starting to consider and address their environmental impact.
Rosberg will be hoping that his in-person attendance at COP26 will further raise the profile of sustainable sport, and hopefully elicit tangible, positive change at this critical juncture for the survival of the planet.
 
SEE ALSO:

Rosberg X Racing lose out in thrilling Arctic X Prix

Rosberg’s team claims 2nd straight Extreme E win

Rosberg X Racing makes history as first Extreme E winner

 
Photo: Screenshot of Nico Rosberg during Twitter video
 
 

"The COP has turned blue"

by: Cassandra Tanti
01/11/2021

Prince Albert was there for the opening day of COP26, launching the third declaration of ‘Because the Ocean’, an initiative he activated in 2015 that calls for oceans to be part of the solution to tackling climate change.
HSH Prince Albert II of Monaco was joined on 31st October by Chile’s Minister of the Environment and President of COP25 Carolina Schmidt, Pacific Islands Forum Secretary General Henry Puna, and a number of ministers and ambassadors for the launch of the third ‘Because the Ocean’ statement at a special event at the University of Edinburgh.
The 2021 declaration, described as “a plurilateral initiative for a multilateral ocean outcome at COP26”, calls for the adoption of a COP26 decision that encourages all Parties to the UN Convention on climate to better take into account the interaction between ocean, climate and biodiversity in their implementation plans for the Paris Agreement, and to recognise the need for greater ambition at all levels to fight climate change and protect the ocean.
The signatories of the Declaration affirm that they commit to:

  • Work to accelerate efforts to phase out greenhouse gas emissions associated with international maritime transport;
  • Promote the development of clean renewable energy sources at sea, taking into account the possible impacts on marine and coastal ecosystems;
  • Advocate for the strengthening of public and private sources of support for climate adaptation and mitigation of its effects on the ocean, particularly with multilateral development banks, climate funds, public aid to the development and other international financial institutions; and
  • Collaborate with the Intergovernmental Panel on Climate Change (IPCC) to achieve these goals and foster the exchange of knowledge and good practices.

In his address, Prince Albert underlined the essential role the ocean plays in regulating the climate by absorbing more than 25% of CO2 emissions and 90% of excess heat due to global warming. He also discussed the impact of warming ocean waters, changes in ocean currents and ocean acidification on marine life, as well as the effects of sea level rise on coastal environments and the increasing number of extreme weather events related to oceans.
“We must fully explore the role of the ocean and strive to better understand it, develop conservation tools, strengthen the means implemented to promote it, improve its governance and take better account of ocean issues in all United Nations negotiations,” said Monaco’s head of state.
Despite the crucial link that exists between the ocean and the climate, it was not until the COP25 in 2019 that the ocean was really taken into account in the work of the United Nations Climate Change Convention. Of the 120 Nationally Determined Contributions (NDCs) submitted prior to COP26 in accordance with the Paris Agreement, 80 refer to action in favour of the ocean. After handing over the presidency of the COP to the United Kingdom, COP25 President Carolina Schmidt said that “the COP has turned blue and all subsequent COPs will be also.”
The launch of the 3rd ‘Because the Ocean’ declaration is just the beginning: more countries are expected to join the initiative before the conclusion of COP26.

Prince spearheads ocean protection at COP
The ‘Because the Ocean’ (BTO) initiative was launched under the patronage of HSH Prince Albert II of Monaco during the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP21) in Paris in November 2015, calling for better consideration of the interaction between the ocean and climate change within the mechanisms of the convention.
23 countries signed the first BTO declaration, calling for 1) a special IPCC report on the ocean and cryosphere in the context of climate change, as proposed by Monaco; 2) the convening of a conference by the United Nations on the ocean to promote the implementation of SDG14, the sustainable development goal for the ocean; and 3) the adoption of an ocean action program under the United Nations Convention on Climate Change (UNFCCC).
Due to the growing interest in the convention, a second BTO declaration was launched at COP22 in Marrakech in 2016. In this declaration, the 33 signatory countries “encourage the parties to the UNFCCC to consider Submit Nationally Determined Contributions (NDCs) that promote, where appropriate, ambitious climate action to minimise the adverse effects of climate change on the ocean and contribute to its protection and conservation”.
Over the past five years, through awareness-raising and visibility actions, international and national workshops and political advocacy, the ‘Because the Ocean’ initiative has encouraged the integration of the ocean into the debate around climate change policy, commonly referred to as the ‘ocean – climate nexus’, emphasizing that the ocean must be part of the solution to tackling climate change if greater ambition is to be achieved.
 
 
Photos by Gaetan Luci, Prince’s Palace