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20 January 2023 News flash

Sustainable finance at the heart of the Principality’s economy

©Direction de la Communication - Stéphane Danna

On Tuesday 17 January, Jean Castellini, Minister of Finance and Economy, opened the second Monaco Sustainable Finance conference at the Novotel. The Monaco Sustainable Finance initiative was launched in March 2021, focused on the key theme of combatting plastic waste.

In his introduction, Mr Castellini noted that: “It is without a doubt down to the commitment of our Sovereign that the banking and finance industry in Monaco has been a pioneer in the field of sustainable investing. For more than five years now, the Constitutional Reserve Fund has been investing in capital investment products or on the basis of themes such as the one presented today in more targeted sectors – ocean conservation or removing plastic from our planet. 

During the event, the negative external impact of plastic on investor portfolios was discussed, as well as solutions to single-use plastic in the Principality, thanks to the involvement of the Mission for Energy Transition.

To close the conference, the Prince Albert II Foundation presented the Beyond Plastic Med (BeMed) association, which works to protect the Mediterranean from plastic waste. With over 3 trillion plastic particles, the Mediterranean is one of the most polluted seas in the world.

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