Monaco’s Energy Transition

In a delicate global context where the future is fraught with uncertainty and remains tentative, the Prince’s Government does not abandon its commitment to environmental preservation. It is even redoubling its efforts to enable Monegasque businesses to take the step towards a greener future.

During COP 21, held in late 2015 in Paris, H.S.H. Prince Albert II committed to reducing greenhouse gas emissions by 50% compared to 1990 and achieving carbon neutrality by 2050. To achieve this, mobility in the Principality (which alone accounts for 30% of its emissions) has been significantly improved in recent years: high-frequency hybrid buses, availability of electric-assist bicycles and self-service electric cars, electric boat buses for crossing Port Hercule, and more. The various measures taken thus help limit the presence of internal combustion engine vehicles in Monaco.

The development of “clean” energies such as thalassothermy, wind turbines, and solar panels has also been favored to meet the community’s needs with minimal impact on the planet.

What about the daily lives of Monegasque entrepreneurs?

In a pandemic context where finances remain uncertain, it can be costly for a business to switch to electric. However, the Prince’s Government has taken the lead with the “National Green Fund,” a budget created in early 2016 thanks to the State’s budget surplus and the contribution from electricity consumption. Among other things, it provides substantial aid for the purchase of ecological vehicles (hybrid or electric) or for the installation of electricity production devices such as photovoltaic panels.
Through these decisions and measures, the Monegasque State thus provides significant assistance to companies wishing to embrace ecology.

If you wish to know all the details about these measures and stay informed about the latest news concerning the energy transition, we invite you to visit the website https://transition-energetique.gouv.mc for more information.