Mission for Energy Transition welcomes new corporate and institutional signatories on board

The Mission for Energy Transition’s National Pact is delighted to announce that some additional signatories have come on board since summer 2019! Monegasque businesses and professionals are committing to reducing their environmental footprints and raising awareness among their teams through a variety of initiatives.

MONACO ASSET MANAGEMENT

Founded in 1999, Monaco Asset Management S.A.M. is a Monegasque financial institution which specialises in wealth management. Conscious of the current challenges in the field of energy, the company has already introduced a number of initiatives. Monaco Asset Management has begun to adopt some green transport measures, by purchasing electric vehicles such as Teslas and Tweezys, and making use of the Monegasque car sharing service, Mobee. On a daily basis, staff are recycling coffee pods, sorting waste, switching to water fountains instead of plastic cups, installing LED lights in offices as they are renovated, and opting to use video conferencing in order to limit travel.

By signing up to the National Pact, Monaco Asset Management hopes to embark on the next steps of its energy transition including, in the short term:

• Switching to recycled paper
• Reducing energy consumption by rolling out LED lights to all premises (relamping)

MONACO SOCIAL SECURITY FUNDS AND INDEPENDENT PENSIONS FUND

The Monaco Social Security Funds have made a commitment to the energy transition on two levels: as a business operating in the service sector and as a property owner (real estate portfolio owned by the Independent Pensions Fund).

With more than 240 employees, the scale of this commitment, and of the actions taken, is significant.

Some of the initiatives that have already been introduced and which are worth highlighting include:

• Switching to electronic communications with insurance holders, employers and health professionals
• Purchasing an electric vehicle for business travel
• Eliminating the use of plastic bottles and cups
• Buying green electricity

In addition, the Monaco Social Security Funds have set ambitious objectives in signing up to the National Pact. These include:

• Continuing efforts to go paperless in order to reduce paper consumption
• Encouraging staff to switch to sustainable mobility solutions
• Investigating the possibility of installing solar panels on buildings in the Independent Pensions Fund’s real estate portfolio
• Carrying out energy audits of the buildings in the portfolio, beginning with the largest

EDMOND DE ROTHSCHILD

Established in Monaco in 1986, the Edmond de Rothschild Private Bank is a leading regional and international player in the industry. As an effective lever in the global energy transition, Edmond de Rothschild has signed up to the National Pact. Its primary objective is to introduce practical actions that will reduce its environmental footprint. In order to achieve this, the bank hopes:

• To purchase one or more electric or hybrid vehicles for business use
• To train staff on sorting waste for recycling
• To ask its cleaning company to use eco-friendly, biodegradable cleaning products
• To go paperless
• To reduce the number and use of printers, and use recycled paper for all printed documents
• To replace plastic bottles and cups with a system of water fountains and reusable bottles
• To switch off electrical appliances as well as standby power to them overnight and at weekends
• To introduce LED lighting in all premises
• To replace single with double glazing
• To install variable flow air conditioning/climate control

MONACO RED CROSS

The Monaco Red Cross confirmed its commitment to the Mission for Energy Transition by signing up to the National Pact in July 2019. It is keen to take a number of simple, everyday actions within its offices. These include:

• Raising its teams’ awareness of the need to use less paper and save energy
• Upgrading its current lighting system by installing LEDs in some buildings (relamping)
• Introducing water fountains and bottles as a replacement for disposable plastic bottles
• Using eco-friendly and biodegradable cleaning products in all buildings
• Introducing waste sorting at Head Office and in the day care center