To mark the fifth anniversary of the Paris Climate Agreement, H.S.H. Prince Albert II spoke at the Climate Ambition Summit, announcing that Monaco would increase its greenhouse gas reduction target.

The Prince set out Monaco’s action plan for the next decade, announcing that by 2030, the Principality pledges to reduce its carbon emissions by 55% compared with 1990 levels. The new target replaces the previous target, set in 2015 of a 50% reduction over the same period.

Organised by the United Kingdom, France, and the United Nations Secretariat, with support from Chile and Italy, the Climate Ambition Summit provided an opportunity for more than 70 heads of state and government to present their national commitments in the fight against climate change. >> READ MORE: UN: Monaco reiterates commitment to ocean protection

By 2030, Monaco pledges to reduce its carbon emissions by 55% compared with 1990 levels

Prince Albert II

Monaco: a carbon neutral city state by 2050

The Prince also confirmed that Monaco was committed to achieving carbon neutrality by 2050. He also pledged that the country would continue to maintain a high level of international funding to strengthen the adaptation and mitigation capacities of the countries that are most vulnerable to climate change.        

“I have decided that the climate funding allocated by my country should increase steadily over the coming years,” said the Sovereign.

>> READ MORE: Prince Albert II’s speech at the opening of the COP25 >> READ MORE: How impact investment took off in Monaco long before it was a trend