The Principality’s new joint working group, comprising members of the Monaco Association for Financial Activities (AMAF) and the State, has launched a groundbreaking initiative focused on sustainable finance.

As one of Europe’s leading private banking centers, alongside Switzerland and Luxembourg, Monaco aspires to set an example in sustainable development. Increasingly, key figures in the financial sector, from bankers to private business owners, are adopting a more sustainable approach to their decision-making processes. The industry now possesses a heightened awareness of its responsibility to address global challenges, particularly in combating climate change.

“Sustainable finance involves extending a range of initiatives and commitments established by our Sovereign to assist the financial sector in protecting the environment,” explained Jean Castellini, Minister of Finance and the Economy, during an interview with Monaco Info following the first meeting of the working group, “Monaco Sustainable Finance.” The Minister also highlighted the concepts of blue and green finance, which are being showcased at the Monaco Ocean Week event, describing them as “Finance that respects the environment and supports technological innovation through sustainable development.”

“We must ensure that our actions and investments align with our commitments to the planet,” Castellini emphasized, adding, “To be honest, we no longer have a choice. The younger generations, especially those in family offices, are seeking purpose in their investments, not just performance.”

“Monaco Sustainable Finance” is an ambitious initiative with three primary objectives: to protect the planet, develop new practices, and champion innovation by investing in new technologies.