Oceans, the Principality’s future, controversy and transparency… Prince Albert II speaks out in interview
Prince Albert II gave a wide-ranging interview to the regional daily Ouest-France © Gaëtan Luci / Prince's Palace
As Honorary President of the Vendée Globe Foundation, Prince Albert II is preparing to usher in a new era of marine preservation while navigating the challenges of a State with complex issues. The Monegasque Sovereign gave an interview for the daily Ouest-France, entitled: Albert II: “Monaco is a village, with its advantages and disadvantages” in the “Le grand entretien du dimanche” (big Sunday interview) section.
On 8 November, Prince Albert II will be taking part in the inauguration of the Vendée Globe Foundation, which is committed to preserving the ocean. For the Sovereign, the Vendée Globe is “an adventure, a legendary race of the highest order,” but also “a tremendous celebration of the sea” that brings together those who love the oceans.
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Monaco has been represented in the competition by Boris Herrmann, a member of the Monaco Yacht Club, flying the flag for the Principality and the Prince Albert II Foundation since 2020, symbolising a strong commitment to protecting the marine environment.
Concrete commitments for the future of the oceans
Prince Albert II announces a research project with National Geographic in the Solomon Islands, where he will study coral ecosystems. In June 2025, Monaco will host a forum on the blue economy, ahead of the United Nations Ocean Conference.
The Prince is well aware of the environmental challenges: “We must remain optimistic, even if decline is continuing and species, both marine and terrestrial, are disappearing or endangered. There is no miracle cure, so we need to find solutions.”
Tradition and innovation combined
While Monaco sees itself as a key player in the ecological transition, the Prince acknowledges the challenges raised by polluting activities such as real estate and yachting: “We can’t change things overnight. But in construction and in transport, I want to develop innovative solutions, such as hydrogen for yachting. Let’s be a laboratory for the promotion of renewable energies in the sector.”
He stresses that “yachting is a fairly traditional industry, and we first need to fully understand it before we can gradually guide it into the realm of responsibility.”
Historical roots and cultural links
The Prince also maintains strong ties with a number of parts of France that have historical links to the Principality, in particular those that belonged to the Matignon family. During his visits, the Sovereign not only commemorates these places, but also wants to see how the Principality can contribute to showcasing their heritage.
“These are not just places to be preserved and commemorated, but also to help the communities and regions to promote their heritage or create joint projects. There are regular requests for help with the restoration of churches and monuments. Whenever I can, I give a positive response, not with State funds, but with a personal contribution,” he explains.
Transparency put to the test
Monaco attracts criticism over its reputation as a tax haven. The Prince is determined to implement the recommendations of the Financial Action Task Force (FATF) in order to get off the tax haven “grey list“.
He says: “I confirm my commitment and determination to implement the latest recommendations within the deadlines. There has been a lot of progress, legislation and measures. I’m confident.” In response to calls for greater transparency, he says: “We have nothing to hide. Measures have already been put in place to ensure the greatest transparency in activities carried out by the State and its representatives.”
The Sovereign in the face of controversy
Against a backdrop of financial tensions and legal battles, Monaco is at the centre of a number of sensitive matters. These include the “Dossiers du Rocher,” with searches carried out last summer at the homes of key figures that are close to the Prince. These events have raised questions about property management in the Principality.
Another area of contention relates to Claude Palmero‘s “Cahiers”, revealed by Le Monde in January 2024. The notebooks, belonging to the former administrator of the Palace’s assets, highlight controversial aspects to do with management of the Prince’s estate.
Prince Albert II, accused of negligence in overseeing business affairs, reacted robustly, denouncing his former advisor’s actions. However, the tone has changed, and the Sovereign is now taking a more cautious stance, telling Ouest France: “I don’t want to stir up a controversy, and I’ll leave it up to the courts.”
To deal with the situation, the Sovereign has undertaken reforms within his government departments: “I took the time to set up new teams at the Palace, in the Judicial Services Department and in the Police Department. And there are new members in the Government. The aim is to provide fresh impetus,” he says.
Looking towards a more peaceful future
As his twentieth year in power approaches, Prince Albert II aspires to balanced growth for the Principality: “I hope that we will continue to develop the Principality in a harmonious manner, with a little more serenity, in a calm climate. I want measured development that takes into consideration the future of our planet,” he says.
He regards his role as prince, while exposed to the spotlight, with a measure of detachment, aware of the responsibility that goes with it: “It’s part of the responsibility, but I’m not looking to be in magazines every five minutes.”