The Prince Albert II of Monaco Foundation signs a partnership agreement with the Ellen MacArthur Foundation
On Friday 12 October in the presence of HSH the Sovereign Prince, HE Bernard Fautrier, Vice-President and Executive Director of the Prince Albert II of Monaco Foundation, and Dame Ellen MacArthur, Founder and Chair of Trustees of her eponymous foundation, signed a partnership agreement providing for cooperation between the two foundations in promoting the development of a circular economy in the Mediterranean area, with the particular aim of strengthening measures to tackle plastic pollution.
Established in 2010, the Ellen MacArthur Foundation has as its mission to put the circular economy centre stage in international debate by demonstrating its economic potential and related opportunities, at the same time as stimulating circular innovation, especially for key material flows. The New Plastics Economy initiative applies these principles and will be the focus of the collaboration with the Prince Albert II of Monaco Foundation. Based on three main founding principles, the circular economy preserves and enhances natural capital, optimises the use of natural and technical resources and promotes a virtuous circle.
As the volumes of waste at sea are constantly growing, it is more vital than ever to bring together the different stakeholders – local government, companies and organisations, as well as investors and business owners – to accelerate the adoption of an economy based on the reuse of resources through innovative, positive and sustainable solutions. Improving flow management and increasing the lifespan of materials are key concepts in the circular economy, which relies heavily on the development of renewable energies. These are also priority areas for the Prince Albert II of Monaco Foundation. Since it was set up, through the projects and initiatives it supports, the Foundation has been actively working to promote the emergence of a more respectful and sustainable human/nature balance that provides new and enduring economic opportunities for future generations.