Understanding the process
As part of the economic recovery plan, the Prince’s Government is keen to help Monegasque businesses reduce their carbon footprint in a bid to:
- Reduce the Principality’s direct and indirect environmental footprint
- Contribute to achieving the national goal of carbon neutrality by 2050, a commitment made by the Principality as part of the Paris Agreement
- Make businesses more competitive on the market, allowing them to stand out by offering a range of eco-friendly products or services and taking action to cut their greenhouse gas emissions
Consequently, part of the Green Fund has now been earmarked to help Monegasque businesses fund energy transition projects, providing grants of up to 70% of the total cost of eligible applications.
If you would like to learn more about the Green Fund, please click here
To be eligible, applications for assistance from the Green Fund and applicant companies must meet the following criteria:
Criteria relating to the applicant company:
- Be duly registered in the Principality’s Trade and Industry Registry or be able to show a current ministerial authorisation
- Be able to prove that it operates a genuine business in the Principality
- Have signed:
- Have completed a simplified greenhouse gas emissions assessment on the Carbon Coach platform: this can be done when you sign the Pact or from your personal Pact signatory account
The energy transition project presented:
To be eligible for assistance from the Green Fund, projects should meet the following criteria:
- The project must contribute to the energy transition, for example by:
- Saving energy (excluding construction work)
- Improving waste management
- Designing eco-friendly products, services or packaging
- Developing renewable energy
- Establishing mobility policies
- Reducing single-use plastic
- Optimising flow management and making use of the circular economy
- Optimising procurement, supply and logistics flows
- Conducting a lifecycle analysis
- Carrying out a greenhouse gas emissions assessment
- Carrying out an environmental or Corporate Social Responsibility (CSR) assessment
- Drawing up an environmental or CSR strategy
- The project must be led by a Monegasque supplier, working alone or as a group with partner suppliers based outside Monaco, unless the skills or equipment are not available in Monaco
- The project may include the purchase of equipment, training, environmental certification for products/an activity, studies, etc.
- The project must offer environmental value added (reducing greenhouse gas emissions or energy consumption) and, as far as possible, economic value added (impact on revenue, return on investment, dedicated teams, etc.)
- The project duration must not exceed nine months
- The cost of the project must be in line with market prices. If awarded, the grant will be calculated solely on the basis of costs documented in the quote or quotes submitted to the Mission for Energy Transition as part of the project leader’s application to the Green Fund. The amount of the grant awarded will not be revised once a formal decision has been communicated by letter, even if there are cost changes during the course of the project.
- The project should not fall under a current regulatory requirement
This assistance can be combined with other Government support measures such as those described here the aim of the project must not be covered by a dedicated grant (such as the purchase of a clean energy vehicle, renovation of windows, roof insulation, carrying out an energy audit of a building, the installation of photovoltaic panels, and various other works).
Project leaders who would like to access a grant to follow up a study or a funded project should submit a new application to the Green Fund.
If you have identified an energy transition project for your business but are unsure who to turn to for assistance, you can check this list of Monegasque suppliers drawn up by the Mission for Energy Transition.
To sign the National Pact for Energy Transition and complete a simplified greenhouse gas emissions assessment (which form part of the eligibility criteria for the receipt of assistance from the Green Fund), you will need to follow the steps set out on pacte-coachcarbone.mc. To do this, click on "I am an entity" in the "How to sign up" section.
To find out what data you need to collect to complete the greenhouse gas emissions assessment, see this guide:
If you require any information about the procedure for signing the Pact and completing a greenhouse gas emissions assessment, write to the Pact team at the Mission for Energy Transition firstname.lastname@example.org
The following supporting documents should be supplied:
- A copy of the quote or quotes for your energy transition project, dated within the last month) issued by one or more Monegasque suppliers
- The result of the applicant company’s greenhouse gas emissions assessment, which can be completed and downloaded by logging into your Carbon Coach account from this website
- A detailed case in support of your energy transition project setting out the context (including the carbon and environmental challenges that the company faces), the link to the company’s strategy, a description of the proposed initiative (methodology and stages, expected gains in terms of reductions in greenhouse gas emissions or energy consumption, schedule, teams involved within the company) and a description of the key indicators and benefits anticipated by the applicant company
- The project context (including the carbon and environmental challenges faced by the company, the link to the company’s strategy)
- The proposed initiative (methodology and stages)
- The expected gains in terms of reductions in greenhouse gas emissions or energy consumption (with evidence to back up the calculations or figures submitted)
- A detailed breakdown of project costs (before and after taxes)
- The project schedule
- A presentation of the supplier/provider selected for the project
- A CV for each member of the project team put forward by the supplier (in the case of intellectual services only)
- A presentation of the members of the project team within the applicant company, and a description of key indicators and benefits expected by the company
- Complete and current details of an active bank account belonging to the applicant company
Please note: Incomplete applications will not be considered. The Mission for Energy Transition reserves the right to contact you should any clarification or additional information be required.
If your application is approved, the assistance granted will amount to between 30% and 70 % of the project cost. The arrangements for paying out the assistance will be as follows:
- 50% at project launch, on presentation of the purchase orders issued by the partners involved and signed by the applicant company
- 50% following project completion, on presentation of the relevant invoices and a document confirming successful completion
The Government reserves the right to reject any project that does not meet the stated criteria. In such cases, you will be informed of the decision by email and, in the case of companies, a supporting document setting out the reason for the rejection will be made available in your "Prince’s Government Online Services" space.
Once you have your supporting documents ready, you can apply for assistance from the Green Fund using the online service
You can track the status of your application from this space.
Once you have submitted your application for assistance to the Mission for Energy Transition, you will receive an email informing you of the response to your application and, in the case of companies, a supporting document will be made available in your "Prince’s Government Online Services" space.