The Prince Albert II Foundation is committed to developing such solutions, including through an innovative mechanism: the Medfund.In 2010, the Convention on Biological Diversity adopted the Aichi targets, which include a goal of ensuring that 10% of the world’s marine areas are under a protected status by 2020.
The Prince’s Government and the Prince Albert II Foundation, under the authority of the Sovereign Prince, have stepped up their efforts to achieve this target.
Their efforts included the creation of the Medfund in 2015. Medfund is a non-profit organisation which aims to mobilise public and private funding, through an innovative trust fund, in support of a common objective: developing marine protected areas in the Mediterranean and establishing a network between them.
The Mediterranean represents barely 1% of the world’s oceans but its shores account for 30% of global tourism, 25% of maritime transport and 30% of oil traffic, making it one of the most endangered seas on the planet.
In addition to the Principality of Monaco, the Prince Albert II Foundation and the Oceanographic Institute – Prince Albert I of Monaco Foundation, Tunisia, Morocco, France, Spain and Albania are all now participating in Medfund, along with a variety of organisations involved in ecosystem management and conservation in the Mediterranean (RAC/SPA, MedPAN, WWF-Mediterranean, IUCN Mediterranean, Conservatoire du Littoral, etc.).
