Ladies and Gentlemen, Dear friends!
I am delighted to welcome you to Monaco for the second year running.
You have come here to focus on a particularly sensitive subject: that of energy security. I want to stress how important this issue is, and above all how it must be tackled globally.

Today we are at a crossroad.

The energy model that our society has adopted over the last few decades has clearly revealed its numerous shortcomings.

These failures include the unequal distribution of resources, which creates dramatic inequalities between regions, countries and individuals.

They include the scarcity of these very resources – a scarcity that we know is increasing, and one that creates major strategic tensions.

Finally, they include environmental impacts related to energy, the serious effects of which we are imposing on future generations, effects such as the destruction of ecosystems, climate change and pollution.

The consequences of our civilisation’s energy model, which is based on fossil fuels, are therefore to jeopardise the future and to cause conflict. Conflict between those who, thanks to geology possess a source of energy and those who are deprived of this. Conflict between those who are able to access energy and those who cannot. Finally, conflict between those who are consuming energy today and those who will face the consequences tomorrow.

Naturally, this situation generates extreme tensions. And these tensions will only get worse, as resources become increasingly scarce and as the effects of hydrocarbons on the environment prove to be increasingly serious.

Therefore, it is our duty to abandon our current energy model and construct a new one before it is too late.

Designing a new model today means moving away from the carbon economy. It is a matter of choosing energy transition and renewable energies. Energies that are universally distributed, that are inexhaustible and which do not threaten the future of our planet.

This transition has already begun; it is starting to bear fruit, and must be supported.

This is what we are doing in Monaco, through a global policy aimed at promoting renewable energies, clean mobility and energy efficiency.

This is what we are doing as part of our international commitments, through our active participation in UN climate talks.

This is what we are also doing in supporting and welcoming numerous civil society initiatives, such as the EVER ecological vehicle trade fair, and the Formula E, one round of which took place here in the Principality a few weeks ago.

And it is what I hope you will do in your discussions, by making this energy transition one of the focal points of the local and global strategies that we must deploy. And by not separating energy security from environmental security.

Because, in order to reflect on and implement the energy transition, one of the key challenges of this century, we need a great deal of determination, energy and skill. But above all we need a global, strategic vision, particularly in terms of security and long-term consequences.

This is why I wanted to send you this message today: a message focused on the commitment necessary for moving towards a low-carbon economy, and focused on the need for each one of us to explore the mechanisms and the consequences, in order to promote its deployment.

But I can not conclude by ignoring the decision announced yesterday by the administration of a country that is particularly dear to my heart. By deciding  to exit the Paris agreement on climate the US administration in my view is not only making an historical error, which will notably be accountable to future generations, but also seriously undermines America’s global leadership and its opportunities for economic development that can only be based on technological innovation and the development of a non carbonated economy.

I hope your discussions will help shed light on these key issues.

Thank you very much.