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Monaco Gears Up For Yacht Show

by Ulrika Lomas, for LawAndTax-News.com, Brussels

07 June 2006


The Principality of Monaco is gearing up for the forthcoming 16th Monaco Yacht Show, which will be held between September 20 and 23, 2006.

With 95 super and mega yachts, 530 exhibitors, 8,000 square metres of stands and more than 22,000 visitors, the Monaco Yacht Show's stated aim is to unite "the most prestigious companies from the yachting industry".

This year, in accordance with the current movement which tends towards the construction of ever bigger yachts, the priority will be given to large-scale units. Therefore, more than 55% of the yachts registered for 2006 are between 40m and 90m long.

Official sponsors of the event include watchmaker, Blancpain, the Société Monégasque des Etudes Financières, which is the only Monegasque company specializing in financial engineering for yacht financing, and Mercedes-Benz.

At the 15th Monaco Yacht Show, a decision was made for the event to become carbon neutral, and to help companies willing to commit to sustainable development to find ways to take action.

Together with its daily efforts to reduce its impact on the environment, the MYS this year re-affirmed its commitment to taking part in actions to balance the energy waste generated by the show, and to trying to to raise awareness among participants to reduce their emissions whenever and wherever possible.

This year, the MYS will additionally take part in 3 different offset projects:

  • The Te Apiti Wind Farm, New Zealand : setting up 55 windmills in the Manawatu Gorge in northern New Zealand which will be capable of generating enough power for 45,000 homes;
  • The Coal Methane Capture, USA: installing a methane capture system and flare to burn the 2,000 tonnes of methane (about 50,000 TCO2) rejected by a Pennsylvania mine and reducing it by about 95%; and
  • The Forestry project, France : planting a heath in Western Brittany with Chestnuts, Oaks and Atlantic Pines to protect water catchments and provide a recreation area.


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