The National Council of Monaco has announced the discontinuation of the 'Symbiose' project, an initiative aimed at developing a waste treatment and recovery center on the Charles-III islet, which was intended to replace the current incineration facility.

Council President Thomas Brezzo confirmed the decision during a press conference on May 28, 2025, stating that official confirmation had been received from the government about the project's cessation.

Initially conceived as a major upgrade, the project saw its estimated budget triple from the original projections, raising significant concerns among stakeholders.

The 'Symbiose' facility was projected to produce 75% to 80% less CO2 emissions compared to current levels and aimed to supply energy to the western parts of the Principality, while also incorporating a new recycling center.

The existing incineration plant, operational since 1980, was expected to be decommissioned by 2030.

However, despite the potential benefits of the 'Symbiose' project, it faced mounting criticism.

Brezzo highlighted the financial implications, stating, "We had warned about the investment cost, and we had taken such a delay...

The foundation intended for this project was due for completion in 2025, but it had become unrealistic and unfeasible at an exorbitant price that could jeopardize state finances."

The announcement comes against the backdrop of the recent Formula 1 Grand Prix, during which the council sought to begin addressing pressing legislative and infrastructural issues upon the conclusion of the event.

Moving forward, Brezzo noted that while solutions may still exist within Monaco's borders, there could be a reconsideration of outsourcing waste management services to France.

The Basel Convention, which regulates cross-border movement of hazardous waste, has posed a significant challenge for Monaco in this regard, as the current discourse alludes to household waste rather than dangerous materials typically covered by the convention.

Eighty percent of Monaco's waste is currently managed in France and Italy.

Concerns over the integration of waste services are compounded by legal complexities and the long waiting times associated with involving foreign jurisdictions in investigations of transnational waste crime.

Additionally, the National Council is advocating for legal studies to better understand the implications of these regulatory frameworks, including whether agreements could be established for the transit of waste from Monaco to France.

"We have requested these studies for some time, but they have never been provided," noted a council representative.

There is an underlying urgency to find a resolution as financing remains a critical issue, especially given the escalating costs of the 'Symbiose' project, which was initially budgeted at €340 million but bloated to an estimated €750 million or more.

The cessation of the 'Symbiose' initiative has notably eased certain budgetary pressures on the state.

Brezzo expressed optimism regarding the potential recovery of valuable land for development in the Principality, now that the project has been scrapped.

The Charles-III islet may see new constructions or modifications, aiming at optimized land use.

The ongoing discussion also touched on the need for swift action on legislative matters as the Council queried the current status of governmental efforts to overcome bureaucratic hurdles that have stalled necessary reforms and interventions to meet the requirements set by international entities such as the Financial Action Task Force (FATF).

Brezzo emphasized the importance of demonstrating effective law enforcement practices, asserting that achieving compliance with global standards is paramount for Monaco’s reputation and operational efficacy.

Meanwhile, a significant gap persists regarding the judicial capacity within Monaco, where a shortage of magistrates continues to hinder investigative and prosecutorial processes, particularly concerning financial crimes and money laundering.

The legislative process has also faced delays, causing frustration among elected officials due to the backlog of proposed laws meant to strengthen response capabilities against financial crimes.

Without timely legislative action, the timeline for satisfying FATF demands remains perilously uncertain for Monaco.