13.12.2023,
15045 Zeichen
Dubai, Uae (ots/PRNewswire) - Sustainable Markets Initiative's
Founder, His Majesty King Charles III, opened the COP28 Business and
Philanthropy Climate Forum at reception in Dubai
More than 1,000 private sector CEOs, Heads of State and Philanthropic
leaders came together at first-ever Business and Philanthropy Climate
Forum, for which the Sustainable Markets Initiative was the Strategic
Partner
Industry Transition Initiatives across its Task Forces and Country
Engagement
The Sustainable Markets Initiative, the Strategic Partner to the
COP28 Business and Philanthropy Climate Forum (BPCF) helped convene
more than a 1,000 CEOs, global leaders, and philanthropists from over
80 countries. The Forum was led by the COP28 Presidency of the United
Arab Emirates and held alongside the World Climate Action Summit.
The Forum launched on November 30 with a high-level reception, which
was hosted by the COP28 Presidency and the Sustainable Markets
Initiative, in the presence of His Majesty King Charles III, the
Founder of the Sustainable Markets Initiative. The event highlighted
the mission of the Sustainable Markets Initiative, and echoed The
King's vision for Nature, People and Planet on a global stage. The
reception also highlighted opening remarks from Brian Moynihan, Chair
and CEO of Bank of America, and Chair of the Sustainable Markets
Initiative.
The COP28 Business and Philanthropy Climate Forum shared the private
sector's progress and released its Purpose Statement and aims for
COP29. Read Purpose Statement.
"The Sustainable Markets Initiative, as a private sector led
organisation, has transformed how the global business community
convenes at world events like COP28. Our members, as global CEOs from
a wide range of industries, and finance, are scaling the sustainable
transition and are demonstrating action across their value and supply
chains," said Jennifer Jordan-Saifi, CEO of the Sustainable Markets
Initiative. "As the 'go-to' private sector organisation on
transition, we know it is a business imperative and we must address
climate change now, with speed and results. Our member companies,
with their global reach, ingenuity, and resources, are helping to
bring real world demonstrations of a sustainable transition forward
at scale, supporting a path to a more sustainable future."
Pre-COP28 and COP28 Highlights:
* Terra Carta Seal: 2023 [1] Terra Carta Seal winners were
announced
November 28. The Seal recognises global companies that are
actively leading the charge to create a climate and
Nature-positive future. It is awarded to companies which have
demonstrated the success of a high-impact, large scale
company-wide project, initiative or strategy which aligns with
one
or more of the Sustainable Markets Initiative's ten Terra Carta
Articles. The 2023 Terra Carta Seal had 17 winners, which span
multiple geographies and industries. [2] Press release .
* [3] Terra Carta Design Lab : At the COP28 BPCF, one of the event
sessions focused on supporting sustainable innovation. The
Sustainable Markets Initiative's Terra Carta Design Lab was
highlighted. This global competition, inspired by its guiding
mandate the [1] Terra Carta , invites students to design
high-impact solutions to address climate change. Four design
schools participating in the program include the Dubai Institute
of Design and Innovation, National Institute of Design Ahmedabad,
Rhode Island School of Design, and the Royal College of Art. [4]
Press
release .
* Task Forces: Launched three new Task Forces, [5] Circularity ,
[6] Fusion , and [7] Technology, Media, and Telecommunications .
The Task Forces' help to build foundational and transformative
activities to accelerate the transition.
* [8] Agribusiness Task Force : Launches first-of-its-kind [9]
Blended
Finance framework to make regenerative farming financially viable
for farmers; projects in India, the US and the UK explored to
prove concept. Companies call for 10 policy changes which could
help to unlock a projected $1.2 trillion that regenerative
agriculture can add to the worldwide economy.
* [10] Asset Manager and Asset Owner Task Force : As part of a
wider
collaboration with the Sustainable Markets Initiative's Asset
Manager and Asset Owner Task Force, the Climate Bonds Initiative
mapped the degree of alignment of 13 corporate transition
frameworks and highlighted areas where further work and alignment
is needed. The project addresses the pressing challenge of
navigating through various corporate transition frameworks. The
goal is to create a navigator tool that enables financial
institutions to orientate their corporate portfolios in a way
that
is consistent with those frameworks. Read more at the [11]
Climate
Bonds Initiative webpage.
* [12] Blended Finance Task Force : Along with nine other leading
organisations, the Task Force came together to advocate for
scaling private capital mobilisation with a Call to Action that
launched at COP28. [13] Read more on the UN Environment Programme
Finance Initiative website .
* [14] Energy Transition Task Force :
- Launched Decarbonising Industry How-to Guide
(
https://www.sustainable-markets.org/news/how-to-guide-
on-decarbonising-industry-launched-by-sustainable-markets-initiative-
energy-transition-task-force),
which outlines a roadmap to decarbonising three of the
hardest-to-abate industries – steel,
aluminium, and mining. The guide and the decarbonisation
initiatives that it recommends exemplify
how cross-industry cooperation can result in strong positive
impact and accelerated results.
- Launched Global Grids, Money & Models
(
https://www.sustainable-markets.org/news/public-private-secto
r-collaboration-vital-for-unlocking-renewable-energy-development-in-s
ub-saharan-africa-new-report-fr
om-the-sustainable-markets-initiative-energy-transition-task-force):
Unblocking Investment and
Unlocking Africa's Renewable Energy Future report, which
highlights the profound potential that
investments in electricity grid networks hold for sub-Saharan
Africa. The report provides a
strategic blueprint for government and private sector
engagement in electric grid development,
particularly as transmission projects grow more attractive for
investment.
* [15] Health Systems Task Force :
- Health Working Group
(
https://www.sustainable-markets.org/news/china-council-launches-he...
th-working-group): In early
November launched a Health Working Group in China with the
Sustainable Markets Initiative's China
Council.
- Read the Health Systems Task Force November 29 Press Release
(
https://www.sustainable-markets.org/ne
ws/global-healthcare-leaders-advance-sector-decarbonisation-ahead-of-
cop28):
- Members of the Task Force are in advanced discussions with
energy providers in China and India to
scale renewable power across their supply chains. This is the
first time that companies from
across the global healthcare sector have come together to
pioneer such initiatives in these
countries.
- Recognising the importance of a harmonised method to measure
and report the environmental impact
of medicines and healthcare products, the Task Force worked
with the Pharmaceutical Environment
Group (PEG) through a newly created consortium and NHS
England to support the development of a
sector-wide standard for medicines Life Cycle Assessment
(LCA). The consortium and NHS England
intend to work with the British Standards Institution (BSI)
to reach consensus among the sector's
stakeholder groups including healthcare systems, providers
and professionals, representative
bodies, academics, and patients to establish the standard. An
international measurement framework
is also being developed to calculate the carbon emissions
from different patient care pathways.
- Three new members joined the Health Systems Task Force to
contribute broader sectoral expertise.
* [16] Insurance Task Force :
- Global Risk and Resilience Fellowship Program
(
https://resilientcitiesnetwork.org/the-global-risk-and-resilience...
llowship/) report highlights
the inaugural year of the Fellowship, which paired city leaders
with a deep understanding of urban
resilience challenges, and insurance experts to collaboratively
develop solutions that empower
cities to build a safe, equitable, and sustainable future. Read
more about the initiative (
https://r
esilientcitiesnetwork.org/joint-global-partnership-launched-by-the-su
stainable-markets-initiative-ho
wden-and-resilient-cities-network/).
- Published a report, Insuring a Sustainable Future
(
https://www.sustainable-markets.org/news/sustaina
ble-markets-initiative-insurance-task-force-publishes-roadmap-to-supp
orting-green-innovation), which
explores the critical role the insurance industry is playing in
the growth of clean and emerging
technologies, de-risking investment and enabling recovery post
climate-related disasters.
* [17] Private Equity Task Force : Launched a Private Markets
Decarbonisation Roadmap (PMDR) in collaboration with the
Initiative Climat International and Bain & Company. The PMDR
helps
to support global private markets firms (General Partners or
'GPs') with a common language and approach to speak about
decarbonisation and drive meaningful progress by disclosing their
portfolio's decarbonisation evolution. To access the PMDR, visit
the [18] Bain & Co. webpage. To read the press statement, please
visit the Principles for Responsible Investment [19] webpage .
* [20] Sustainable Building Task Force : Launched a paper on [21]
Decarbonization
in the Built Environment: Addressing Embodied Carbon in
mechanical, electrical and plumbing (MEP) systems. The report
outlines solutions, challenges, and best practices for reducing
embodied carbon in a building's MEP system – a significant, but
often not highlighted, component of a building's overall
emissions.
* [22] Country Engagement : The Sustainable Markets Initiative
established a new regional council in [23] Africa , and its China
Council launched a [24] Health Working Group . The Sustainable
Markets Initiative's Country Engagement team supports three
Country Councils, which focus on supporting private and public
sector engagement and collaboration to build momentum for more
sustainable actions and accelerate the transition in country.
1.
https://www.sustainable-markets.org/terra-carta/
2.
https://www.sustainable-markets.org/news/terre-carta-seals-winner-...
3.
https://www.sustainable-markets.org/tcdl/Terra_Carta_Design_Lab/
4.
https://www.sustainable-markets.org/news/SMI_TerraCartaDesignLab_2...
5.
https://www.sustainable-markets.org/news/sustainable-markets-intia...
e-launches-circularity-task-force-addressing-the-future-of-environmen
tal-management-and-material-repurposing-solutions
6.
https://www.sustainable-markets.org/news/6533713e-ae05-4c94-8545-8...
be3a2a8b
7.
https://www.sustainable-markets.org/news/the-sustainable-markets-i...
iative-launched-a-new-task-force-to-help-drive-transition-in-the-tech
nology-media-and-telecom-sectors/
8.
https://www.sustainable-markets.org/taskforces/agribusiness-task-f...
e/
9.
https://www.sustainable-markets.org/news/the-agribusiness-task-for...
launches-blended-finance-framework-to-make-regenerative-farming-mains
tream
10.
https://www.sustainable-markets.org/taskforces/asset-manager-and-a...
t-owner-taskforce/
11.
https://clicktime.symantec.com/15tSyTKKBBLzCAdrgvKCD?h=eqZnvA...
IE1wWPnAEQwz1RKBEnlzsPrkAUlE8=&u=
https://www.climatebonds.net/transit
ion-finance/mapping
12.
https://www.sustainable-markets.org/taskforces/blended-finance-tas...
orce/
13.
https://www.unepfi.org/industries/investment/scaling-...
mobilization/
14.
https://www.sustainable-markets.org/taskforces/energy-transition-t...
force/
15.
https://www.sustainable-markets.org/taskforces/health-systems-task...
ce/
16.
https://www.sustainable-markets.org/taskforces/insurance-taskforce...
17.
https://www.sustainable-markets.org/taskforces/private-equity/
18.
https://www.bain.com/how-we-help/private-markets-de...
map/
19.
https://www.unpri.org/news-and-press/the-ici-and-the...
ets-initiatives-private-equity-task-force-launch-the-private-markets-
decarbonisation-roadmap-pmdr/11899.article
20.
https://www.sustainable-markets.org/taskforces/sustainable-buildin...
task-force/
21.
https://www.sustainable-markets.org/news/decarbonization-in-the-bu...
-environment-addressing-embodied-carbon-in-mep-systems
22.
https://www.sustainable-markets.org/about-country-engagement/
23.
https://www.sustainable-markets.org/news/the-sustainable-markets-i...
iative-launches-africa-council-at-united-nations-event-in-kenya
24.
https://www.sustainable-markets.org/news/china-council-launches-he...
h-working-group
Notes to editors:
Additional COP28 activities:
RE:TV, a partner to the Sustainable Markets Initiative, had a
significant role at the BPCF as it captured leading stories across
its member platform and demonstrations of how companies are
accelerating the path to low-carbon and net zero solutions.
Sustainable Markets Initiative Showcase: At COP28, the Sustainable
Markets Initiative member companies and partners showcased recent
demonstrations of progress through a digital storytelling series that
highlighted sustainable transition projects, investment, and business
activities across the globe. This showcase was highlighted as a
successful articulation of real action in motion across the globe at
COP28 amongst attendees.
About the Sustainable Markets Initiative
Founded by His Majesty King Charles III in 2020, as Prince of Wales,
the Sustainable Markets Initiative has become the world's 'go-to'
private sector organisation on transition. Launched in 2021, the
Terra Carta serves as the Sustainable Markets Initiative's mandate
with a focus on accelerating positive results for Nature, People and
Planet through real economy action. Read more:
www.sustainable-markets.org
Sustainable Markets Initiative's Terra Carta
His Majesty King Charles III, as Prince of Wales, launched the Terra
Carta at the One Planet Summit in January 2021. The Terra Carta
serves as the mandate for the Sustainable Markets Initiative and
provides a practical roadmap for acceleration towards an ambitious
and sustainable future; one that will harness the power of Nature
combined with the transformative power, innovation, and resources of
the private sector. The Terra Carta is supported by the 56 members of
the Commonwealth, C40 Cities and the United Kingdom's 13 Core Cities.
Photo -
https://mma.prnewswire.com/media/2299261/COP28_Nov30_Rece...
Photo -
https://mma.prnewswire.com/media/2299262/COP28_Press_Rele...
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er-for-cop28-business-and-philanthropy-climate-forum-sustainable-mark
ets-initiative-expands-focus-on-industry-transition-with-global-leade
rs-to-align-industry-finance-and-country-roadmaps-302013314.html
Digital press kit:
http://www.ots.at/pressemappe/PR172765/aom
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