PRIVATE SECTOR PURSUIT OF A SUSTAINABLE FUTURE: THE GROWTH STORY OF OUR TIME

Sustainable Markets Initiative 2023 Impact Report highlights delivery, engagement, and growth as companies put Nature, People and Planet at the heart of global value creation

LONDON, March 14, 2024 /PRNewswire/ -- Demonstrating the important role the private sector plays in driving a more sustainable economy, the Sustainable Markets Initiative today published its 2023 Impact Report, The Growth Story of Our Time.

The Report highlights the organisation's continued growth, projects and initiatives through industry and finance Task Forces, Regional and Country Councils and engagement on a world stage, including as the strategic partner to the Business and Philanthropy Climate Forum, the first private sector forum to be included in the official COP Presidency Programme (COP28). https://www.sustainable-markets.org/news/as-strategic-partner-for-cop28-business-and-philanthropy-climate-forum-sustainable-markets-initiative-expands-focus-on-industry-transition-with-global-leaders-to-align-industry-finance-and-country-roadmaps

Brian Moynihan, Chair and CEO of Bank of America, and Chair of the Sustainable Markets Initiative said:

"The private sector has the capital, the talent, and the ingenuity to drive a more sustainable business infrastructure. The Sustainable Markets Initiative is working with companies of all sizes and industries to help bring clean technologies to market, deploy capital to scale innovation, and address transparency. We accelerated progress through cross-Task Force collaboration, helping Sustainable Markets Initiative CEOs develop solutions and scale not achievable by one industry alone. This past year also showed the private sector, and the Sustainable Markets Initiative are equal partners with the public sector and governments at global gatherings focused on these important issues, demonstrating our value in accelerating sustainability outcomes and related systems changes."

Jennifer Jordan-Saifi, CEO of the Sustainable Markets Initiative said: 

"The private sector has emerged as the vanguard of the new era – one where profitability and the global public good are not mutually exclusive. Today's narrative is one of private sector diplomacy, moral courage, and relentless determination. Across industries, finance and countries our CEOs are embracing their role as catalysts, driving a seismic shift towards a sustainable future – one that puts Nature, People and Planet at the heart of value creation."

The report reflects the vision of our Founder, His Majesty King Charles III, who launched the Sustainable Markets Initiative in 2020 when he was the Prince of Wales. 

The 2023 Impact Report can be accessed on the Sustainable Markets Initiative website at www.sustainable-markets.org, Impact Report tab.  

Note to Editors

Key 2023 Achievements

• Aligning Industry and Finance.  The Sustainable Markets Initiative drives accelerated transition through its 22 industry and finance Task Forces.  In 2023, five new Task Forces were created including: Blended Finance, Circularity, Fusion, Legal, and Technology, Media, and Telecom.
• Countries in Focus.  The aim of the Sustainable Markets Initiative's Regional and Country Councils are to encourage collective and scalable action by business and investment in support Nationally Determined Contributions. In 2023, the Sustainable Markets Initiative launched its Africa Council supporting sustainability efforts on the continent. The launch of the Council in Nairobi, Kenya took place at the United Nations Office at Nairobi, alongside His Majesty's State Visit to Kenya in November 2023, and it brought together global, African and Kenya private sector CEOs, civil society, alongside United Nations agency and Multilateral Development Bank representatives.
• Sustainability in Space. His Majesty King Charles III held a reception in June 2023 to launch the Sustainable Markets Initiative's Astra Carta which provides a roadmap for private sector leadership on sustainability in space.  Like the Terra Carta, the artwork of the Astra Carta Seal was designed by Sir Jony Ive.
• Recognizing Leadership.  The Sustainable Markets Initiative's 2023 Terra Carta Seal Awards recognized global companies that are actively leading the charge to create a climate and Nature-positive future. With over 80 companies awarded to date, in 2023 17 companies were awarded the Terra Carta Seal. Winners were selected by a panel of global experts from the public, private, and philanthropic sectors.
• Designing for Sustainability.  Through student-led, high-impact ideas, the Sustainable Markets Initiative expanded its Terra Carta Design Lab, partnering four design schools; Dubai Institute of Design and Innovation (UAE), National Institute of Design Ahmedabad (India), Rhode Island School of Design (USA) and the Royal College of Art (UK). The Terra Carta Design Lab is in partnership with the Royal College of Art and was launched by His Majesty King Charles III, when he was the Prince of Wales, and Sir Jony Ive in 2021.  

Sustainable Markets Initiative

Founded by His Majesty King Charles III in 2020, as the 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.  Find out more: www.sustainable-markets.org.

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