{"id":23887,"date":"2023-12-13T02:03:00","date_gmt":"2023-12-13T02:03:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4292150_AE92150_0"},"modified":"2023-12-13T02:03:00","modified_gmt":"2023-12-13T02:03:00","slug":"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","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=23887","title":{"rendered":"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"},"content":{"rendered":"\n<p><i>Sustainable Markets Initiative&#8217;s Founder, His Majesty King Charles III, opened the <span class=\"xn-money\">COP28<\/span> Business and Philanthropy Climate Forum at reception in&nbsp;Dubai<\/i><\/p>\n<p><i>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<\/i><\/p>\n<p><i>Industry Transition Initiatives across its Task Forces and Country Engagement&nbsp;<\/i><\/p>\n<p><span class=\"xn-location\">DUBAI<\/span>, UAE, <span class=\"xn-chron\">Dec. 13, 2023<\/span> \/PRNewswire\/ &#8212;&nbsp;The <a href=\"https:\/\/www.sustainable-markets.org\/\" target=\"_blank\" rel=\"nofollow noopener\">Sustainable Markets Initiative<\/a>, the Strategic Partner to the <a href=\"https:\/\/www.prnewswire.co.uk\/news-releases\/his-highness-sheikh-mohamed-bin-zayed-al-nahyan-and-his-majesty-king-charles-iii-open-inaugural-business--philanthropy-climate-forum-302003606.html\" target=\"_blank\" rel=\"nofollow noopener\"><span class=\"xn-money\">COP28<\/span> Business and Philanthropy Climate Forum<\/a>&nbsp;(BPCF) helped convene more than a 1,000 CEOs, global leaders, and philanthropists from over 80 countries. The Forum was led by the <span class=\"xn-money\">COP28<\/span> Presidency of the <span class=\"xn-location\">United Arab Emirates<\/span> and held alongside the World Climate Action Summit.<\/p>\n<div id=\"prni_dvprnejpg0ee3left\" dir=\"ltr\" style=\"TEXT-ALIGN: center; WIDTH: 100%\"> <a href=\"https:\/\/mma.prnasia.com\/media2\/2299261\/COP28_Nov30_Reception.jpg?p=medium600\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" id=\"prnejpg0ee3left\" title=\"Photo credit: COP28 Business and Philanthropy Climate Forum and the Sustainable Markets Initiative\" src=\"https:\/\/mma.prnasia.com\/media2\/2299261\/COP28_Nov30_Reception.jpg?p=medium600\" alt=\"Photo credit: COP28 Business and Philanthropy Climate Forum and the Sustainable Markets Initiative\" align=\"middle\" \/><\/a> <br \/> <span>Photo credit: COP28 Business and Philanthropy Climate Forum and the Sustainable Markets Initiative<\/span> <\/div>\n<p>The Forum launched on <span class=\"xn-chron\">November 30<\/span> with a high-level reception, which was hosted by the <span class=\"xn-money\">COP28<\/span> 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&#8217;s vision for Nature, People and Planet on a global stage. The reception also highlighted opening remarks from <span class=\"xn-person\">Brian Moynihan<\/span>, Chair and CEO of Bank of America, and Chair of the Sustainable Markets Initiative.<\/p>\n<p>The <span class=\"xn-money\">COP28<\/span> Business and Philanthropy Climate Forum shared the private sector&#8217;s progress and released its Purpose Statement and aims for <span class=\"xn-money\">COP29<\/span>. <a href=\"https:\/\/bpcforum.org\/wp-content\/uploads\/2023\/11\/COP28.pdf\" target=\"_blank\" rel=\"nofollow noopener\">Read Purpose Statement<\/a>.<\/p>\n<p>&quot;The Sustainable Markets Initiative, as a private sector led organisation, has transformed how the global business community convenes at world events like <span class=\"xn-money\">COP28<\/span>. 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,&quot; said <span class=\"xn-person\">Jennifer Jordan-Saifi<\/span>, CEO of the Sustainable Markets Initiative. &quot;As the &#8216;go-to&#8217; 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.&quot;<\/p>\n<p><b>Pre-<span class=\"xn-money\">COP28<\/span> and <span class=\"xn-money\">COP28<\/span> Highlights: <\/b><\/p>\n<ul type=\"disc\">\n<li><span class=\"xn-person\">Terra Carta Seal<\/span>: 2023&nbsp;<a href=\"https:\/\/www.sustainable-markets.org\/terra-carta\/\" target=\"_blank\" rel=\"nofollow noopener\"><span class=\"xn-person\">Terra Carta Seal<\/span><\/a>&nbsp;winners were announced <span class=\"xn-chron\">November 28<\/span>. The Seal recognises global companies that are actively leading the charge to create a climate and Nature-positive future.&nbsp;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&#8217;s ten Terra Carta Articles. The 2023 Terra Carta Seal had 17 winners, which span multiple geographies and industries. <a href=\"https:\/\/www.sustainable-markets.org\/news\/terre-carta-seals-winner-2023\" target=\"_blank\" rel=\"nofollow noopener\">Press release<\/a>.<\/li>\n<li><a href=\"https:\/\/www.sustainable-markets.org\/tcdl\/Terra_Carta_Design_Lab\/\" target=\"_blank\" rel=\"nofollow noopener\">Terra Carta Design Lab<\/a>: At the <span class=\"xn-money\">COP28<\/span> BPCF, one of the event sessions focused on supporting sustainable innovation. The Sustainable Markets Initiative&#8217;s Terra Carta Design Lab was highlighted. This global competition, inspired by its guiding mandate the&nbsp;<a href=\"https:\/\/www.sustainable-markets.org\/terra-carta\/\" target=\"_blank\" rel=\"nofollow noopener\">Terra Carta<\/a>, 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, <span class=\"xn-org\">Rhode Island School of Design<\/span>, and the Royal College of Art.&nbsp;<a href=\"https:\/\/www.sustainable-markets.org\/news\/SMI_TerraCartaDesignLab_2023\" target=\"_blank\" rel=\"nofollow noopener\">Press release<\/a>.<\/li>\n<li>Task Forces: Launched three new Task Forces, <a href=\"https:\/\/www.sustainable-markets.org\/news\/sustainable-markets-intiative-launches-circularity-task-force-addressing-the-future-of-environmental-management-and-material-repurposing-solutions\" target=\"_blank\" rel=\"nofollow noopener\">Circularity<\/a>, <a href=\"https:\/\/www.sustainable-markets.org\/news\/6533713e-ae05-4c94-8545-875ebe3a2a8b\" target=\"_blank\" rel=\"nofollow noopener\">Fusion<\/a>, and <a href=\"https:\/\/www.sustainable-markets.org\/news\/the-sustainable-markets-initiative-launched-a-new-task-force-to-help-drive-transition-in-the-technology-media-and-telecom-sectors\/\" target=\"_blank\" rel=\"nofollow noopener\">Technology, Media, and Telecommunications<\/a>. The Task Forces&#8217; help to build foundational and transformative activities to accelerate the transition.<\/li>\n<li><a href=\"https:\/\/www.sustainable-markets.org\/taskforces\/agribusiness-task-force\/\" target=\"_blank\" rel=\"nofollow noopener\">Agribusiness Task Force<\/a>: Launches first-of-its-kind <a href=\"https:\/\/www.sustainable-markets.org\/news\/the-agribusiness-task-force-launches-blended-finance-framework-to-make-regenerative-farming-mainstream\" target=\"_blank\" rel=\"nofollow noopener\">Blended Finance framework<\/a>&nbsp;to make regenerative farming financially viable for farmers; projects in <span class=\"xn-location\">India<\/span>, the US and the UK explored to prove concept. Companies&nbsp;call for 10 policy changes which could help to unlock a projected <span class=\"xn-money\">$1.2 trillion<\/span> that regenerative agriculture can add to the worldwide economy.<\/li>\n<li><a href=\"https:\/\/www.sustainable-markets.org\/taskforces\/asset-manager-and-asset-owner-taskforce\/\" target=\"_blank\" rel=\"nofollow noopener\">Asset Manager and Asset Owner Task Force<\/a>: As part of a wider collaboration with the Sustainable Markets Initiative&#8217;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 <a href=\"https:\/\/clicktime.symantec.com\/15tSyTKKBBLzCAdrgvKCD?h=eqZnvAWkChif3GIE1wWPnAEQwz1RKBEnlzsPrkAUlE8=&amp;u=https:\/\/www.climatebonds.net\/transition-finance\/mapping\" target=\"_blank\" rel=\"nofollow noopener\">Climate Bonds Initiative webpage.<\/a><\/li>\n<li><a href=\"https:\/\/www.sustainable-markets.org\/taskforces\/blended-finance-task-force\/\" target=\"_blank\" rel=\"nofollow noopener\">Blended Finance Task Force<\/a>: 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 <span class=\"xn-money\">COP28<\/span>. <a href=\"https:\/\/www.unepfi.org\/industries\/investment\/scaling-private-capital-mobilization\/\" target=\"_blank\" rel=\"nofollow noopener\">Read more on the UN Environment Programme Finance Initiative website<\/a>.<\/li>\n<li><a href=\"https:\/\/www.sustainable-markets.org\/taskforces\/energy-transition-taskforce\/\" target=\"_blank\" rel=\"nofollow noopener\">Energy Transition Task Force<\/a>:\n<ul type=\"disc\">\n<li>Launched&nbsp;<a href=\"https:\/\/www.sustainable-markets.org\/news\/how-to-guide-on-decarbonising-industry-launched-by-sustainable-markets-initiative-energy-transition-task-force\" target=\"_blank\" rel=\"nofollow noopener\">Decarbonising Industry How-to Guide<\/a>, which outlines a roadmap to decarbonising three of the hardest-to-abate industries \u2013 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.<\/li>\n<li>Launched <a href=\"https:\/\/www.sustainable-markets.org\/news\/public-private-sector-collaboration-vital-for-unlocking-renewable-energy-development-in-sub-saharan-africa-new-report-from-the-sustainable-markets-initiative-energy-transition-task-force\" target=\"_blank\" rel=\"nofollow noopener\">Global Grids, Money &amp; Models<\/a>: Unblocking Investment and Unlocking Africa&#8217;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.<\/li>\n<\/ul>\n<\/li>\n<li><a href=\"https:\/\/www.sustainable-markets.org\/taskforces\/health-systems-taskforce\/\" target=\"_blank\" rel=\"nofollow noopener\">Health Systems Task Force<\/a>:\n<ul type=\"disc\">\n<li><a href=\"https:\/\/www.sustainable-markets.org\/news\/china-council-launches-health-working-group\" target=\"_blank\" rel=\"nofollow noopener\">Health Working Group<\/a>: In early November launched a Health Working Group in <span class=\"xn-location\">China<\/span> with the Sustainable Markets Initiative&#8217;s China Council.<\/li>\n<li>Read the Health Systems Task Force <span class=\"xn-chron\">November 29<\/span> <a href=\"https:\/\/www.sustainable-markets.org\/news\/global-healthcare-leaders-advance-sector-decarbonisation-ahead-of-cop28\" target=\"_blank\" rel=\"nofollow noopener\">Press Release<\/a>:&nbsp;\n<ul type=\"disc\">\n<li>Members of the Task Force are in advanced discussions with energy providers in <span class=\"xn-location\">China<\/span> and <span class=\"xn-location\">India<\/span> 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.<\/li>\n<li>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&#8217;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.<\/li>\n<li>Three new members joined the Health Systems Task Force to contribute broader&nbsp;sectoral expertise.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li><a href=\"https:\/\/www.sustainable-markets.org\/taskforces\/insurance-taskforce\/\" target=\"_blank\" rel=\"nofollow noopener\">Insurance Task Force<\/a>:\n<ul type=\"disc\">\n<li><a href=\"https:\/\/resilientcitiesnetwork.org\/the-global-risk-and-resilience-fellowship\/\" target=\"_blank\" rel=\"nofollow noopener\">Global Risk and Resilience Fellowship Program<\/a>&nbsp;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 <a href=\"https:\/\/resilientcitiesnetwork.org\/joint-global-partnership-launched-by-the-sustainable-markets-initiative-howden-and-resilient-cities-network\/\" target=\"_blank\" rel=\"nofollow noopener\">initiative<\/a>.<\/li>\n<li>Published a report, <a href=\"https:\/\/www.sustainable-markets.org\/news\/sustainable-markets-initiative-insurance-task-force-publishes-roadmap-to-supporting-green-innovation\" target=\"_blank\" rel=\"nofollow noopener\">Insuring a Sustainable Future<\/a>, 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.&nbsp; &nbsp;<\/li>\n<\/ul>\n<\/li>\n<li><a href=\"https:\/\/www.sustainable-markets.org\/taskforces\/private-equity\/\" target=\"_blank\" rel=\"nofollow noopener\">Private Equity Task Force<\/a>:&nbsp;Launched a Private Markets Decarbonisation Roadmap (PMDR) in collaboration with the Initiative Climat International and Bain &amp; Company. The PMDR helps to support global private markets firms (General Partners or &#8216;GPs&#8217;) with a common language and approach to speak about decarbonisation and drive meaningful progress by disclosing their portfolio&#8217;s decarbonisation evolution. To access the PMDR, visit the&nbsp;<a href=\"https:\/\/www.bain.com\/how-we-help\/private-markets-decarbonization-roadmap\/\" target=\"_blank\" rel=\"nofollow noopener\">Bain &amp; Co. webpage.&nbsp;<\/a>To read the press statement, please visit the&nbsp;Principles for Responsible Investment <a href=\"https:\/\/www.unpri.org\/news-and-press\/the-ici-and-the-sustainable-markets-initiatives-private-equity-task-force-launch-the-private-markets-decarbonisation-roadmap-pmdr\/11899.article\" target=\"_blank\" rel=\"nofollow noopener\">webpage<\/a>.<\/li>\n<li><a href=\"https:\/\/www.sustainable-markets.org\/taskforces\/sustainable-buildings-task-force\/\" target=\"_blank\" rel=\"nofollow noopener\">Sustainable Building Task Force<\/a>: Launched a paper on <a href=\"https:\/\/www.sustainable-markets.org\/news\/decarbonization-in-the-built-environment-addressing-embodied-carbon-in-mep-systems\" target=\"_blank\" rel=\"nofollow noopener\">Decarbonization in the Built<\/a>&nbsp;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&#8217;s MEP system \u2013 a significant, but often not highlighted, component of a building&#8217;s overall emissions.<\/li>\n<li><a href=\"https:\/\/www.sustainable-markets.org\/about-country-engagement\/\" target=\"_blank\" rel=\"nofollow noopener\">Country Engagement<\/a>: The Sustainable Markets Initiative established a new regional council in <a href=\"https:\/\/www.sustainable-markets.org\/news\/the-sustainable-markets-initiative-launches-africa-council-at-united-nations-event-in-kenya\" target=\"_blank\" rel=\"nofollow noopener\"><span class=\"xn-location\">Africa<\/span><\/a>, and its China Council launched a <a href=\"https:\/\/www.sustainable-markets.org\/news\/china-council-launches-health-working-group\" target=\"_blank\" rel=\"nofollow noopener\">Health Working Group<\/a>. The Sustainable Markets Initiative&#8217;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.<\/li>\n<\/ul>\n<p><b><u>Notes to editors: <\/u><\/b><\/p>\n<p><b>Additional <span class=\"xn-money\">COP28<\/span> activities<\/b>:<\/p>\n<p><a href=\"https:\/\/www.re-tv.org\/sustainable-markets-initiative\" target=\"_blank\" rel=\"nofollow noopener\">RE:TV<\/a>, 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.&nbsp;<\/p>\n<p>Sustainable Markets Initiative Showcase: At <span class=\"xn-money\">COP28<\/span>, 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 <span class=\"xn-money\">COP28<\/span> amongst attendees.<\/p>\n<p><b>About the Sustainable Markets Initiative<\/b><\/p>\n<p>Founded by His Majesty King Charles III in 2020, as Prince of Wales, the Sustainable Markets Initiative has become the world&#8217;s &#8216;go-to&#8217; private sector organisation on transition.\u202f Launched in 2021, the <u><a href=\"https:\/\/www.sustainable-markets.org\/terra-carta\/\" target=\"_blank\" rel=\"nofollow noopener\">Terra Carta<\/a><\/u> serves as the Sustainable Markets Initiative&#8217;s mandate with a focus on accelerating positive results for Nature, People and Planet through real economy action.\u202f Read more: <u><a href=\"http:\/\/www.sustainable-markets.org\/\" target=\"_blank\" rel=\"nofollow noopener\">www.sustainable-markets.org<\/a><\/u>&nbsp;&nbsp;<\/p>\n<p><i>Sustainable Markets Initiative&#8217;s <\/i><i><a href=\"https:\/\/www.sustainable-markets.org\/terra-carta\/\" target=\"_blank\" rel=\"nofollow noopener\">Terra Carta<\/a><\/i>&nbsp;&nbsp;<\/p>\n<p>His Majesty King Charles III, as Prince of Wales, launched the Terra Carta at the One Planet Summit in January 2021.\u202fThe 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 <span class=\"xn-location\">United Kingdom&#8217;s<\/span> 13 Core Cities.&nbsp;<\/p>\n<div id=\"prni_dvprnejpgf586left\" dir=\"ltr\" style=\"TEXT-ALIGN: center; WIDTH: 100%\"> <a href=\"https:\/\/mma.prnasia.com\/media2\/2299262\/COP28_Press_Release_12122023.jpg?p=medium600\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" id=\"prnejpgf586left\" title=\"Photo credit: COP28 Business and Philanthropy Climate Forum\" src=\"https:\/\/mma.prnasia.com\/media2\/2299262\/COP28_Press_Release_12122023.jpg?p=medium600\" alt=\"Photo credit: COP28 Business and Philanthropy Climate Forum\" align=\"middle\" \/><\/a> <br \/> <span>Photo credit: COP28 Business and Philanthropy Climate Forum<\/span> <\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sustainable Markets Initiative&#8217;s Founder, His Majesty King Charles III, opened the COP28 Business and Philanthropy Climate Forum at reception in&nbsp;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 [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-23887","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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