SMI Quarterly Newsletter – 27 April 2021
April 2021 Newsletter
The Sustainable Markets Initiative (SMI), and the 10-point action plan, was launched by HRH The Prince of Wales in January 2020. Shortly thereafter, the world drastically changed with the Covid-19 pandemic further highlighting we can no longer continue to exist as we have and the pace and scale at which we have been progressing needs to accelerate at an unprecedented level.
As the world continues to move towards a new way of living, with renewed hope that there is light at the end of the tunnel, work at the SMI continues to help accelerate the world's transition to a sustainable future by putting Nature, People and Planet at the heart of global value creation.
In January 2021 HRH The Prince of Wales unveiled the Terra Carta, the guiding mandate of the SMI for the next decade. This was a landmark moment for the SMI and for organizations around the world providing an accelerated roadmap for a sustainable future; one that will harness the power of Nature combined with the transformative power, innovation and resources of the private sector. To-date we have had over 250 organizations representing the private sector, professional organizations and civil society show their support and just last month Athens, Greece was the first city to sign. HRH continues to call on leaders around the world to publicly support the Terra Carta.
Since the SMI launched in early 2020, with a focus on industry and sector acceleration, 24 Roundtables have been held, 11 Taskforces created, and an Indian Country Council formed. A network of Chief Sustainability Officers was created, the S30, who collaborate and share experiences in driving value from sustainability. We have been working with pilot countries to align key transition projects with investment and the RE:TV platform launched to spotlight the solutions that are possible with over 40 films receiving over 2 million views across all channels including social media.
This SMI Newsletter has been created to highlight the latest news and information from teams across the SMI.
Thank you for your support over the past year and we look forward to continuing to work together over the months to come to bring the vision of the Terra Carta to action.
At the start of this new year, following over 50 years of campaigning for the environment, HRH The Prince of Wales announced the Terra Carta.
The charter puts sustainability at the heart of the private sector and provides a roadmap to 2030 for businesses to move towards an ambitious and sustainable future. The Terra Carta will serve as the guiding mandate for the SMI and over the next ten years and will be updated and reported on annually by the SMI in order to reflect the rapid pace of change and continuous progress being achieved around the world.
The full Terra Carta can be viewed here
HRH is calling on global CEOs to support the Terra Carta and play their part in making Nature the engine of our economy. To date, over 250 companies have lent their support. You can become a public supporter of the Terra Carta by contacting the SMI secretariat at firstname.lastname@example.org
Resilient Water Accelarator
To celebrate World Water Day on 22nd March, the SMI launched the Resilient Water Accelerator, which aims to reach 50 million people in water-stressed areas with reliable and sustainable water sources by 2030. This will mean people having access to essential and dependable water services that will protect them in the face of future threats such as disease or the impact of climate change.
The launch of this initiative follows a pledge at the Sustainable Markets Initiative’s Roundtable on Water in London, at WaterAid’s Water & Climate Summit, to work towards boosting available finance for climate-resilient water programmes. Over the last year, the Sustainable Markets Initiatives’ Water & Climate Taskforce has been working to turn this pledge into a reality.
Financial Services Task Force
At HRH’s invitation, executives from a number of the world’s largest banks came together in February as members of the SMI Financial Services Task Force (FSTF) to work on meaningful and actionable plans to help accelerate the world’s transition to a sustainable future.
The financial services industry plays an important role in this transition to a net-zero economy. Recognising this, FSTF member organisations are committed to mobilising finance, and working with customers to support their transition.
In coordination with other SMI Task Forces, the FSTF will focus its attention on net-zero carbon emissions, accelerating investment into sustainable infrastructure and climate solutions, ahead of the 26th UN Climate Change Conference of the Parties (COP26) in November 2021.
Events and Engagements
Nature at the Heart of a Circular Bioeconomy digital forum hosted by CIFOR-ICRAF
In March HRH addressed the Nature at the Heart of a Circular Bioeconomy digital forum hosted by CIFOR-ICRAF.
HRH discussed how the world should seize the opportunity provided by the global economic slowdown to adopt a renewable, regenerative and inclusive paradigm that supports biodiverse and resilient ecosystems.