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

_Sustainable Markets Initiatives 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 Kings 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 sectors 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 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 Initiatives ten Terra Carta Articles. The 2023 Terra Carta Seal had 17 winners, which span multiple geographies and industries. Press release.
* Terra Carta Design Lab: At the COP28 BPCF, one of the event sessions focused on supporting sustainable innovation. The Sustainable Markets Initiatives Terra Carta Design Lab was highlighted. This global competition, inspired by its guiding mandate the 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. Press release.
* Task Forces: Launched three new Task Forces, Circularity, Fusion, and Technology, Media, and Telecommunications. The Task Forces help to build foundational and transformative activities to accelerate the transition.
* Agribusiness Task Force: Launches first-of-its-kind 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.
* Asset Manager and Asset Owner Task Force: As part of a wider collaboration with the Sustainable Markets Initiatives 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 Climate Bonds Initiative webpage.
* 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. Read more on the UN Environment Programme Finance Initiative website.
* 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-sub-saharan-africa-new-report-fr   om-the-sustainable-markets-initiative-energy-transition-task-force): Unblocking Investment and   Unlocking Africas 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.

* Health Systems Task Force:- Health Working Group (https://www.sustainable-markets.org/news/china-council-launches-health-working-group): In early November launched a Health Working Group in China with the Sustainable Markets Initiatives China

Contact:
media@sustainable-markets.org,
1.704.604.8825 // General or non-media enquiries: info@sustainable-markets.org

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS. www.ots.at
© Copyright APA-OTS Originaltext-Service GmbH und der jeweilige Aussender