Sustainable Markets Initiative

Sustainable Markets Initiative
Founder	King Charles III

The Sustainable Markets Initiative was launched by Prince Charles at the World Economic Forum 2020 Annual Meeting in Davos with a mission to kickstart bold and imaginative action across the next decade. The SMI aims to lead and accelerate the world's transition to a sustainable future by engaging and challenging public, private and philanthropic sectors to bring economic value in harmony with social and environmental sustainability. Prince Charles announced he was gathering a global ‘coalition of the willing’ who share the vision around the need to accelerate global progress towards a sustainable future.

Brian Moynihan, Co-Chair of the SMI and Chairman and Chief Executive of Bank of America, said:

This commitment to net-zero by the SMI financial services leaders is an example of the leadership that the CEOs of SMI companies can generate by working together. We will work closely with CEOs from other industry groups and others to continue to drive the other SMI priorities established by His Royal Highness in the Terra Carta earlier this year.

Carefully targeted investment

In 2021, Prince Charles brought private sector leaders to the G7 Summit, for the first time ever, to discuss climate action. He hosted world and business leaders at the G20 and COP26 meetings to encourage public and private sector collaboration to unlock trillions of dollars to help transition to a sustainable economy.

To support these discussions, the SMI announced a series of initiatives that aim to scale the flow of investment from the private sector and to encourage needed action from governments to enable investment flows across all industries and across all countries.

Prince Charles has long argued that unprecedented levels of carefully targeted investment are needed to tackle climate change and to protect Nature. Those initiatives aim to unlock access to the annual $4 trillion dollars of investment needed to keep the 2015 1.5C goal alive.

NCIA

The Natural Capital Investment Alliance (NCIA) was created by Prince Charles through his Sustainable Markets Initiative, with Climate Asset Management, Lombard Odier and Mirova as founding members.

In 2021, at the "One Planet Summit", Prince Charles announced the NCIA as a vehicle to delivering on the Terra Carta's ambitions. At COP26, the NCIA announced a commitment to mobilise at least USD 10 Billion in investment into Natural Capital assets in 2022, with an ambition to scale that investment in the coming years.

SPSI

The Scaling Private Sector Investment (SPSI) Initiative is an initiative to understand the barriers to swift financing and execution of sustainable development projects, and contribute to building leverageable sustainable financing solutions and ecosystems.

This SPSI initiative was commissioned by SMI, with contributions from Deloitte, EY, KPMG, and PwC, with support from BCG.

Using the SMI’s convening power, the goal of the SPSI Initiative is to find new ways to harness private capital and bring together critical stakeholders to work towards the standardisation that is essential to scaling private capital flows. Through the SPSI project, the SMI will contribute to a financial system that can accelerate progress towards a global sustainable future.

Terra Carta

In sustainable markets, the economy operates in favour of people and planet while contributing to growth and prosperity. The Terra Carta is the charter that provides a roadmap to 2030 for businesses to move towards sustainable markets; one that will harness the power of Nature combined with the transformative power, innovation and resources of the private sector.

Under the mandate of the Terra Carta, the Sustainable Markets Initiative will encourage three major market transformations:

1. A dramatic shift in corporate strategies and operations

1. A reformed global financial system

1. An enabling environment that attracts investment and incentivises action

Terra Carta Action Forum

On 24 August 2022, to mark 75 days until COP27, Prince Charles' Sustainable Markets Initiative announced the Terra Carta Action Forum two-day event will coincide with the World Leaders Summit across the opening days of the annual Conference of the Parties in Sharm el Sheikh, Egypt from 7-18 November 2022. This follows the inaugural Terra Carta Action Forum held at last year’s COP26 in Glasgow.

Task Forces

The SMI Task Forces are comprised of private sector CEOs. The purpose of Task Forces is to drive collective action towards a sustainable future. While each Task Force focuses on a different sector, they are consistent in structure. Each Task Force and its members set priorities and oversee progress made by its Working Groups.

A Task Force's Working Group is comprised of individuals contributing their time and expertise towards progressing the objectives set by the CEOs. A Working Group’s membership typically consists of senior decision makers and supporting staff from the CEOs' respective companies.

The SMI currently has sixteen Task Forces spanning multiple industries and financial services.

 

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