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    Home » Latest News » SMI Unveils Commonwealth-Wide Tools for Sustainable Development
    His Majesty King Charles III, founder of the Sustainable Markets Initiative (SMI) when he was The Prince of Wales, during a roundtable organised by the SMI
    Sustainability

    SMI Unveils Commonwealth-Wide Tools for Sustainable Development

    Graham ParkerBy Graham Parker25/10/2024Updated:25/10/2024

    The Sustainable Markets Initiative (SMI), led by global leaders in sustainability and spearheaded by His Majesty King Charles III, has unveiled a series of innovative programmes to support Commonwealth nations in tackling climate change and biodiversity loss. As part of the Commonwealth Heads of Government Meeting (CHOGM) Business Forum, the SMI introduced several initiatives, including a new Pacific Hub in Australia, the launch of a Marine Mangrove Sanctuary in Samoa, and tools to strengthen public-private climate action partnerships across Commonwealth countries.

    Pacific Hub: Uniting Industry and Climate Leaders in the Commonwealth

    In an ambitious move to bring industry, finance, and national climate efforts together, the SMI has established its Pacific Hub, based in Australia. This new regional hub will foster collaboration between SMI’s global CEOs and regional climate leaders, aiming to drive measurable progress on climate and biodiversity goals. By promoting closer alignment between the private sector and governmental strategies, the Pacific Hub will support Nationally Determined Contributions (NDCs) and region-wide biodiversity targets.

    Jennifer Jordan-Saifi M.V.O., CEO of the Sustainable Markets Initiative, shared her perspective: “Bringing our efforts to the Pacific region is a profound honour.” By working alongside Pacific communities, industry leaders, and policymakers, we’re driving tangible, scalable actions for a sustainable future. The Pacific Hub will play a key role in helping governments and industry stakeholders align on pathways to environmental stewardship and economic resilience.”

    Marine Mangrove Sanctuary: A Step Towards Ecosystem Restoration and Cultural Preservation

    In collaboration with Rotary International and SpaceX, the SMI has launched the Marine Mangrove Sanctuary in Nono’a Saleimoa, Samoa. This initiative aims to restore the region’s vital mangrove ecosystems, which play a critical role in mitigating sea-level rise, enhancing biodiversity, and preserving cultural heritage. Through the integration of Starlink technology, the sanctuary will have real-time data monitoring capabilities, tracking mangrove restoration progress, seedling growth, and other key metrics.

    Dr. Hubert Danso, Co-Chair of the SMI Africa Council, commented on the initiative’s broader impact: “Protecting natural capital assets like mangroves is crucial for the future of both local communities and global environmental goals. The Marine Mangrove Sanctuary exemplifies how ecosystem restoration can simultaneously address climate risks, benefit local populations, and preserve heritage.”

    Government Training and Climate Investment Accelerator

    Expanding its commitment to sustainable public-private partnerships, the SMI has extended its Government Training Programme to all Commonwealth nations. This programme offers government officials specialized training in climate-based project planning, facilitating the development of Nationally Determined Contributions (NDCs) and other climate-related initiatives. So far, over 800 participants from more than 85 countries have benefitted from this programme.

    To further boost the region’s capacity for climate finance, the SMI has also launched its Impact Accelerator, designed to prepare governments with investment-ready projects and high-impact industry partnerships. A central recommendation of this programme is the creation of High-Level Climate Investment Authorities (HCIA) within governments to enhance coordination with private sector stakeholders, streamlining capital mobilisation for sustainable projects.

    Nature Risk Tool: Empowering Commonwealth Nations to Manage Environmental Risks

    Developed by SMI and AECOM, the Nature Risk Tool is now accessible to Commonwealth member states, offering them an advanced method to assess environmental impacts in infrastructure development and urban planning. Powered by datasets from the Taskforce for Nature-related Financial Disclosures (TNFD), this tool enables governments and investors to examine potential environmental risks and address biodiversity loss before project approval, supporting sustainable infrastructure across the Commonwealth.

    A Future Built on Sustainable Partnerships

    These newly launched initiatives underline SMI’s commitment to accelerating climate action, aligning private investment with sustainable goals, and fostering meaningful partnerships. The ongoing efforts by SMI and its partners will empower Commonwealth nations to achieve their climate and biodiversity goals, positioning sustainability at the heart of economic growth and community well-being.

    Jordan-Saifi concluded, “By working together across nations, industries, and communities, we’re creating a future that is not only sustainable but is aligned with the needs of the next generation. Through the Pacific Hub, Marine Mangrove Sanctuary, and our suite of tools and training programmes, we’re driving progress toward a greener, more resilient Commonwealth.”

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    Biodiversity climate action Commonwealth government training mangrove restoration Pacific Hub sustainable finance Sustainable Markets Initiative
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    Graham Parker
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    Graham Parker, a seasoned journalist with a keen eye for detail, brings a wealth of experience to UAVA. Known for his straightforward approach to reporting, Graham delivers news with clarity and precision, making complex topics accessible to all.

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