Terra Carta Seal: Prince of Wales unveils new sustainable business award
Sustainable Markets Initiative set to hand out award annually to companies with robust net zero plans that are demonstrating sustainability leadership in their field
The Prince of Wales’ Sustainable Markets Initiative (SMI) has today launched a new award that will be handed out annually to companies demonstrating best practice on sustainability.
Firms from all sectors and countries who lead in the pursuit of sustainable business models within their field and have published credible, science-based roadmaps for reaching net zero emissions by mid-century or sooner will be eligible for the new Terra Carta Seal, according to an update from the group yesterday on the sidelines of the COP26 Climate Summit.
AstraZeneca, Bank of America, PepsiCo, Unilever, L’Oreal, Natura & CO, Orsted, Salesforce, and Tesco are among a wave of 45 firms that have been awarded the inaugural 2021 Terra Carta Seal, the SMI confirmed.
Announcing the new initiative, the Prince of Wales said the Terra Carta Seal would recognise companies that had made a “serious commitment” to a future that puts “people, planet, and nature” at the heart of the economy.
“We all need to make changes if we are to preserve the planet for our children and grandchildren and these businesses have pledged to make it easier for us all to do so,” the Prince said.
All of the companies included on an index of the world’s top 100 most sustainable companies produced by Canadian media company Corporate Knights were invited to apply for the award, as were active members of the SMI, according to the update.
BT Group, Credit Suisse, Siemens Energy, IBM Corporation, HSBC Holdings, and Amazon are also among the first batch of firms to clinch the accolade.
The Terra Carta Seal has been launched nearly two years after the Prince of Wales launched the SMI, and less than a year after the group published a roadmap for businesses to transition to sustainable business models by 2030, dubbed the Terra Carta.
