With a desire to ensure sustainability for future generations, and in response to the increasing threats posed by climate change and biodiversity loss, HRH The Prince of Wales and the World Economic Forum have launched the ‘Building Sustainable Markets Initiative’ guided by HRH’s Sustainable Markets Council.
Sustainable Markets are designed with the intent to ensure the economy operates in favour of people and planet while contributing to growth and prosperity. A Sustainable Market is, therefore, a profitable marketplace that generates long-term value through the balanced integration of natural, social and financial capital.
Recognizing the myriad of financing and economic initiatives, sustainable markets uniquely drive system-level change underscored by consumer-driven demand, innovation for sustainable alternatives, aligned incentives, regulation as well as leadership by the private sector.
In addition to the increasing demand for sustainability from investors and consumers, three market transitions underpin the transformation to sustainable markets:
• A dramatic shift in corporate business models
• An aligned, incentivized and mobilized financial system
• An enabling environment that attracts investment and incentivizes action