II15 - The Future of ESG Reporting and Governance for Businesses on Islands ???
Island Innovation
Consultancy services specialised in sustainable development for islands. CEO James Ellsmoor.
How well are businesses adapting to a changing world? A world where success is no longer measured by profits alone??On the first day of the?Island Finance Forum, expert speakers discussed what governance and reporting structures must be considered by organisations to implement effective and compliant ESG initiatives. Here are some highlights from IFF2023:
1/ ESG demands an approach to value creation based on?3 pillars of sustainability.
2/ Building resilience has to be a multifaceted approach and?cooperation between the private sector and public institutions?is just as important in resolving the issues we currently encounter and achieving the ESG goals.
3/ Organizations need to be able to understand the importance of?integrating ESG criteria into reporting, such as financial reporting on an annual basis,?as well as into government structures.
4/ With a focus on ESG and Net Zero, companies like?PwC in the Caribbean?are increasingly?supporting clients, stakeholders & businesses to adopt more sustainable practices and strategies?while also leveraging its?global expertise and resources?to make positive impacts.
This week's highlights
Remote island in Chile shares lessons on sustainability
Before this spring, third-year law student Mischa?l Cetoute said he had never considered taking a walk barefoot in the rainforest. But when Cetoute signed up for a class on coastal management that sent him to an island off the coast of Chile, he recognized he was in for an adventure.
Cetoute and Feltz were also fascinated by Chile’s leadership in environmental protection, including its network of preserves and national parks that make up more than a fifth of Chile′s land area and 41 percent of the nation’s territorial waters.
How One Small African Island Is Setting the Standard for Sustainable Development
Príncipe’s regional government is working with the UN to make the island “a global reference of biodiversity conservation” by 2030, although the UN admits that the country’s institutional capacity remains limited.
So HBD is countering with a “Natural Dividend,” an initiative to turn abstract benefits like conservation into tangible benefits for the people. It will compensate Príncipe’s residents for rewilding their land, for example, or for choosing to preserve a richer diversity of trees at the expense of agricultural profit.
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Upcoming Island Innovation events
Making Waves: Driving Investment in the Blue Economy in Portugal and Macaronesia
Virtual event:?On May 3rd, experts from finance, policy, and industry will share their knowledge & experiences on how Portugal and the islands are leveraging the blue economy as a driver of economic growth.
Blue Economy Investment Forum by Island Innovation
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Thank you for reading! See you next week! ???