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Press release
28 Nov 2023
|
London, GB
EY awarded Sustainable Markets Initiative’s 2023 Terra Carta Seal
- EY is one of 17 global companies to have been awarded the Sustainable Markets Initiative’s 2023 Terra Carta Seal
- The EY organization has been recognized for promoting long-term value creation and collaboration with clients, international bodies and likeminded organizations to drive transformation in sustainability reporting
- Designed by Sir Jony Ive, the Terra Carta Seal embodies the vision and ambition of His Majesty King Charles III and the Terra Carta
The Sustainable Markets Initiative today announces that the EY organization has been awarded its 2023 Terra Carta Seal. The Seal recognizes global companies that are actively leading the charge to create a climate and nature-positive future.
The Terra Carta Seal is awarded to companies that have demonstrated the success of a high-impact, large-scale, company-wide project, initiative or strategy that aligns with one or more of the Sustainable Markets Initiative’s 10 Terra Carta Articles. The Articles underpin the Terra Carta, the Sustainable Markets Initiative’s guiding mandate that provides a road map and framework to accelerate the transition to an ambitious and sustainable future, placing ‘”Nature,” “People” and “Planet” at the heart of global value creation.
The EY organization is recognized for its ability to collaborate with clients, international bodies, business leaders and other like-minded organizations to achieve collective goals beyond the reach of any single entity.
The EY organization was an early mover, collaborating with the Coalition for Inclusive Capitalism and 30 global companies representing a workforce of 20m people throughout the investment value chain and US$30t of assets under management to demonstrate that organizations are more likely to create sustainable long-term value, including societal impact, by improving their ability to identify, measure and communicate this value. The project produced a long-term value framework, along with associated metrics, to define and measure long-term value, used by EY professionals and others today to tell a strategic, holistic story on the value they create for all stakeholders.
The EY organization also worked with its Big Four colleagues and Bank of America as part of the World Economic Forum International Business Council’s (WEF-IBC) Stakeholder Metrics Initiative, introducing a curated set of metrics, drawn from existing standards, to allow comparability and consistency across four foundational pillars: “Planet,” “People,” “Prosperity” and “Principles of governance”. More than 200 global businesses across industries have committed to disclosing these metrics in their annual or sustainability reports.
This effort has led to several productive private sector engagements and offers of support for the International Sustainability Standards Board (ISSB), established at the United Nations Conference of the Parties in 2021 (COP26), in the quest to establish a global baseline for sustainability reporting.
Beyond helping transform how businesses approach sustainability reporting, this work has significantly influenced EY teams strategy. This includes expanding disclosures, fortifying the EY Global Non-Financial Reporting Hub; launching an integrated annual Value Realized Report , while broadening its environmental, social and governance (ESG) service offerings for clients.
Today, the EY organization remains dedicated to enhancing transparency and accountability. The commitment extends to driving further convergence and optimization of non-financial reporting standards through collaborations with standard setters, international institutions and helping clients through their journey.
Carmine Di Sibio, EY Global Chairman and CEO, said:
“As the EY organization proudly receives the Terra Carta Seal, it symbolizes a significant milestone in the EY journey towards sustainable and inclusive business practices. This recognition underscores an unwavering commitment to measuring what matters, increasing transparency and creating long-term value for EY people, clients and society. The Terra Carta Seal serves as a testament to ongoing efforts and dedication to delivering value to EY stakeholders and building a better, more sustainable working world.”
The Terra Carta Seal was launched in 2021 at COP26 by His Majesty King Charles III when he was the Prince of Wales. Since its inception, the Sustainable Markets Initiative has awarded its coveted Seal to just 83 companies globally.
Jennifer Jordan-Saifi, CEO, Sustainable Markets Initiative, says:
“The Sustainable Markets Initiative’s Terra Carta Seal recognises those companies which are taking great strides in delivering real-world outcomes. As we stand on the eve of COP28, public, private sector and philanthropic actors will come together at the inaugural Business and Philanthropy Climate Forum to bridge the gap between ambition and action. It is examples exemplified by the 2023 Terra Carta Seal winners that are helping to inspire and lead the way.”
For the first time this year, the judging process involved independent, external partners Verdantix and the Expert Review Panel, who worked together to assess the eligibility and impact of each nominated project against recognized global sustainability criteria.
David Metcalfe, CEO, Verdantix, says:
“We are privileged to work with the Sustainable Markets Initiative, contributing our expertise in independent evaluation to the judging process. We take great pride in being an integral part of this esteemed global initiative, alongside a distinguished and diverse panel of experts. Together, we are dedicated to acknowledging and applauding the companies who lead the way in demonstrating their commitment to creating a sustainable future.”
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Notes to editors
About EY
EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets.
Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.
Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.
This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.
About the Terra Carta Seal
Sir Jony Ive and his creative team at LoveFrom created a physical and animated seal engineered with paper that is both simple and beautifully crafted. The design combines a host of natural references including oak leaves, fern, magnolia and honeybees and intricate patterns both in nature and in the arts, creating a visual celebration which reflects the power of and reverence for nature that is at the heart of the Terra Carta.
Read more: The Terra Carta Seal
About the Sustainable Markets Initiative
Founded by His Majesty King Charles III in 2020, as Prince of Wales, the Sustainable Markets Initiative has become the world’s “go-to” private sector organization on transition. Launched in 2021, the Terra Carta serves as the Sustainable Markets Initiative’s mandate with a focus on accelerating positive results for Nature, People and Planet through real economy action.
Read more: Sustainable Markets
About Verdantix
Verdantix is the essential thought leader for world-enhancing innovation. It supports changemakers with its proprietary data, unique expertise and executive networks. Its impactful analysis is delivered via a digital platform, consulting engagements and in-person events to thousands of decision-makers in more than 100 countries. From offices in London, New York, and Boston, the Verdantix research team applies the principles of rigor, accuracy, and curiosity to help its globally distributed clients solve their most complex challenges. verdantix.com.
About LoveFrom and Sir Jony Ive:
Sir Jony Ive KBE is a designer. He joined Apple in 1992. As chief design officer, Jony was responsible for all hardware, user interface and packaging design, as well as the major architectural projects Apple Park and Apple retail stores. He led the design team for more than two decades, creating the iMac, PowerBook, MacBook, iBook, iPod, iPhone, iPad, AppleWatch, AirPods and HomePod. Co-founder Steve Jobs referred to Jony as his creative partner. He holds more than 14,000 patents worldwide, uniquely spanning both software and hardware design. Jony currently serves as chancellor of the Royal College of Art, is frequently voted one of Britain’s most culturally influential figures.
In 2019, Jony gathered the creative collective LoveFrom, which includes designers, architects, musicians, filmmakers, writers, engineers, and artists. The combined experience, achievement and recognition of these creatives is without precedent.
The collective has been working quietly together since 2019, announcing multi-year collaborations with Airbnb and Ferrari. It has studios in San Francisco and London. lovefrom.com
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