Press Release
The Mauritius Institute of Directors (MIoD), in partnership with HSBC Mauritius, is proud to announce the establishment of the Climate Governance Initiative Mauritius.
The launch took place on Wednesday 19 October in the presence of the Minister of Financial Services and Good Governance, Hon. Mahen Seeruttun, Chair of MIoD Mark Watkinson and the SDG at the Bank of Mauritius, Mrs Hemlata Sadhna Sewraj-Gopal.
This groundbreaking collaboration aims to mobilise boards of directors in Mauritius to address the strategic challenges posed by climate change and transition to a sustainable economic model in line with the recommendations of the Intergovernmental Panel on Climate Change (IPCC).
Why it matters:
“Climate change has emerged as a significant risk that demands immediate action. We are thrilled to join forces with HSBC, one of our esteemed founding members, to launch the Climate Governance Initiative Mauritius,” stated the CEO of the MIoD, Sheila Ujoodha.
From left to right: Sheila Ujoodha, CEO of MIoD, Mark Watkinson Chair of MIoD, Hon Mahen Seeruttun Minister of Financial Services and Good Governance, Hajrah Sakauloo Head of Wholesale Banking at HSBC, and Yan Hookoomsing – Corporate Sustainability Manager, HSBC
The CEO of HSBC Mauritius, Greg Lowden, added, “Through this partnership, we seek to empower directors to tackle climate change-related issues and facilitate a smooth transition towards achieving Net Zero by 2030 or earlier.”
How will it work?
The Climate Governance Initiative Mauritius will offer a wide range of activities, including forums, training sessions, and networking events, to equip directors with essential skills in climate governance. A dedicated steering committee, supported by an advisory council comprising renowned directors, will oversee the initiative’s strategy and provide invaluable guidance.
“By integrating the work of the Climate Governance Initiative Mauritius into our advocacy pillar, the MIoD aims to address the challenges posed by climate change effectively. We believe that boards of directors play a pivotal role in shaping the future of Mauritian businesses,” emphasised Ujoodha.
Recognising climate change as both a risk and an opportunity, stakeholders increasingly call for an integrated and strategic approach from companies. The Climate Governance Initiative Mauritius will empower directors to make informed decisions, seize opportunities, and mitigate risks associated with the climate emergency. By advocating for the adoption of strategies aligned with scientific recommendations, the initiative aims to achieve net-zero carbon emissions by 2050 or earlier.
Furthermore, the Climate Governance Initiative Mauritius aligns with the World Economic Forum’s Climate Governance Principles, designed to enhance non-executive directors’ understanding and skills in climate matters. These principles promote the integration of climate considerations into board decision-making and the recognition of climate-related risks and opportunities for long-term resilience and business success.
As part of a global community, the Climate Governance Initiative Chapters work collectively to foster the implementation of the principles. Through knowledge-sharing and collaborative efforts, the initiative strives to achieve critical mass in each country and contribute to the adoption of climate governance principles at both local and global levels.
Note to editors:
HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 62 countries and territories. With assets of US$3,041bn at 30 June 2023, HSBC is one of the world’s largest banking and financial services organisations.
