On 19 November, the Mauritius Institute of Directors (MIoD), in collaboration with one of its founding members HSBC Mauritius, has through the Climate Governance Initiative Mauritius (CGI Mauritius) launched the programme, ‘Climate Governance Pathway’ deemed to be a unique initiative to help equip administrators, leaders and senior managers with the necessary skills to help integrate climate governance at the heart of their corporate strategy.
Accredited by the Climate Governance Initiative in collaboration with the World Economic Forum, the Climate Governance Pathway linking the best international practices with Mauritius has been designed from the Core Curriculum of the CGI and elaborated on an annual national engagement with the support of the Taskforce on Access to Climate Finance of the UK Government FCDO) and following the Beyond Business as Usual: The Climate Roundtable held in December 2024.
In a context where climate change is redefining economic models, Mauritius is facing several critical challenges subject to vulnerability: rise in sea level, coastal erosion and the intensification of tropical storms and pressure on natural resources. Adhering to the NDC 3.0, the country has committed to reducing its greenhouse gas emissions to the tune of 40 per cent by 2035 – a milestone that requires strengthened corporate governance and organisations capable of steering the transition to a low-carbon and resilient economy.
On the sidelines, the MIoD, Government of the UK, represented by the Foreign, Commonwealth & Development Office (FCDO), with the support of the British High Commission has signed an agreement, opening the door for the next initiative: the development of sectoral toolkits and the implementation of a progress monitoring platform for organizations, in order to improve the measurement, comparability and visibility of the contributions of companies and institutions to national priorities, in particular the NDC.
CEO at the MIoD and Chairperson Steering Committee of the CGI Mauritius Sheila Ujoodha commented: « The Climate Governance Pathway marks a decisive step on the role of corporate governance in climate action and through which, we are now proposing a common climate governance framework for the country that defines responsibilities, structuring key steps and advocates concrete indicators to help organizers articulate strategy, risk management and reporting in a coherent manner. The objective is clear: To reduce the gap between intention and implementation by providing leaders, executive and management teams with the necessary benchmarks to decide, manage and report in a structured manner. The agreement signed with the FCDO of the Government of the United Kingdom marks a new stage, laying the foundations for methodological support and a common monitoring mechanism to improve the coordination and visibility of efforts at the national level. We invite organisations to register their teams in the program and to remain engaged with CGI Mauritius in the next phases.»
Junior Minister of Finance Hon. Dhaneshwar Damry added, « I salute the initiative spearheaded by the MIoD and CGI Mauritius, in partnership with HSBC Mauritius: accredited programme Climate Governance Pathway that offers boards and management teams with the necessary benchmarks and skills to link climate, strategy, and performance, strengthen risk monitoring, and structure reliable decision-making information. The signing of the MIoD – United Kingdom Government Agreement (FCDO) opens an implementation phase by offering companies sectoral tools and a framework for monitoring progress, improving quality, comparability, and data visibility. Together, these initiatives strengthen measurement discipline, lending a clearer reading of the transition trajectories and ultimately improving the competitiveness of the cost of capital. I invite organisations to mobilise their teams around this programme and help integrate climate objectives into their investment and risk management plans. »
CEO & Head of Banking, HSBC Mauritius and Chairperson of the Advisory Council at CGI Mauritius, Hajrah Sakauloo commented: “HSBC Mauritius is proud to accompany the MIoD as a founding partner. From a market standpoint, climate governance has emerged as a marker of credibility, linking strategy, risk management, and reliable information while paving the way for a relationship of trust with investors, customers, and regulators. The Climate Governance Pathway provides management teams with a concrete framework for implementing clear benchmarks for the shouldering of responsibilities, setting forth benchmarks for progress, structuring reporting and anchoring application consistency over time. In addition, the agreement supported by the FCDO opens a deployment phase that will improve the comparability and visibility of progress at the national level, key factors for attractiveness and access to capital.”
On the other hand, the Senior Technical Cooperation Advisor for the Taskforce on Access to Climate Finance for the UK (FCDO) Sophie Lawrence shared her insights, « I laud the efforts of CGI Mauritius, MIoD, and HSBC Mauritius, for the launch of the accredited programme Climate Governance Pathway. At the level of the UK Taskforce on Access to Climate Finance, we are proud to have contributed towards the engagement session held this year in collaboration with the CGI Mauritius, along with public and private stakeholders as well as regulators, who threw light on the course’s concept, having seeped its presence in the local reality. The formalised agreement with the MIoD has opened the phase to implement a multitude of measurable objectives and clear deadlines: sectoral toolkits to structure credible transition plans and monitoring platforms to help enhance the quality, comparability, and readability of data. The objective is clear: Produce useful information for decision-making in the interest of the board, management, regulators, and financiers, designed to coordinate action, assess progress, and strengthen transparency, in support of national priorities. We remain fully committed to working in tandem with CGI Mauritius to spur a robust and consistent implementation.
