SONEVA AWARDED THE 2023
TERRA CARTA SEAL
Sustainable Markets Initiative Recognizes Pioneering Companies Creating Climate and Nature-Positive Future
The leading eco-resort operator Soneva has been awarded the 2023 Terra Carta Seal from the Sustainable Markets Initiative, the only hotel brand to be recognized for its pioneering sustainability efforts.
Recognized for its remarkable sustainability efforts, Soneva, which has award-winning properties in the Maldives and Thailand, is the only hotel brand among a select group of large global organizations that received a 2023 Terra Carta Seal, including Airbus, Carbon Clean, CDPQ, DLA Piper, EY, Haier Smart Home, Hitachi, LanzaTech, Novartis, Orange, Ping An Bank, Pollination, ReNew, Robertson, Siemens Energy, and Sumitomo Mitsui Financial Group, Inc.
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 ten Terra Carta articles. The winners were selected by a panel of global experts from the environmental, business, political and philanthropic worlds. Designed by Sir Jony Ive, 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.
“The Sustainable Markets Initiative’s Terra Carta Seal recognizes those companies that are taking great strides in delivering real-world outcomes,” said Jennifer Jordan-Saifi, CEO, Sustainable Markets Initiative. “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.”
While there is currently no industry standard for environmental and social reporting, Soneva developed its own in-house Total Impact Assessment (TIA) methodology, which includes measuring its Environmental Profit and Loss (EP&L) and improving year-on-year. By taking a ‘planetary boundaries’ view of its social and environmental impact, the TIA assesses the impact from sources over which Soneva has both direct and indirect control, including natural capital, human capital, social capital, economic capital and tax.
“Soneva is honored to be awarded the prestigious 2023 Terra Carta Seal. We are dedicated to leading the way in responsible tourism and championing the transformative power of travel and tourism in global conservation efforts,” said Arnfinn Oines, Social & Environmental Conscience, Soneva. “Soneva resorts have been carbon neutral since 2012, and we recently invested US$9 million in 4.5MWp solar PV and 4.5MWh of battery storage at Soneva Fushi and Soneva Jani, which will take us to 50% of electricity from renewable energy.”
For more information about the Soneva Foundation, visit www.sonevafoundation.org.
