The Terra Carta Seal is awarded to companies that demonstrate initiatives which align with one or more of the Sustainable Markets Initiative’s ten Terra Carta Articles. Terra Carta is the Sustainable Markets Initiative’s guiding mandate to a sustainable future, placing Nature, People and Planet at the heart of global value creation.
A panel of global experts from the environmental, business, political and philanthropic worlds decide the winners of the seal. “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,” said Jennifer Jordan-Saifi, CEO, Sustainable Markets Initiative. “It is exemplified by the 2023 Terra Carta Seal winners that are helping to inspire and lead the way.”
Recognised for its continued efforts toward sustainability, Soneva is the only hotel brand among the organizations that received a 2023 Terra Carta Seal. Although there is no industry standard for environmental and social reporting at present, Soneva developed its own Total Impact Assessment (TIA) methodology in-house.
“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. Soneva resorts have been carbon neutral since 2012. We recently invested USD 9 million in 4.5MWp solar PV and 4.5MWh of battery storage at Soneva Fushi and Soneva Jani that will take us to 50% of electricity from renewable energy.” said Arnfinn Oines, the Social & Environmental Conscience at Soneva.
“We also have a mandatory 2% environmental levy on all stays. The proceeds go to the non-profit Soneva Foundation, which helps offset both direct and indirect carbon emissions from our resort activities as well as guest flights, while also supporting impactful global projects such as forest restoration efforts in Mozambique and Thailand, coral restoration in the Maldives, reintroducing near-extinct hornbills to Thailand’s Koh Kood island, distributing fuel-efficient cook stoves in Myanmar and more.”