The CEO Round Table and IUCN announce a partnership to promote sustainable business practices in Tanzania
The CEO Roundtable of Tanzania (CEOrt) and the International Union for Conservation of Nature and Natural Resources (IUCN) have today entered into a Memorandum of Understanding (MoU), establishing a significant collaboration aimed at cultivating sustainable business practices in Tanzania.
Dar es Salaam, 9th November 2023 - The CEO Roundtable of Tanzania (CEOrt) and the International Union for Conservation of Nature and Natural Resources (IUCN) have today entered into a Memorandum of Understanding (MoU), establishing a significant collaboration aimed at cultivating sustainable business practices in Tanzania.
Under CEOrt's Business and Sustainability Agenda and the IUCN's Sustainability and Inclusion Strategy for Growth Corridors in Africa (SUSTAIN) priority areas, both organisations will focus on enhancing sustainable practices within Tanzanian businesses and support the government's climate goal of attaining its commitment to reducing National Determined Contributions (NDCs) from 10-20% to 30-35% by 2030. This collaboration will also contribute to the development of an inclusive green economy.
During the signing event, CEOrt, Executive Director Santina Benson, highlighted, "SDG 17 emphasises on partnership and collaboration to drive impact. Our partnership with IUCN began in 2019, and we are excited to have the opportunity to collaborate once again and contribute to our shared vision. We recognise the private sector’s pivotal role in delivering on Tanzania’s Climate Change aspirations. Through this partnership, we are committed to building on the unique contributions of each organisation in order to support businesses to transition to sustainable practices.”
This partnership is well-timed as the Bank of Tanzania (BoT) recently launched the International Financial Reporting Standards (IFRS) that will require all businesses to disclose information on climate-related risks and opportunities. Additionally, as the world continues to mitigate the impact of Climate Change, businesses serve as the catalysts for this change by shifting from commitment to action in order to achieve sustainable growth that combines economic efficiency with meaningful, substantive measures to resolve these challenges.
“The private sector is an important ally in combating climate change promoting net zero and nature positive development in Tanzania. By utilising their resources, expertise, and market-oriented approach, private sector entities can drive climate action, enhance resilience, and contribute to sustainable food systems. This collaboration reflects IUCN's mandate to engage with the private sector in addressing climate change, biodiversity loss, pollution, and waste. Our partnership with CEOrt aims to promote sound business models and a holistic approach, including support for the enabling policy environment. Together, we aim to actively contribute to the climate and environmental agenda and promote innovative Nature-based Solutions (NbS) for these pressing challenges," said Luther Anukur, Regional Director for IUCN Eastern and Southern Africa. CEOrt and IUCN will leverage their expertise and resources to equip business leaders and stakeholders to understand different ways to adapt, mitigate, and transition to more sustainable business practices. This will be achieved through tailored workshop sessions, communication campaigns, facilitation, and knowledge-sharing, as well as building a business case that will showcase how sustainable business practices improve business performance.
The success of this collaboration will be measured by increased sustainability awareness and actions within the Private Sector through participation in sustainability-related forums, adoption of tools and guidelines, and the development of strategic plans for sustainable business practices to achieve agreed sustainability targets.