The Sustainable Markets Initiative (SMI) has announced the Royal Academy of Engineering is joining as an official partner, marking a new chapter in collaborative efforts to address climate change, biodiversity loss and social inequalities through innovation in engineering.
The two organisations share the backing of His Majesty King Charles III who founded the Sustainable Markets Initiative in 2020 when he was the Prince of Wales, and who this year became the patron of the Royal Academy of Engineering.
The new strategic partnership will bring together the SMI’s network of over 250 global companies with the academy’s renowned technical expertise to drive engineering led projects that will accelerate the transition to a sustainable, resilient, and inclusive economy by addressing complex environmental and social challenges.
The academy has been providing independent policy advice on sustainability to government and others for over three decades, now coordinated across the engineering profession through the National Engineering Policy Centre. It also channels a major portion of funding into supporting researchers and entrepreneurs in the UK and around the world in developing sustainable solutions to global challenges. This includes the new Green Future Fellowships programme, which will award £150 million over the next five years to innovators with transformative ideas and initiatives to address the climate crisis.
Together, the SMI and the academy will collaborate on offering targeted expertise, policy recommendations, and a shared vision for sustainable innovation across industries including aviation, agriculture, energy, healthcare, transport and more.
Jennifer Jordan-Saifi, CEO of the Sustainable Markets Initiative, said: ‘Engineering is essential for any successful transition to a low carbon economy. By partnering with the Royal Academy of Engineering, we are empowering our members with the technical knowledge and insight needed to take practical action. We are also connecting the academy with leaders who have the expertise, access and commitment to drive transformational change across a range of industries and regions.’
Dr Hayaatun Sillem, CEO of the Royal Academy of Engineering, commented that: ‘The Sustainable Markets Initiative represents a powerful convergence of business, technology, and sustainability, and we are thrilled to bring engineering expertise to this vital network.
‘Engineering can deliver breakthrough solutions to the most complex challenges we face today. By collaborating with diverse industry leaders across the SMI, we look forward to accelerating tangible, long term solutions that will help industries transition to sustainability while supporting societal wellbeing and economic growth.’
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