Mauritius Institute of Directors Commits to Supporting Entrepreneurs

On December 3rd, the Mauritius Institute of Directors (MIoD) hosted the “Beyond Business as Usual: The Climate Roundtable” conference at Hennessy Park Hotel in Ébène. The event gathered business leaders, experts, and representatives from both the public and private sectors to discuss climate governance and its importance for local entrepreneurs.

The MIoD announced ambitious plans to equip local entrepreneurs with sector-specific guidance by 2025.

This guide will offer practical advice and tools designed to assist corporate boards in effectively integrating climate governance principles into their organizations.

Despite the global recognition of the importance of climate governance over the past 32 years, particularly following the United Nations Framework Convention on Climate Change (UNFCCC), the MIoD’s findings suggested that many local entrepreneurs have yet to fully embrace these practices.

The MIoD, a professional organization aimed at enhancing corporate governance standards in Mauritius since its inception in 2008, revealed that a crucial barrier remains: the lack of a comprehensive sectoral guide.

This document is essential to provide the necessary tools and recommendations for organizations looking to incorporate climate governance strategies.

However, MIoD officials are optimistic that by early 2025, this deficiency will be addressed with the launch of a toolkit facilitating compliance with climate governance obligations.

Before this can happen, two fundamental steps must be taken. The first involves convening stakeholders for a roundtable discussion aimed at sparking dialogue on the climatic challenges faced by companies.

Participants will work to identify practical barriers that hinder the implementation of effective solutions to reduce carbon emissions.

The second step will involve conducting a survey to qualitatively assess the current state of climate governance practices within the private sector in Mauritius.

Insights gleaned from the roundtable discussions and the survey will inform the development of a certified training program through the Climate Governance Initiative (CGI).

This global network, which includes CGI Mauritius and is backed by the World Economic Forum, focuses on providing tailored programs for corporate directors that meet international standards while being specifically adapted to the Mauritian context.

The roundtable on December 3rd marked the inaugural event of this initiative, with notable attendance from government officials.

Rajesh Bhagwan, the Minister of Environment, Solid Waste Management, and Climate Change; Jyoti Jeetun, Minister of Financial Services and Economic Planning; and Dhaneshwar Damry, Junior Minister of Finance, all participated, highlighting the government’s keen interest in fostering climate governance among local businesses.

As the Mauritius Institute of Directors takes significant steps to address climate governance, the potential for tangible changes in local business practices grows, paving the way for a more sustainable future in Mauritius.

Rajesh Bhagwan, the Minister of Environment, Solid Waste Management, and Climate Change, stated, “It is no longer enough to make promises or declarations of intent.

The time has come for decisive actions. Every stakeholder has a role to play in our national efforts to combat climate change.”

Jyoti Jeetun, Minister of Financial Services and Economic Planning, echoed this sentiment, underscoring that climate governance would be a central focus for the newly formed government.

She declared, “Climate change will be a major priority on our agenda. It is essential to recognize the urgency of current issues in order to better plan for the future.

In light of the gravity of these challenges, we will develop an action plan to prepare the country, its populace, and businesses to meet the obligations associated with these issues.

We must ensure that the public sector and our private operators share a common vision for this plan.

To achieve this and build a more sustainable future, appropriate policies, a suitable governance framework, and an effective execution plan will be necessary.”

Dhaneshwar Damry, the Junior Minister of Finance, emphasized that the government’s approach to economic growth would now incorporate commitments to a governance model that prioritizes the rights of future generations.

“A new chapter is being written for Mauritius. Sustainable growth is vital to guarantee a prosperous and secure future for our population.

Mauritius is resolutely committed to leading initiatives on climate change and climate governance.

We are prepared to face climate challenges and plan for the future—not just as a vision but as a strong mission. Together, let’s make it a reality!”

The high commission of the United Kingdom in Mauritius, along with HSBC Mauritius, CGI Mauritius, and the Taskforce on Access to Climate Finance, collaborated with the MIoD to organize this roundtable.

The presence of representatives from the Taskforce was key, as it provides a platform for vulnerable countries to voice concerns about financing methods from advanced nations.

The aim is to take appropriate actions, which have often been criticized as slow, complex, and insufficient.

Charlotte Pierre, the British High Commissioner, highlighted the necessity of collaboration in the fight against climate change.

“This roundtable exemplifies the collaboration needed between the private sector, government, and international partners in addressing the climate crisis.

I am thrilled that the British High Commission, through the UK Taskforce on Access to Climate Finance, supports such an essential initiative to help Mauritius seize the business opportunities presented by the climate transition while recognizing and addressing the associated risks.

I look forward to seeing how all stakeholders will rise to this challenge.”

Greg Lowden, Chief Executive Officer of HSBC Mauritius and Chairman of the Advisory Council of CGI Mauritius, emphasized the crucial role of businesses in achieving carbon neutrality.

“Our country, like the rest of the world, is at a decisive turning point faced with urgent climate challenges.

Businesses play an essential role in transitioning to a carbon-neutral economy.

At HSBC, we pride ourselves on being a trusted partner, helping our clients transition to carbon neutrality and pursue sustainable practices.

By prioritizing renewable energy, fostering data-driven scientific innovation, and aligning our actions with our shared responsibilities, we can unlock significant opportunities and build a more sustainable and prosperous future for Mauritius.”

Sheila Ujoodha, Chief Executive Officer of the MIoD and Chair of the Steering Committee of CGI Mauritius, reiterated her organization’s commitment to supporting businesses in integrating climate governance into their everyday operations.

“As a dedicated platform, in collaboration with HSBC and the UK Taskforce on Access to Climate Finance, the MIoD reaffirms its commitment to assist corporate boards in their transition to effective climate practices.

We sincerely thank the British High Commission for its support in organizing this roundtable, and we eagerly await the feedback from the discussions and the results of the survey.”

As Mauritius moves forward, the collective effort from various stakeholders will be crucial in addressing the looming threat of climate change and ensuring a sustainable future for generations to come.

Source: l’Express