Manulife and the World Economic Forum (“the Forum”), announced the launch of two Innovation Challenges in 2023 through UpLink, the Forum’s open innovation platform. The partnership was announced at the Forum’s Annual Meeting in Davos and aims to engage ecopreneurs and partners to help them scale new and innovative ideas and ventures.
The Sustainable Forest Economy Challenge will aim to source innovative solutions across the value chain from the sustainable management of forests to the production and utilization of wood. A climate-smart forest economy approach is critical to protect, maintaining, managing, restoring, and regrowing forests. Applicants can begin applying today through March 1st, 2023.
Industry sources added that the two UpLink Innovation Challenges will unlock solutions that stem from, and are aimed at, forests, to galvanize an ecopreneur revolution that will help to safeguard nature, climate, livelihoods, and the well-being of people. Full project details, including eligibility criteria and timelines, can be found on the challenge page here.
Biodiversity is degrading faster than at any time in history, driving poor environmental, economic, and human health outcomes. This includes the loss of forests, which is destabilizing natural systems. Sustainably managed forests and farms are a critical part of reversing harmful environmental impacts; they sequester carbon, regulate global temperatures and freshwater flows, recharge groundwater, anchor fertile soil, act as flood barriers, and have been shown to enhance mental and physical health. Through this project, Manulife furthers its ongoing commitment to continue scaling nature-based climate solutions and investments in sustainable forestry and farmland to help combat nature loss, because collective action is needed to sustain our societies and economies.
Roy Gori, President and CEO, Manulife stated: “Our environment is key to human health and wellbeing, and as a global life insurer and asset manager, we see firsthand how damaged ecosystems put livelihoods and economies at risk. Given our position as one of the world’s largest sustainable timberland and farmland investment managers, we can support and scale innovative solutions, which are urgently needed in response to the rapid degradation of nature and biodiversity. We are very excited to launch this project with the World Economic Forum and UpLink and want to hear from passionate, big thinkers who can help us address and reverse nature loss.”
John Dutton, Head of UpLink and Member of the Executive Committee for the World Economic Forum commented, “”Innovation is not a nice-to-have, but an essential ingredient in achieving the United Nations’ 2030 Sustainable Development Goals. We’re proud to join forces with Manulife to source and scale the innovative solutions that will strengthen sustainable forestry, improve wellbeing, and promote nature-based solutions to climate change. This commitment will help to shine a light on the often-overlooked purpose-driven entrepreneurs whose solutions are so urgently needed, giving them the visibility, resources, and expertise they need to tackle the world’s biggest challenges head on.”
This project builds upon Manulife and the World Economic Forum’s continued partnership. Late last year, Manulife announced a pledge to 1t.org which is the Forum’s Trillion Trees initiative. As part of the pledge, Manulife is aiming to scale Manulife Investment Management’s carbon-focused forestry investments and sequestration of CO2 from the atmosphere through the forests it manages over a period of 5 years.
For more news and updates on Biodiversity globally allude to:
WWF partners with Huawei Italy to safeguard Biodiversity in Italian agroecosystems
Singapore’s SGD35Bln Green Sovereign Bond bolsters Sustainable Finance Capacity
HDFC Bank announced plantation drive in Mumbai
