Commonwealth Secretariat, Bloomberg Philanthropies to explore JVs

Thursday, 26 April 2018 00:00 -     - {{hitsCtrl.values.hits}}

By Charnika Imbulana in London

A multi-year agreement signed during the 2018 Commonwealth Heads of Government Meeting (CHOGM) between Bloomberg Philanthropies and the Commonwealth Secretariat is expected to harness the experience and resources of the two organisations to cooperate on international projects. This multi-year agreement will have the two explore a number of mutually supportive joint initiatives to aid international trade, innovation and sustainability. It will see both parties seek to collaborate on areas of common interest, by leveraging their experiences, resources and networks.

These initiatives may include:

Supporting more inclusive economic growth and sustainable development programs to enable increased international trade, employment and business growth, while promoting the sustainable development of natural resources and developing improved climate finance frameworks

Collaborating on the development of the Commonwealth Innovation Hub, which was launched at the Commonwealth Heads of Government Meeting (CHOGM) this week Strengthening the resilience of small and vulnerable states to the impacts of natural disasters caused or exacerbated by climate change by participating in the states’ risk assessment and potential damage assessment, along with recovery and sustainable, resilient rebuilding efforts

A joint effort to collect, analyse, and display data on commercial fishing, and provide support to improve governance of fisheries and monitoring of marine protected areas

Working with the C40 Cities Climate Leadership Group, of which Michael R. Bloomberg serves as President of the board, to develop a program of collaboration to reduce pollution and improve resilience to climate change across Commonwealth cities Michael R. Bloomberg, founder of Bloomberg LP and Bloomberg Philanthropies, three-term Mayor of New York City, said: “Bloomberg Philanthropies has worked closely with Commonwealth nations to protect public health, support trade and economic growth, and confront climate change - and we look forward to building new partnerships that will help address these and other big challenges facing all nations. Our world is more interconnected than ever before, and the more we cooperate and work together towards common goals, the brighter our future will be.”

Patricia Scotland QC, Secretary-General of the Commonwealth, said: “Collaboration between Bloomberg and the Commonwealth Secretariat offers valuable new opportunities to carry forward our work in serving the 53 member countries of the Commonwealth family. “We look forward to drawing on the range of leadership and experience Bloomberg has to offer, notably on sustainable development, economic growth, smart cities and tackling climate change. Cooperation in targeted areas brings synergies arising from access to technical know-how and smarter use of resources.”

Bloomberg Philanthropies works in over 120 countries around the world to ensure better, longer lives for the greatest number of people. The organisation focuses on five key areas for creating lasting change: Arts, Education, Environment, Government Innovation, and Public Health. Bloomberg Philanthropies encompasses all of Michael R. Bloomberg’s charitable activities, including his foundation and his personal giving. In 2017, Bloomberg Philanthropies distributed $702 million.