The Commonwealth of Nations
The Commonwealth of Nations, often referred to simply as the Commonwealth, is an international association of 56 member states, the majority of which are former territories of the British Empire, from which it has developed since its launch in 1949. They are connected through their use of the English language and cultural and historical ties, and through their adherence to the principles and values expressed in the Commonwealth Charter.
The Commonwealth is a force for good in a world that faces many challenges. It is a unique international organisation of nations that, if sustained and supported has the potential to unlock global capacity for growth, peace and prosperity within its membership and beyond
In the majority of Commonwealth countries, the absolute size of the older population will increase by at least 100% over the next 25 years. These are mostly low- and middle- income countries. Increased longevity is being experienced across the Commonwealth. Its citizens should be enabled to live and age well. This improves quality of life and is an economic necessity for resilient democracies and civil societies.
The creation of CW ACT is a CommonAge initiative.
CommonAge is a charitable organisation, registered in Australia, and an accredited Commonwealth Civil Society organisation. The charity works to ensure older people are fully recognised in society, and are supported and enabled to live and age well in an all-age friendly, inclusive multigenerational Commonwealth.
The Opportunity
Understanding Healthy Ageing
The WHO defines healthy ageing as “the process of developing and maintaining the functional ability that enables wellbeing in older age.”
Healthy ageing is not merely the absence of disease but focuses on maintaining functional abilities that allow older persons to do what they value throughout their lives.
It encompasses physical health, mental wellbeing, social connection, financial security, and engagement in meaningful activities.
The number—and proportion—of older people (65+) in the Commonwealth will increase. Life expectancy is rising almost everywhere, and as large younger cohorts age, even in countries with lower life expectancy there will be more people reaching older ages. This means rising demand for elder care, pensions, health services, etc.
Proportion aged 65+ will double in many Commonwealth countries by 2050, so where now maybe 5–7% are 65+, by 2050 10-12% will exceed this age in many countries (higher in those already elderly).
The United Nations Decade of Healthy Ageing (2021–2030) is a global collaboration, aligned with the last ten years of the Sustainable Development Goals, to improve the lives of older people, their families, and the communities in which they live.
Recent cuts to development budgets have highlighted the need for a focus on the business of ageing. Reductions in AID require a greater focus on TRADE & INVESTMENT.
The global longevity economy:
Goods and services for the 60+ population—is projected to reach $15 trillion by 2030. Within the Commonwealth, this represents a vast market opportunity for innovative solutions that:
- Support Independent Living
- Improve Health Outcomes
- Enhance Social Connection
- Leverage Technology for Enhancing Care & Wellbeing
- Improve Health Literacy for Young People to Support their Ageing Journey
- Provide Accessible Financial Services
- Help to reduce loneliness in later life
- Create Age-Friendly Communities
- Improve Mental Health, Reduce Depression in Later Life
- Support Chronic Disease Management such as for Women to Reduce Impact of Osteoaritis
THE MODEL
The UKRI Innovate UK Healthy Ageing Challenge 2019-2024 was a considerable step forward for the healthy ageing business culture of the UK. It stimulated enterprise, innovation and investment in many ways. The Impact Report on the Challenge (UKRI-300424-AddingLifeToYears-ImpactReport.pdf) gives details of its achievements, investment figures, and the projects supported.
Commonwealth Ageing With Creativity and Technology
CW ACT is working with international partners to develop two streams of financial support targeted mainly, but not exclusively, at releasing the creative commercial potential of enterprises in lower- and middle- income countries (LMICs) and small island states (SIDs)of the Commonwealth.
- Commonwealth Healthy Ageing Investment Fund (CHAIF)
- Commonwealth Healthy Ageing Grants Programme (CHAGP)
Commonwealth Ageing with Creativity and Technology (CW ACT) is an independent Company Limited by Guarantee, registered in the UK, that has been created, with support, by CommonAge.
It operates as a commercial company designed to create and support investment and growth opportunities for businesses and social enterprises across the Commonwealth. working on commercial solutions that will improve the quality of life for citizens of all ages across the life course and especially those facing the challenges of age-related infirmity. A percentage of any profit generated by CW ACT will be donated to CommonAge to sustain the day-to-day operations of the charity.
CW ACT Organisational Chart
