Prince Harry and Meghan have announced a change (Image: Getty)

Prince Harry and Meghan Markle’s joint charity, the Archewell Foundation, will be renamed Archewell Philanthropies as it marks five years since it was launched. The Duke and Duchess of Sussex set up the Archwell Foundation, which follows the mission statement “Show up, do good”, after stepping down from their roles as senior members of the Royal Family and moving to the US in 2020.

The couple have set up a number of projects, shared important messages, produced Netflix content and helped fund several groups since Archewell was founded. This year alone, the charity has advocated for safer digital spaces and the responsible development of artificial intelligence (AI).

It has also funded support for children affected by conflict in Gaza and Ukraine, as well as supporting charities such as Children in Need and supporting individuals featured in Netflix content.

The Archewell Foundation takes its name from “arche”, the ancient Greek word meaning “source of action”, and “well”, symbolising “a plentiful source or supply, a place we go to dig deep”.

A spokeswoman for Harry and Meghan said: “This next chapter allows Prince Harry and Meghan, Duke and Duchess of Sussex, to broaden their global philanthropic efforts as a family, with meaningful reach and maximum impact, grounded in the same values, partnerships, and their commitment to show up and do good.”

The couple’s latest announcement on their Archewell page was to praise Australia’s decision to ban under-16s from social media.

Their message read: “We celebrate Australia’s leadership for seeing and acting on how these technology companies are negatively impacting young people with little to no recourse or accountability, and feeble efforts from the companies to stem the flow of harms.”

Prince Harry and Meghan Markle launched Archewell in 2020 (Image: Getty)

The couple’s bold statement came after it was confirmed that several social media sites face fines of up to $49.5m (£25m) if they fail to take reasonable steps to disable the accounts of under-age users. Australian Prime Minister Anthony Albanese described the move as “the day when Australian families are taking back power from these big tech companies”.

The couple’s statement went on: “This bold, decisive action to protect children at a critical moment in their development sends a strong signal that a child’s mind is not a commodity to be exploited. It buys young people valuable time back in their childhoods, but it doesn’t fix the fundamental issue we all still face with social media platforms.

“Here’s the truth: the ban is an effective measure to stop imminent harm, but ultimately only works as a band aid that does not address tech’s broken design and exploitive business incentives, requiring us to protect young people in the first place.”