The Crown (England) acts as Sovereign of the Commonwealth that symbolises the free association of independent member nations playing an important international role to unify the Commonwealth in all respects.
The status of the Sovereign of the Commonwealth was established as a result of the signing of the Realm Framework Agreement of 2022 between The Crown (England) and The Commonwealth Crown (The Greek Crown at time of signing). The Realm Framework Agreement of 2022 is now part of the British Crown Canon which is a document of the Commonwealth Framework.
The British Commonwealth exercises its sovereignty as a state in the name of HM King Charles III.