Prince William warns humans must avoid climate change disaster

At the start of this year, The Prince of Wales called on business leaders across the world to invest in green issues and sustainability as he launched a £7.3billion recovery plan to right a string of ‘broken promises’ over the environment.

Marking 50 years since he first began campaigning on green issues, Charles unveiled his ‘Terra Carta’, a pioneering multi-national agreement between some of the biggest firms in the world to put sustainability at the heart of the global post-pandemic recovery.  

Charles urged business leaders to support his Earth Charter and ‘bring prosperity into harmony with nature, people and planet’ over the next decade. 

He told delegate at the One Planet Summit in Paris: ‘I am making an urgent appeal to leaders, from all sectors and from around the world, to give their support to this Terra Carta, to bring prosperity into harmony with nature, people and planet over the coming decade.’ 

Prince Charles told the summit in January: ‘The current pandemic exemplifies the devastating impact global threats can pose to human and economic wellbeing – after all, nature is central to all aspects of our existence; from the air we breathe, our nourishment and shelter, to out spiritual, cultural and recreational wellbeing.

‘The interdependence between human health and planetary health has never been more clear. For so many of the problems we face, nature – with the benefit of billions of years of evolution – has already provided us with the solutions.

‘As we urgently seek to rescue the situation we must now look to invest in natural capital as the engine of our economy.

‘With growing interest in natural capital as an investment theme, the financial sector has come to see that natural capital can come to play a decisive role in addressing climate change as well as supporting the sustainable development goals.

‘Integration of biodiversity, related risks and opportunities into the finance sector is already underway.

‘We also need to think holistically about land, food, and health systems. Climate change, land use change, food production and human health are all deeply interconnected.

‘Regenerative agriculture, including practices such as organic and no-till farming, to restoring soil fertility or using silvopastural or agroforestry systems, could enable agriculture to become a net carbon sync – rolling climate change backwards profitably as it revitalises rural communities and enhances human health.

‘As we look towards the United Nations biodiversity conference in China later this year, the Great Green Wall has the potential to serve as an example of large scale natural capital investment in critical areas such as wider Africa, the Amazon, small island states and the Great Barrier Reef. 

‘It can also be instrumental not only in bringing together Commonwealth countries ..but around landscape restoration in Africa in particular.

‘This is why I am so grateful to all of you here today for taking an interest in natural capital and the Great Green Wall initiative.

‘It is also why have created a natural capital investors alliance targeting $10bn in investment by 2022 to help us arrive at a common language on natural capital investment so that we can start putting money to work and improve the flow of capital.’ 

Charles called on world leaders to give their support to the ‘Terra Carta’ – a new initiative providing the basis of a sustainable recovery plan for Nature, People and Planet at the heart of global value creation. 

The Terra Carta (Earth Charter), ‘provides a roadmap to 2030 for businesses to move towards an ambitious and sustainable future; one that will harness the power of Nature combined with the transformative power, innovation and resources of the private sector.’

Devising its name from the historic Magna Carta, the Terra Carta aims to ‘reunite people and planet, by giving fundamental rights and value to Nature, ensuring a lasting impact and tangible legacy for this generation.’

The Terra Carta statement of intent is as follows: 

1. The Terra Carta will serve as the guiding mandate for HRH The Prince of Wales’s Sustainable Markets Initiative (SMI). 

2. The Terra Carta aims to provide an integrated roadmap towards an inspiring, inclusive, equitable, prosperous and sustainable future for the sake of present and future generations; one that will harness the power of Nature combined with the transformative power, innovation and resources ofthe private sector. 

3. The aims of the Terra Carta will be met by: 

i. Furthering, and where possible exceeding, the goals and targets outlined in the Paris Climate Agreement, the Sustainable Development Goals, the Convention on Biological Diversity, the Convention to Combat Desertification and the UN Convention on the Law of the Sea. 

ii. Broadening the definition of sustainability, beyond simply net zero transition, to be inclusive of Nature, People, Planet, Equality and Prosperity. 

iii. Supporting the protection and restoration of a minimum of 30% of biodiversity, on land and below water, by 2030 and 50% by 2050. 

iv. Making global investment and financial flows consistent with a pathway towards low greenhouse gas emissions, climate-resilient development and Natural Capital/biodiversity restoration (on land and below water). 

v. Encouraging coordination, cooperation and cohesion within corporate and public-private-philanthropic domains. 

vi. Leveraging consumer and shareholder demand to drive sustainable transition and investment within the private sector. 

4. The Terra Carta recognizes that each industry, business and investor needs to chart its own course to a more profitable and sustainable future, and that global, regional, local and industry variance exists. With the sustainable direction increasingly clear, the Terra Carta aims to encourage and provide a voluntary framework for each actor to accelerate along their respective transition journeys. 

5. In targeting a global private sector and a diverse multi-industry audience, it is recognized that actions outlined by the Terra Carta will not apply equally to all. At the same time, to reach a sustainable future, the systems-level shift required relies on the leadership, resources and interdependence of diverse global, regional and local actors.With this multiplicity of actors, pulling in the same direction is critical. 

6. The Terra Carta recognizes that no one action, industry or actor is, in itself, sufficientto solve the climate and biodiversity crisis. A multitude of actions, initiatives and investments are necessary. The more coordinated, aligned and mutually reinforcing these efforts are,the higher the likelihood of success. 

7. The Terra Carta will be open to affirmation from any CEO, or equivalent, in any sector, that wishes to support the private sector’s role in helping to build an inspiring, inclusive, equitable, prosperous and sustainable future. In 2021, COP15 (biodiversity) and COP26 (climate) will be critical milestones to demonstrate private sector commitment and action. 

8. The Terra Carta is to be a living document that will be reported on and updated annually. This will allow the Terra Carta to keep up with global progress, technological evolution and a shifting investment landscape while seizing rapidly emerging opportunities developing around the world.