Prince Charles ‘Terra Carta’ will receive support from Bank of America and BP

Prince The F Wells is launching a “Terra Carta,” or Earth Charter, and urges other companies to commit to practical steps to establish the planet on a more sustainable path. One goal is to direct ડો 10 billion in green causes by 2022.

The charter, which will be unveiled during the One Planet Summit in Paris on Monday, seeks to protect the world’s natural resources and accelerate the transition to a greener future. It has about 100 actions that businesses can take, including a commitment to achieve pure zero emissions by 2050 or sooner and to protect natural ecosystems.

Blackrock (B.L.K.), AstraZeneca (AZN), EY, Unilever (U.L.), Heathrow Airport, HSBC (HBCYF) And Fidelity International is also supporting the initiative.

In an exclusive interview with CNN Business on Monday, Prince Charles said “we have to be more ambitious” and move forward with efforts to achieve net zero emissions by 2050 to 2035. “To convince many more,” he told Richard Quest of Quest Means Business.

He added that the United States is ready to rejoin the Paris Agreement under Biden if elected president, “it will make a big difference and help gain even more support around the world,” he added.
A lifelong environmentalist and heir to the British throne, Prince Wa F Wells warned at the World Economic Forum in Davos, Switzerland last year that the planet faces destruction without a revolution in the way the global economy and financial markets operate.

In an interview with CNN at the annual gathering, he said, “How good is all the extra wealth in the world gained from ‘normal’ business?” ‘Global elite.

Prince Charles: We need a new economic model or the planet will burn

At that event, he launched the Sustainable Markets Initiative (SMI), chaired by Brian Moynihan, CEO of Bank of America, to put people and the planet at the center of global value creation.

Terra Carta serves as SMI’s “guiding command”, SMI According to a statement issued on Monday by. It will be updated every year for the next ten years.

One of the initiatives arising from the charter is private sector engagement He aims To invest 10 10 billion in “natural capital” by 2022, including revitalized agriculture and biofuels.

Swiss bank Lombard Odier, asset manager Mirova and Funding is managed jointly by HSBC (HBCYF) The Pollen Pollution Group, a climate consultancy company called the Natural Capital Investment Alliance, is a partner in the initiative.

It will direct money to businesses that seek to use or maintain the power of nature, such as using nature-based materials or setting up a zero waste strategy. It will also try to monetize the growing number of companies investing in sustainable development projects to offset carbon emissions and reach net zero targets.

– Contributed to Richard Quest Reporting.