World news – The British Prince Charles urges companies to join the Earth Charter under the £ 7 billion sustainability plan

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By

James Hitchings-Hales

By

James Hitchings-Hales

It has been 805 years since King John first agreed to the Magna Carta, a royal charter protecting certain rights in England. Although it no longer serves any practical purpose today – its modern relevance has been completely misunderstood – it is a document of immense historical importance. It was arguably the founding moment Britain approached democracy.

But while the British monarchy found the Magna Carta to be a bitter pill to swallow – all those pesky restrictions on far-reaching powers! – The same old institution is now trying to use its success to tackle the planet’s greatest threat: the climate crisis.

It’s called Terra Carta, or Earth Charter, a plan that commits companies to a decade of protecting the environment.

Prince Charles launched the charter on Monday at the One Planet Summit in Paris as he personally fought for the climate crisis for 50 years.

The heir to the throne of Queen Elizabeth II. Urges private industry to join the plan of the he hopes to « reunite » people and planets with nearly 100 actions to become sustainable by 2030.

These actions include financial commitments for a future with low emissions and support for key international climate agreements.

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Terra Carta plans to make environmentally friendly investments of USD 10 billion (GBP 7 billion) through the Natural Capital Investment Alliance before 2022. It is backed by major international corporations such as HSBC, Bank of America and BlackRock – companies historically linked to the fossil fuel industry, according to the Guardian.

« Today I make an urgent appeal to executives from all sectors and around the world to join us and support this ‘Terra Carta’ – to bring prosperity in harmony with nature, people and planet in the coming decade, ”said Charles.

Today announces the Prince of Wales Sustainable Markets Initiative (@TheSMI ) the Terra Carta – an “Earth Charter” that puts sustainability at the center of the private sector.
The prince will speak about the Terra Carta later today on @OnePlanetSummit. pic.twitter.com/sPjFGrnAPn

« I can only encourage those in industry and finance in particular to give practical guidance to this joint project as only they can mobilize the innovation, scale and resources necessary for the transformation our global economy, « he added.

Prince Charles announced the charter as part of the Building Sustainable Markets Initiative, a group he launched in January 2020 to bring together world leaders to decarbonise the economy.

Ref: https://www.globalcitizen.org

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