Prince launches drive to save planet
It is more than 50 years since the Prince of Wales delivered his first landmark speech on the subject of the environment, warning of the dangers of plastic and pollution.
He has since conceded that at the time, people thought he was ‘‘dotty’’ but undeterred, he ploughed on, questioning why action should only be prompted by ‘‘catastrophes and chaos.’’
The prince today unveils his biggest environmental initiative to date, an ambitious Magna Carta-style charter that marks the culmination of his five decades of work.
The Terra Carta will encourage the private sector to safeguard the planet by adopting sustainability and investing US$10 billion dollars (NZ$14 billion) in ‘‘natural capital’’.
It aims to bring sustainability to the heart of industries such as aviation, shipping and urban development.
In its name, the prince leaves little doubt as to his ambitions for the scope and scale of the project.
In the foreword to the 18-page document, he writes: ‘‘If we consider the legacy of our generation, more than 800 years ago, Magna
Carta inspired a belief in the fundamental rights and liberties of people. As we strive to imagine the next 800 years of human progress, the fundamental rights and value of nature must represent a step-change in our ’future of industry’ and ’future of economy’ approach.’’ The charter contains 10 action points and 85 recommendations for businesses to move towards a greener future within the next decade. The prince will make an ‘‘urgent appeal’’ to business leaders to sign up to the Terra Carta, which gives fundamental rights and value to nature.
It comes at a pivotal moment, as the coronavirus pandemic has forced governments, and the private and public sectors to reexamine practices and relationship with the planet.
Among early signatories are Heathrow Airport, Coutts, Bank of America, HSBC and AstraZeneca.
The treaty is part of the Sustainable Markets Initiative that the prince launched last January as a forum to encourage business to operate with greener principles. It will encourage the private sector to earmark new funding for ‘‘natural capital’’ projects such as landscape restoration, reforestation and carbon offsetting.
‘‘For the prince, the Terra Carta represents the absolute essence of a recovery plan,’’ a royal source said. ‘‘It has been designed by the private sector for the private sector, and he believes it will be the catalyst for the biggest changes in our future development.’’
Brian Moynihan, CEO of Bank of America, said: ‘‘The Terra Carta is a comprehensive road map for the private sector to help drive toward a sustainable future.
‘‘The private sector can marshal the resources that will be needed to reach the climate, biodiversity and development goals.’’