Prince Charles calls on companies to sign up to Terra Carta to protect the planet

The Prince of Wales is set to launch a Magna Carta-style charter to “put nature at the heart of big business” as he warns the climate is at a “tipping point."

Charles will use the charter to encourage the private sector to safeguard the planet by adopting sustainability and invest 10 billion dollars (£7.3 billion) in “natural capital”.

At a global environmental summit, he will urge industry and business leaders to sign up to his 10-year project that puts “nature, people and planet at the heart of global value creation”.

The initiative called Terra Carta, or Earth Charter has parallels with the Magna Carta – the touchstone for human rights and modern democracy – and aims to lay out a “recovery plan” towards sustainability that gives fundamental rights and value to nature.

In his foreword to the Terra Carta, the prince 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.”

Charles will launch his project today at the One Planet Summit, being staged in Paris, when he is expected to tell delegates “…sustainability is a choice. If we make it a part of our core values it will define our purpose, determine our choices and drive our actions.”

Speaking virtually the prince will say: “Today, 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.

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Organisations supporting the project include Bank of America, AstraZeneca, HSBC, Heathrow Airport and BP.
PA

“I can only encourage, in particular, those in industry and finance to provide practical leadership to this common project, as only they are able to mobilise the innovation, scale and resources that are required to transform our global economy.”

Sir Jony Ive, credited with designing some of the best loved gadgets of the modern age including Apple’s iPhone, iPod, and iPad, has designed the layout of the charter document.

Charles’ Sustainable Markets Initiative – launched last year to help accelerate the world’s transition to a sustainable future – created the charter and a Natural Capital Investment Alliance.

The Alliance aims to encourage 10 billion dollars worth of commitments from founding Terra Carta supporters by 2022, which will be invested in companies and projects providing solutions to preserve and restore natural capital – renewable and non-renewable resources like clean air and water and fertile soils.

Initiatives could include reforestation or landscape restoration, as a means to reduce emissions, restore biodiversity, and boost sustainable economic growth and job creation.

Organisations supporting the project include Bank of America, AstraZeneca, HSBC, Heathrow Airport and BP.

The prince will go on to say: “The Terra Carta offers the basis of a recovery plan that puts nature, people and planet at the heart of global value creation – one that will harness the precious, irreplaceable power of nature combined with the transformative innovation and resources of the private sector.”

Charles will highlight how nations have mobilised to combat coronavirus as an example of what can be achieved if there is a will.

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