Economy

Prince Charles urges business to put planet and people first

Prince Charles urges business to put planet and people first”

"I hope that businesses across India sign up to the Terra Carta to play their part in putting nature, people and planet at the heart of global value creation".

Designed by former chief design officer at Apple, Sir Jony Ive, the 17-page Terra Carta sets out almost 100 specific actions for businesses to sign up to, which have been developed in consultation with global business leaders through the Sustainable Markets Initiative launched in Davos in 2020.

Bank of America, AstraZeneca, HSBC and BP are among the companies backing the Terra Carta, which was designed by Apple Inc's former chief designer Jony Ive and his company LoveFrom.

He told the One Planet Summit: "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".

The announcement comes ahead of the One Planet Summit in Paris later today, a largely virtual event hosted by French President Emmanuel Macron with speeches expected from the likes of UN Secretary-General Showing results for António Guterres, German Chancellor Angela Merkel, and European Commission President Ursula von der Leyen.

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It aims to assign fundamental rights and value to nature in the same way the Magna Carta set out what people are entitled to. So that's why it's critical to heal the natural world as well as ourselves.

The Terra Carta aims to raise $10bn (£7bn) in green investment before 2022 through the Natural Capital Investment Alliance.

The Terra Carta serves as the "guiding mandate" of the SMI, according to a statement issued by the SMI on Monday.It will be updated annually over the next ten years.

It will direct money to businesses that try to harness or preserve the power of nature, such as those using nature-based materials or deploying zero waste strategies. The charter puts sustainability at the heart of the private sector. "HRH Prince of Wales's leadership and commitment has created a spirit of possibility that business leaders are proud to join".

A lifelong environmentalist and heir to the British throne, the Prince of Wales warned at last year's World Economic Forum in Davos, Switzerland that the planet faces disaster without a revolution in the way the global economy and financial markets work.



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