Prince Charles has long been known for his interest in agriculture and the environment more generally. Today he has taken a step further into the corporate world, by launching the Terra Carta together with some of the world’s leading CEOs.
In response to the “immense destruction to the planet” he is calling for businesses to play their part in addressing the environmental crisis.
Evoking the Magna Carta, seen as the establishment of modern civil rights in the UK, the new environmental charter sets out 10 Articles for signatories to commit to.
These Articles cover the common areas of focus for those working in ESG, such as manufacturing processes, corporate governance, stakeholder engagement, the role of consumers, sustainable energy, scalability and market incentives.
In addition to the Charter, HRH is also launching today the Natural Capital Investment Alliance, an initiative to mobilise USD 120 trillion of investment.
As always, the detailed analysis will follow in how companies put these ambitions in to day-to-day practice and what funds are committed as part of this Alliance. However, Prince Charles has previously shown himself to be willing to engage in politics and the economy more than his mother, and today’s announcement is a clear sign that this will continue during his reign.
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.