For decades Prince Charles has been advocating for the environment. His unique position makes him an influential supporter of sustainability and actions that address global problems such as climate change, deforestation, and pollution.
Speaking at Davos for the World Economic Forum 2020 in January 2020, just before the COVID-19 global outbreak, he warned business leaders of the approaching catastrophe that is climate change if they don’t change ways. “What is the point of extra wealth if you can do nothing except watch it burn?” he asked.
During Climate Week 2020 in September, he urged participants and leaders to take swift and immediate action to tackle climate change, warning that the climate crisis will dwarf the impacts of coronavirus.
During the Davos 2020 event with the theme, Stakeholders for a Cohesive and Sustainable World, he launched the Sustainable Markets Initiative in partnership with the World Economic Forum (WEF).
The Sustainable Markets Initiative is a new economic model balancing natural, social, human, and financial capital. Both investors and consumers have access to sustainable alternatives. The sustainable market framework offers a 10-point action plan comprising the following imaginative actions:
- Shifting to sustainability and placing it at the centre of every business model;
- Outlining transitions to decarbonization and achieving net-zero emissions;
- Re-imaging industries through the lens of sustainable markets through creating new industries, products, services, etc.;
- Invest in game-changing technologies while eliminating barriers to progress;
- Reversing perverse subsidies and improving incentives for sustainable alternatives;
- Invest in science, technology, engineering, and math (STEM) and research and development (R&D), focusing on sustainable solutions and alternatives;
- Building conservation and nature-based solutions, circular bio-economy, ecotourism, and green infrastructures;
- Urging all corporations to adopt environmental, social, and governance (ESG) methods and align investments with SDG;
- Making sustainable options for consumers and
- Connecting investments to investable using platforms that can rapidly scale solutions. It is time to align sustainable solutions with funding to transform the marketplace. To do this would entail gathering innovators, investors, and decision-makers to chart the course and commit to tangible actions over the next year;
Creating sustainable markets and businesses is a way to fight climate change and build resilience against it.
To learn more about Sustainable Markets, click on the button the link below:
Davos 2020: Prince Charles offers stark warning over ‘approaching catastrophe’. (2020 January 22). BBC. Retrieved from https://www.bbc.com/news/av/world-51215214
Climate Week: Prince Charles calls for ‘swift’ action on climate change. (2020 September 21). BBC. Retrieved from https://www.bbc.com/news/uk-54229229
World Economic Forum Annual Meeting. (2020). World Economic Forum. Retrieved from https://www.weforum.org/events/world-economic-forum-annual-meeting-2020/about
HRH Prince of Wales Announces 10-Point Plan and Sustainable Markets Initiative to Kickstart Decade of Delivery at the World Economic Forum Annual Meeting 2020. (2020 January 22). World Economic Forum. Retrieved from https://www.weforum.org/press/2020/01/hrh-prince-of-wales-announces-10-point-plan-and-sustainable-markets-initiative-to-kickstart-decade-of-delivery-at-the-world-economic-forum-annual-meeting-2020-e5f9d4ecee/
Sustainable Markets. Retrieved from https://www.sustainable-markets.org/