Prince Charles and WEF Launch Sustainable Markets Initiative.

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Prince Charles and WEF Launch Sustainable Markets Initiative.

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 warns 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 the Climate Week 2020 in September, he urges participants and leaders to make a 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 with a balance of 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 of the following imaginative actions:

  1. Shifting to sustainability and placing it at the centre of every business model;
  2. Outlining transitions to decarbonization and achieve net-zero emissions;
  3. Re-imaging industries through the lens of sustainable markets through creating new industries, products, services, etc.;
  4. Invest in game-changing technologies while eliminating barriers to progress;
  5. Reversing perverse subsidies and improving incentives for sustainable alternatives;
  6. Invest in science, technology, engineering, and math (STEM) and research and development (R&D), focusing on sustainable solutions and alternatives;
  7. Building conservation and nature-based solutions, circular bio-economy, ecotourism, and green infrastructures;
  8. Urging all corporations to adopt environmental, social, and governance (ESG) methods and aligning investments with SDG;
  9. Making sustainable options for consumers and
  10. 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 towards over the next year;

Creating sustainable markets and businesses is a way to fight climate change and building resilience against it.

To learn more about the Sustainable Markets, click on button the link below:

Source Citations:

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/

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