Prince Charles unveiled the charter, called Terra Carta, at the One Planet Summit organized by France as part of the Sustainable Markets Initiative (SMI) launched by him in January last year
Britain’s Prince Charles on Monday launched a special appeal to Indian businesses to sign up to a new green charter, which he launched as a roadmap to 2030 to enable businesses to move towards an ambitious future and durable.
The 72-year-old heir to the British throne unveiled the charter, called Terra Carta or Earth Charter, during the One Planet Summit organized by France as part of the Sustainable Markets Initiative (SMI) launched by him in January of last year at the Annual Meeting of the World Economic Forum in Davos.
“As one of the world’s largest economies, India and its organizations have a crucial role to play in solving our climate and biodiversity crisis. I hope businesses across India will join Terra Carta to play their part in placing nature, people and the planet at the heart of global value creation, ”Prince Charles said.
It follows the earlier formation of an Indian Council of SMI and a recently convened roundtable with Indian private sector leaders on December 16, 2020. This was the outcome of its previously convened meeting of Indian business leaders. in Mumbai on November 14, 2019, a visit to India.
Indian solar power company ReNew Power is on an initial list of more than two dozen international companies already signing the charter, including AstraZeneca, Unilever, Bank of America, EY and BP.
The Terra Carta, modeled on the 13th century Magna Carta Royal Bill of Rights, follows the prince’s call for a “Marshall-type plan for nature, people and the planet” during Climate Week in September 2020.
The goal is to harness the power of nature combined with the transformative power, innovation and resources of the private sector.
“Today I am making an urgent appeal to leaders, from all sectors and around the world, to support this ‘Terra Carta’ – to bring prosperity into harmony with nature, people and land. planet over the next decade, ”Mr. Charles told me.
“I can only encourage, in particular, the actors of industry and finance to provide practical leadership to this common project, because they are the only ones able to mobilize the innovation, the scale and the necessary resources. to transform our global economy ”, noted Prince Charles in his speech at the One Planet Summit.
‘The’ Terra Carta ‘provides the basis for a recovery plan that places nature, people and the planet at the heart of global value creation – a plan that will harness the precious and irreplaceable power of nature combined with transformative innovation and private sector resources, “he said.
In support of global agreements such as the Paris Climate Agreement, the Convention on Biological Diversity and the Sustainable Development Goals, Terra Carta defines 10 areas of action and includes nearly 100 actions for businesses as a basis for ” a recovery plan that puts nature, people and the planet at the heart of the creation of global value.
The new charter aims to encourage and guide each actor to accelerate their respective transition paths.
The Terra Carta was designed by Sir Jony Ive, former Chief Design Officer at Apple, and his new team at design company LoveFrom.
It is based on a series of recommendations developed over the course of a year in which Prince Charles convened “coalitions of the willing” among global business leaders from all industries across nearly all sectors, challenging them to identify ways to put our planet on a fundamentally more sustainable course.
Together, they have drawn up an ambitious but concrete charter of actions aimed at building a truly sustainable future.
The Terra Carta further aims to unlock the ‘catalytic potential’ of consumer demand and stimulate investment in solutions (nature-based and designed) that respond to climate and biodiversity crises. Over the next 10 years, the Terra Carta will be updated and reported annually by the Royal Initiative on Sustainable Markets to reflect the rapid pace of change and continued progress being made around the world.
“The Terra Carta is a comprehensive roadmap for the private sector to contribute to a sustainable future. By integrating sustainability into our business models, the private sector can bring together the resources that will be needed to meet climate, biodiversity and development goals, ”said Brian Moynihan, Co-Chairman of SMI and Chief Executive Officer of Bank of America and founding partner of SMI.
One of the actions of Terra Carta has already been launched because the Prince’s SMI has created a Natural Capital Investment Alliance to Develop Natural Capital to help us reach a common language on investing in the natural capital so that we can start putting money to work and improving ourselves. the flow of capital.