Prince William warns humans must avoid climate change disaster

Charles called on world leaders to give their support to the ‘Terra Carta’ – a new initiative providing the basis of a sustainable recovery plan for Nature, People and Planet at the heart of global value creation. 

The Terra Carta (Earth Charter), ‘provides a roadmap to 2030 for businesses to move towards an ambitious and sustainable future; one that will harness the power of Nature combined with the transformative power, innovation and resources of the private sector.’

Devising its name from the historic Magna Carta, the Terra Carta aims to ‘reunite people and planet, by giving fundamental rights and value to Nature, ensuring a lasting impact and tangible legacy for this generation.’

The Terra Carta statement of intent is as follows: 

1. The Terra Carta will serve as the guiding mandate for HRH The Prince of Wales’s Sustainable Markets Initiative (SMI). 

2. The Terra Carta aims to provide an integrated roadmap towards an inspiring, inclusive, equitable, prosperous and sustainable future for the sake of present and future generations; one that will harness the power of Nature combined with the transformative power, innovation and resources ofthe private sector. 

3. The aims of the Terra Carta will be met by: 

i. Furthering, and where possible exceeding, the goals and targets outlined in the Paris Climate Agreement, the Sustainable Development Goals, the Convention on Biological Diversity, the Convention to Combat Desertification and the UN Convention on the Law of the Sea. 

ii. Broadening the definition of sustainability, beyond simply net zero transition, to be inclusive of Nature, People, Planet, Equality and Prosperity. 

iii. Supporting the protection and restoration of a minimum of 30% of biodiversity, on land and below water, by 2030 and 50% by 2050. 

iv. Making global investment and financial flows consistent with a pathway towards low greenhouse gas emissions, climate-resilient development and Natural Capital/biodiversity restoration (on land and below water). 

v. Encouraging coordination, cooperation and cohesion within corporate and public-private-philanthropic domains. 

vi. Leveraging consumer and shareholder demand to drive sustainable transition and investment within the private sector. 

4. The Terra Carta recognizes that each industry, business and investor needs to chart its own course to a more profitable and sustainable future, and that global, regional, local and industry variance exists. With the sustainable direction increasingly clear, the Terra Carta aims to encourage and provide a voluntary framework for each actor to accelerate along their respective transition journeys. 

5. In targeting a global private sector and a diverse multi-industry audience, it is recognized that actions outlined by the Terra Carta will not apply equally to all. At the same time, to reach a sustainable future, the systems-level shift required relies on the leadership, resources and interdependence of diverse global, regional and local actors.With this multiplicity of actors, pulling in the same direction is critical. 

6. The Terra Carta recognizes that no one action, industry or actor is, in itself, sufficientto solve the climate and biodiversity crisis. A multitude of actions, initiatives and investments are necessary. The more coordinated, aligned and mutually reinforcing these efforts are,the higher the likelihood of success. 

7. The Terra Carta will be open to affirmation from any CEO, or equivalent, in any sector, that wishes to support the private sector’s role in helping to build an inspiring, inclusive, equitable, prosperous and sustainable future. In 2021, COP15 (biodiversity) and COP26 (climate) will be critical milestones to demonstrate private sector commitment and action. 

8. The Terra Carta is to be a living document that will be reported on and updated annually. This will allow the Terra Carta to keep up with global progress, technological evolution and a shifting investment landscape while seizing rapidly emerging opportunities developing around the world.