The Prince of Wales has hailed the G7 summit as a ‘game-changing opportunity’ to help create a partnership between governments, businesses and private financial institutions to finally tackle the ‘existential crisis’ of climate change.
Charles’ comments were made to a group of chief executives and business leaders – including fashion designer Stella McCartney – gathered by the Prince in preparation for a meeting with world leaders in Cornwall on Friday ahead of the G7 summit.
Meeting at St. James’ Palace, the 72-year-old prince told executives: “We have a potentially groundbreaking opportunity to foster the partnerships between government, business and the private sector, which are, of course, absolutely essential if we are to want to win the title. fight to combat climate change and loss of biodiversity.’
The Prince of Wales, 72, met business leaders including Stella McCartney, 49, at London’s St James’ Palace today in preparation for Friday’s G7 summit
Charles’ comments were made to a group of chief executives and business leaders – including fashion designer Stella McCartney (pictured in a blue dress)
He continued: ‘So by working together, and in the closest possible collaboration with governments, we can move mountains — and actually move or start.
“As I’m afraid I’ve been trying to say for decades, unless we actually unlock private sector resources, innovation and financing, while the public sector establishes a framework of incentives and regulation, we just don’t stand a chance of solving the problem.” existential crisis that we have caused over the years.’
At the start of the year, Charles launched his ambitious Magna Carta-style charter to encourage the private sector to protect the planet by adopting sustainability and investing $10 billion (£7.3 billion) in ‘natural capital’ .
Prince Charles praised meeting with world leaders in Cornwall as a ‘game-changing opportunity’ to tackle the climate crisis and invest in the planet
Prince Charles today announced the Terra Carta Transition Coalitions, an organized, global collective working together to drive investment in a sustainable future for nature, people and the planet, signed by business leaders including Stella McCartney.
And he will likely be invited to COP26, the UN summit on climate change to be held in Glasgow this autumn, to speak on the subject of environment and climate change, issues he has been advocating for decades.
The prince told the business leaders in the palace: “We are all committed, in our own way, to dedicating every fiber of our being to ensure that this is truly the year when we turn a corner and start winning this battle.” .
“The G7 is of course important both on its own and as a stepping stone to the G20 and then COP26; and it’s hugely encouraging to see everyone in this room joining forces to make sure ambition translates into action – finally.”
The CEOs in the room represented more than 300 global business leaders who are part of the ‘Coalition of the Willing’ convened by the Prince as part of his Sustainable Markets Initiative.
Prince Charles announced the Terra Carta Transition Coalitions, an organized global collective to encourage the private sector to protect the planet
Prince told business leaders the G7 summit is a ‘stepping stone’ to ensure their ambition translates into action
After the meeting, the group of business leaders, including AstraZeneca CEO Pascal Soriot, and his NatWest counterpart Alison Rose, posed for a photo with Charles and US Presidential Special Envoy for Climate, Secretary John Kerry, and COP26 Chairman Alok Sharma, who also took part in the discussions.
The group chatted informally in the gardens of Clarence House, then Stella McCartney said she traveled to Cornwall “to ask all these powerful people in the room to deviate from convention” and adopt new practices to make her industry more sustainable. .
The designer said: ‘I think one of the biggest problems we have in the fashion industry is that we are not controlled in any way. So we don’t have any rules or legislation that will, you know, put a hard stop on our industry from having a better focus on the future of the planet.
“So I think we need to be encouraged, we need to look at taxes to work in a better way. So I’m here to get a little bit political.’
The CEOs will present three initiatives to G7 leaders to help drive change towards a sustainable world.
US Presidential Special Envoy for Climate John Kerry (left) talks with EY CEO Carmine Di Sibio (right) and designer Stella McCartney
They include the need for private funding to fund green innovation, guidance from governments on future policies, giving the private sector the confidence to support a green transition.
And 10 Terra Carta Transition Coalitions aimed at stimulating sustainable investment and industrial action for transition in 10 of the most emitting and polluting industries.
Prime Minister Boris Johnson supports Charles’ meeting of business leaders, saying: “To halt climate change and reverse biodiversity loss, all parts of our society and economy must work together – from shipping to aviation and banking.
“The private sector plays a vital role in accelerating the shift to clean, green technology and creating the jobs of the future, and I am delighted that so many major companies are coming together under the Prince of Wales initiative to support that endeavour. .
“I will put the climate crisis at the center of this weekend’s G7 summit in Cornwall as we work together to build better and greener from the pandemic.”