The Prince of Wales has launched a charter calling on business and industry to lead the fight against the climate crisis.
Speaking at an environmental summit this week he urged those within the private sector to sign up to his Terra Carta (Earth Carta) – a set of principles that “put nature, people and planet at the heart of global value creation”.
In his foreword to the Terra Carta, he writes: “If we consider the legacy of our generation, more than 800 years ago, Magna Carta inspired a belief in the fundamental rights and liberties of people.
“As we strive to imagine the next 800 years of human progress, the fundamental rights and value of nature must represent a step-change in our ‘future of industry’ and ‘future of economy’ approach."
The aims of the Terra Carta will be met by:
- 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.
- Broadening the definition of sustainability, beyond simply net-zero transition, to be inclusive of nature, people, planet, equality and prosperity.
- Supporting the protection and restoration of a minimum of 30 per cent of biodiversity, on land and below water, by 2030 and 50 per cent by 2050.
- 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).
- Encouraging coordination, cooperation and cohesion within corporate and public-private-philanthropic domains.
- Leveraging consumer and shareholder demand to drive sustainable transition and investment within the private sector.
Compass Group PLC welcomed the launch of the Terra Carta. Dominic Blakemore, CEO, Compass Group PLC said: “We take our responsibility seriously as a global business to positively contribute to a sustainable future for individuals, communities and the planet. Our strategy to reduce environmental impact focuses on minimising food waste, increasing plant based menus and working closely with our clients and suppliers on decarbonisation right through the value chain.”
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