0n 11 January, at the One Planet Summit, the Prince of Wales launched what he is calling ‘Terra Carta’ - or Earth Charter - aiming to “bring prosperity into harmony with nature, people and plant over the next decade”. The Charter is being launched alongside a fund run by the Natural Capital Investment Alliance, which aims to mobilise $10 billion towards natural capital by 2022. The Prince is urging major global companies to back a more sustainable future and do more to protect the planet, as he marks his own 50 years of environmental campaigning.
The new fund aims to “harness and preserve natural capital” as a way to reduce greenhouse gas emissions, restore biodiversity and create jobs by investíng in areas such as bioenergy, forestry, regenerative farming and using waste as a resource. Companies supporting the launch of the Terra Carta include BlackRock, Bank of America and HSBC. While some signatories are big investors or financiers for the fossil fuel industry and sectors linked to biodiversity loss, the commitments signal an intention to transition to a low-carbon future that also backs biodiversity restoration.