Monday 11th January 2021
As part of the Sustainable Markets Initiative, HRH The Prince of Wales, announces today the ‘Terra Carta’ – a charter that puts sustainability at the heart of the private sector.
HRH The Prince of Wales’s urgent appeal comes as HRH marks 50 years of campaigning for the environment.
Marking a year since HRH announced his Sustainable Markets Initiative at Davos, the Terra Carta offers the basis of a recovery plan to 2030 that puts Nature, People and Planet at the heart of global value creation.
Speaking at the One Planet Summit in France today – HRH The Prince of Wales will unveil the Terra Carta (Earth Charter) – which 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.
HRH The Prince of Wales is making an urgent appeal to private sector leaders around the world to join this endeavour and to give their support to the Terra Carta.
One of Terra Carta’s actions will be initiated today in Paris, with the creation of a Natural Capital Investors Alliance targeting $10 billion by 2022.
About the Terra Carta
Devising its name from the historic Magna Carta, which inspired a belief in the fundamental rights and liberties of people over 800 years ago, 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.
For Nature, People & Planet
The interdependence between human health and planetary health has never been more clear. As we start a new decade, it is time to focus on the future we wish to build, and indeed leave,for generations to come. Humanity has made incredible progress over the past century, yet the cost of this progress has caused immense destruction to the planetthat sustains us.We simply cannot maintain this course indefinitely. To build a productive and sustainable future, it is critical that we accelerate and mainstream sustainability into every aspect of our economy. To move forward, there must be a center of gravity to catalyze such a monumental effort, and to mobilize the resources and incentives required. Over the past year, through my Sustainable Markets Initiative, I have convened leaders from across industries and almost every sector, and challenged them to identify ways to set our planet on a fundamentally more sustainable trajectory. Together, these outstanding business leaders have seized this opportunity to develop a charter of ambitious, but practical action. With these insights, I am launching this ‘Terra Carta’ as the basis of a recovery plan for Nature, People & Planet. At this historic tipping point, with the lives and livelihoods of present and future generations in mind,the Terra Carta aims to provide a roadmap for acceleration 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. Time is fast running out and we are rapidly wiping out, through mass extinctions, many of Nature’s unique treasure trove of species from which we can develop innovative and sustainable products for the future.Timelines for change must be brought forward if we are to make a transformative shift by the end of the decade and before it is too late. Over the coming years, my Sustainable Markets Initiative will report on and update the Terra Carta regularly in order to reflect the rapid pace of change and the continuous progress being achieved around the world. 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. With this in mind, Nature, of which we are an integral part, lies at the heart of the ‘Terra Carta’. Today must be the decisive moment that we make sustainability the growth story of our time, while positioning Nature as the engine of our economy. To help us succeed, and to complement global efforts across public, private and philanthropic sectors, I am calling on CEOs from around the world to engage and play their part in leading the global transition.To guarantee our future, we have no other choice but to make each day count – and it must start today. 11TH JANUARY 2021
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Recognize the importance of ‘local’ – local traditions, languages and cultures along with local products, jobs and sustainability – and how these ‘locals’ connect and support each other in the wider tapestry of regional and global systems.
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.
The Terra Carta recognizes that no one action, industry or actor is, in itself, sufficient to solve the climate and biodiversity crisis. A multitude of actions, initiatives and investments are necessary.
The Terra Carta is to be a living document that will be reported on and updated annually.