Prince Charles “Terra Carta” gets support from Bank of America and BP

Prince Charles "Terra Carta" gets support from Bank of America and BP
The Prince of Wales calls Terra Carta, or the Earth Charter, and urges other companies to adhere to practical measures to put the planet on A more sustainable path. One goal is to direct $ 10 billion into green causes by 2022.

The charter, which will be unveiled at the One Planet summit in Paris on Monday, aims to protect the world’s natural resources and accelerate the transition to a greener future. It contains nearly 100 actions companies can take, including a commitment to achieving net-zero emissions by or before 2050, and protecting natural ecosystems.

Black stone (BLK)And the AstraZeneca (AZN), EY, Unilever (The), Heathrow Airport, HSBC (HBCYF) Fidelity International also supports this initiative.

Prince Charles said, “I can only encourage, in particular, industry and finance professionals to provide practical leadership for this joint venture, because they alone can mobilize the innovation, scale and resources required to transform our global economy.” Declaration.

Environmentalists lifelong and heir British throneThe Prince of Wales warned at the World Economic Forum last year in Davos, Switzerland that the planet faces disaster without a revolution in the way the global economy and financial markets work.

“What is the use of all the extra wealth in the world, gained from” business as usual, “if you can’t do anything with it except to watch it burn in catastrophic conditions?” He said in an exclusive interview with CNN at the annual meeting of CNN. Global elite.

At that event, he launched the Sustainable Markets Initiative (SMI), co-chaired by Bank of America CEO Brian Moynihan, to place people and the planet at the center of global value creation.

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Terra Carta serves as the “guiding mandate” for the SMI, According to a statement released by SMI on Monday. It will be updated annually for the next ten years.

One of the initiatives emerging from the charter is the Private Sector Alliance This aims To invest $ 10 billion in “natural capital” by 2022, including renewable agriculture and biofuels.

Swiss bank Lombard Odier, Mirova’s asset manager Funds Jointly managed by HSBC (HBCYF) And Pollination Group, a climate consultancy, are founding partners of this initiative, called the Natural Capital Investment Alliance.

It will direct the money to companies that try to harness or conserve the power of nature, such as those that use nature-based materials or deploy zero waste strategies. It will also seek to benefit from the growing number of companies investing in sustainable development projects in order to offset carbon emissions and reach net zero goals.

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