The Prince of Wales will launch an appeal for businesses to invest 10 billion dollars (£7.3billion) in “natural capital” which will contribute to protecting the planet. The heir to the throne will pitch the new 10-year plan called Terra Carta, or Earth Charter, at a global environmental conference.
During the summit, Charles will outline the plan that puts “nature, people and planet at the heart of global value creation”.
The project has been compared to the Magna Carta, a royal charter dating back to 1215 that established the concept that no one is above the law and served as the ground work for human rights.
Charles will also set out his “recovery plan” for the environment that will attribute fundamental rights to nature.
Some entities have already thrown their support behind Terra Carta, with former Chief Design Officer of Apple Inc Sir Jony Ive set to design the document.
Companies backing the plan include Bank of America, AstraZeneca, HSBC, Heathrow Airport and BP.
In his foreword to the Terra Carta, Charles wrote: “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.”
He will present the project today at the One Planet Summit which will be based in Paris.
The heir is expected to tell representatives “…sustainability is a choice. If we make it a part of our core values it will define our purpose, determine our choices and drive our actions.”
During the virtual summit, Charles will say: “Today, I am making an urgent appeal to leaders, from all sectors and from around the world…to give their support to this Terra Carta – to bring prosperity into harmony with nature, people and planet over the coming decade.
“I can only encourage, in particular, those in industry and finance to provide practical leadership to this common project, as only they are able to mobilise the innovation, scale and resources that are required to transform our global economy.”
He will add: “The Terra Carta offers the basis of a recovery plan that puts nature, people and planet at the heart of global value creation – one that will harness the precious, irreplaceable power of nature combined with the transformative innovation and resources of the private sector.”
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The Prince of Wales is set to name the coronavirus pandemic as an example of resilience and cooperation to fight a crisis.
The document will list nearly 100 recommended private sector business entities that have been proposed by Charles.
Prince Charles has long been a supporter of climate change causes and an outspoken advocate against “destroying” the planet.
Last month, he hit out at farmers for “polluting” the environment with “conventional” farming techniques.
He told Radio 4: “The reason I was drawn to organic farming was mounting concern about what I saw as the overuse of artificial chemicals and fertiliser made from fossil fuels for goodness’ sake.
“The overuse of antibiotics, the overuse of growth-promoting hormones in beef production etc. You have to remember that nature is not a monoculture, it is based on immense diversity. So all these things made me feel that it would end up in tears if it went to far, and that there would be no tomorrow.”
He added: “The ultimate irony is that, in many ways, our own internal micro-biome mirrors nature’s macro-biome.
“So farming in this overt, excessive, conventional way is polluting us as well as nature’s own ecosystems. That’s why I’ve always felt that the polluter should pay.”