Charles called on world leaders to give their support to the ‘Terra Carta’ – a new initiative providing the basis of a sustainable recovery plan for Nature, People and Planet at the heart of global value creation.
The Terra Carta (Earth Charter), ‘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.’
Devising its name from the historic Magna Carta, 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.’
The Terra Carta statement of intent is as follows:
1. The Terra Carta will serve as the guiding mandate for HRH The Prince of Wales’s Sustainable Markets Initiative (SMI).
2. The Terra Carta aims to provide an integrated roadmap towards an inspiring, inclusive, equitable, prosperous and sustainable future for the sake of present and future generations; one that will harness the power of Nature combined with the transformative power, innovation and resources ofthe private sector.
3. 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.