The Prince of Wales is urging companies to invest in a more sustainable future and contribute more towards the protection of the planet, as he completes 50 years of campaigning for environmental protection. Prince Charles wants companies to join the initiative that he has named as "Terra Carta", the Earth charter. Reportedly, the charter aims to raise £7.3 billion for investing in the natural world.

According to sources knowledgeable of the matter, during his virtual address to the One Planet Summit on Monday, the prince was expected to announce that Terra Carta would be utilizing the irreplaceable power of nature. He hopes that the new charter will reunite people and the planet.

It has been reported that, the prince is due to say that he intends to encourage particularly those who are part of industry and finance to facilitate practical leadership to this common project, as only they are the ones who are capable of mobilizing the innovation, scale, and resources that are essential for transforming the global economy.

In his introduction to Terra Carta, Prince Charles writes that if the legacy of our generation is to be considered, over 800 years ago, Magna Carta inspired the belief in fundamental liberties and rights of people. And while imagining the upcoming 800 years of human progression, the fundamental rights and value of nature must represent a major transformation in the approach towards 'future of industry' and 'future of economy'.

Prince Charles has earlier stated that people considered his idea to be absurd when he first began talking about environmental issues back in the 1970s.

Enterprises that are supporting the rollout of the ambitious Terra Carta include Bank of America, HSBC, and BlackRock. While a couple of signatories are also known to be big financiers or investors for the global fossil fuel sector and industries that are linked to loss of biodiversity worldwide, their commitments signal towards an intention to transition the world towards future that is low-carbon and also supports biodiversity restoration.

Source credit: https://www.bbc.com/news/uk-55613924