June 15, 2021

Prince Charles to host G7 climate meeting as he hopes summit could be 'game changing'

June 10, 2021

The Prince of Wales has described the G7 summit as a "potentially game-changing opportunity" for governments and businesses to work together against climate change.

It has been announced that the prince will host a unique meeting between the leaders of the G7 countries and CEOs from some of the world's leading companies in Cornwall on Friday.

Prince Charles, who has campaigned on environmental issues for over 50 years, will be joined by a delegation of business leaders, including the CEO of Bank of America and the fashion designer Stella McCartney, for the meeting with the G7 leaders to talk about how governments and the private sector can work hand in hand to build a sustainable future.

It will be the first time government leaders and global business figures have met in this way to discuss how they can jointly push ahead together to encourage sustainable investment and innovation.

Ahead of the meeting, the prince met with the CEOs at St James's Palace, joined by the US special presidential envoy for climate - John Kerry, and Alok Sharma, president of the 26th United Nations Climate Change Conference.

The prince wanted to meet the CEOs ahead of the Cornwall meeting to make sure they were all aligned in the concepts they want to discuss with the political leaders.

Opening the discussion, the prince said: "We do have a potentially game-changing opportunity to drive forward the partnerships between government, business and private sector finance that are of course absolutely vital if we are to win the battle to combat climate change and biodiversity loss."

He went on to say: "So working together, and in the closest possible partnership with governments, we can move - and actually are moving or beginning to - mountains.

"As I'm afraid I've been trying to say for several decades, unless we actually unlock private sector resources, innovation and finance, with the public sector setting a framework of incentives and regulation we just don't stand a chance of solving the existential crisis we have engineered over the years."

The CEOs have all signed up to the Prince of Wales's Terra Carta, or Earth Charter, a set of principles designed to provide a roadmap for a green future.

The business leaders represent sectors such as transport, banking, pharmaceuticals and fashion, and include the CEOs of Bank of America, HSBC, NatWest, AstraZeneca, and Heathrow Airport

In the past 18 months, the Prince of Wales has convened groups of business leaders to talk about what practical changes can be put in place to accelerate the push for net-zero emissions.

It includes more targeted investment in innovative green technology and more joined-up thinking between countries when it comes to setting targets in areas such as electric vehicles.

It's hoped the ideas will make it more attractive for businesses and investors to commit to a sustainable business plan and in areas such as fashion make buying "green" products less costly for shoppers.

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