Prince Charles calls on public and private sector to 'unlock trillions' for sustainability eco-drive

The Prince of Wales is looking to the public and private sectors to help build a more sustainable future

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Charles has announced that business leaders from across the globe will gather, via his Sustainable Markets Initiative (SMI) and Terra Carta Action Forum, in Sharm El Sheikh, Egypt, on November 7 and 8.

The future King's plans come despite a cost-of-living crisis hitting the UK, as Brits face recession and eye-watering energy bills later this year.

But Charles is adamant his forum will still take place at this year’s Cop27 climate talks – and he hopes to accelerate the transition to a sustainable future.

Prince Charles
Prince Charles
The Prince of Wales and the Duchess of Cornwall
The Prince of Wales and the Duchess of Cornwall

Charles said: “Over the past year, we have seen the increasingly devastating effects of climate change as the world warms, the seas rise and people across the planet suffer the disastrous consequences.

“In 75 days the world meets in Egypt for Cop27, where we must focus on how to deliver the promises made in Glasgow to unlock trillions of dollars of private sector investment to transition the global economy to a more just, sustainable and affordable future.”

The work of the SMI industry task forces and the winners of the inaugural Terra Carta Design Lab will be among the forum events which will coincide with the World Leaders Summit.

Bank of America chief executive and SMI co-chairman Brian Moynihan said: “The private sector is leading the way in helping drive a just transition to a low-carbon, sustainable future for nature, people and planet.

“Working with the public sector, we can accelerate progress toward clean-energy security and a just transition.

“Cop27 is another opportunity to continue our work.”

The forum was first held at Cop26 in Glasgow and its various events included a reception of global mayors who focused on accelerating transition in cities, a listening session with indigenous groups, plus a sustainable fashion exhibit by designer Stella McCartney.