Davos, Switzerland (CNN Business)

Only a revolution in the way the global economy and financial markets work can save the planet from the climate crisis and secure future prosperity, Prince Charles warned at Davos 2020.

“We simply cannot waste any more time — the only limit is our willingness to act, and the time to act is now.”
“Nature’s contribution to the global economy is estimated to be worth $125 trillion annually,” he said. “Nature is, in fact, the lifeblood of our financial markets and, as such, we must — rapidly — realign our own economy to mimic nature’s economy and work in harmony with it.”

“I come to realize that it is not a lack of capital that is holding us back but rather the way in which we deploy it”

” Nature is not a separate asset class. – Nature is, in fact, the lifeblood of our financial markets – and as such we must rapidly realign our own economy to mimic nature’s economy and work in harmony with it.”

“What good is all the extra wealth in the world gained from business as usual if you can do nothing with it except watching burning catastrophic conditions?”

Prince Charles, who discussed climate change with Trump last summer, met Thunberg for the first time after his speech.

“She’s remarkable, she represents one of the main reasons why I’ve been trying to make all this effort all these years,” he told CNN. “I’ve always worried about the fact that so often, in terms of humanity, we leave things too late so you have to hit a brick wall and experience a catastrophe before anything happens.”

The Prince of Wales used Wednesday’s address to launch his “Sustainable Markets Initiative.” He said urgent action was required to reconfigure markets to put people and the planet “at the heart of global value creation.”

 

Full article & SRC: https://www.cnn.com/2020/01/22/business/prince-charles-climate-davos/index.html