WATCH: Pr. Charles: . . we will need to see profound change

WATCH: Pr. Charles: . . we will need to see profound change

Postby Oscar » Fri Jul 03, 2015 1:03 pm

WATCH: Prince Charles: To limit climate change we will need to see profound changes

[ http://www.theguardian.com/environment/ ... CMP=ema-60 ]

Read the heir to throne’s ‘Rewiring the economy’ speech in full, in which he addresses the challenges of climate change, sustainable development and economic reform
Watch Prince Charles’s speaking at the University Of Cambridge Institute For Sustainability Leadership event on Thursday at St James’ Palace, London

Friday 3 July 2015 11.46 BST Last modified on Friday 3 July 2015 12.02 BST

EXCERPT:

The need to join up disparate efforts on finance, sustainable development, climate change and a whole range of related challenges has been apparent for decades. But the irresistible power of “business as usual” has so far defeated every attempt to “rewire” our economic system in ways that will deliver what we so urgently need.

Yet if we are to limit climate change, conserve resources and keep ecosystems functioning, while at the same time improving the health and wellbeing of billions of people – including the several billion who are projected to be added to our population later this century – then we will need to see profound changes. That is why 2015 is just the start of a longer and deeper process, and why 2016 will see the start of the really hard work.

We will need to achieve an unprecedented level of cooperation and integration, not only in relation to building synergy between ecological, social and economic goals, but in finding ways to integrate the action of different groups of actors in the economy.

Governments will have to set targets, signal the direction of travel and create the fiscal conditions necessary for attracting the right kind of finance towards the correct priorities. Those who run our financial systems and lead our companies will need to develop strategies and work together for successful implementation. And citizens across the world will need to understand why change is necessary. It is not, therefore, simply the individual actions of the different actors that are going to be crucial, but the way they are coordinated to achieve the collective and integrated impact required.

So with an eye to addressing these challenges in 2016 and beyond, I am delighted that today the University of Cambridge Institute for Sustainability Leadership has launched its “Rewiring the Economy” initiative, setting out an integrated plan based on 10 tasks across government, finance and business that could help align efforts to meet rising human demands within the capacity of the Earth’s essential life support systems.

These 10 tasks relate to, among other things, how best to use the hundreds of billions of pounds of subsidies allocated by governments each year, including those that incentivize the production and use of fossil fuels. Given the importance of achieving the transition to a low-carbon economy in an orderly and well-managed fashion, I was particularly interested in the recent estimate from the International Energy Agency – as we heard earlier from [IEA chief economist] Fatih Birol – that shifting these subsidies could cut global emissions by about 13%.

The Cambridge plan also focuses on private finance that works for the long-term, rather than mainly for quarterly returns, and emphasizes the importance of businesses adopting visionary and transformative new business models.

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The question now is how we can persuade all businesses to reconsider all aspects of their supply chains, look again at how they engage with markets and consumers and bring forward the kinds of strategies that will deliver a net positive impact for both people and Nature.
Incidentally, Ladies and Gentlemen, as a brief point aside: I can only welcome and commend The Guardian’s “Keep it in the ground” campaign, which has proved so clear, compelling and powerfully resonant with many millions of people around the world. The Keep it in the ground campaign is the first action of its kind from such a newspaper, and has – like the broader fossil fuel divestment movement – focused the mind very considerably as to the scale of the transition before us.

I do not doubt what a complex arena we are stepping into, but the “divest/invest” movement has recently seen significant and increasingly broad-based support, and has sharpened investors’ focus, not just on the risks of holding hydrocarbon stocks within their portfolios, but also to the ever more pressing need to divert vastly more capital into clean energy, low-carbon investments and infrastructure projects.

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To do this will require us to take a longer view; to see that we urgently need to rewire our economy – to tilt policy and finance in favour of sustainable, low carbon business models and unlock real business leadership.

The 10 tasks set out in the Cambridge plan represent an ambitious set of actions that could positively shape our future direction. I can only hope that all of you will be able to consider what role you can play in implementing these actions, and that you will work with my organizations as you embark on this vital journey. Should we succeed, I have no doubt that our children and grandchildren will have much to thank us for.

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REPORT: Rewiring the Economy is the University of Cambridge Institute of Sustainability Leadership (CISL)’s ten-year plan to lay the foundations of a sustainable economy – 2015:
[ http://www.cisl.cam.ac.uk/publications/ ... -ten-years ]
Oscar
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