Prince Charles: 'Systemic shifts' needed in the economy to protect our planet

2 November 2021, 12:12 | Updated: 2 November 2021, 13:07

The Prince of Wales addressed leaders at COP26.
The Prince of Wales addressed leaders at COP26. Picture: Alamy

By Sophie Barnett

The Prince of Wales has told world leaders at COP26 it is time to implement "systemic shifts" in the world economy in order to reward environmental protection.

Listen to this article

Loading audio...

Speaking at the COP26 summit in Glasgow - after world leaders struck an agreement to end deforestation by 2030 - the prince called for a re-engineering of the global financial system.

The global figures, covering 85% of the world's forests, all agreed yesterday to tackle deforestation by 2030 - committing to halt and reverse deforestation and land degradation.

The Prince of Wales thanked the 110 world leaders for their "bravery, courage and commitment" in protecting their forests during his speech.

Countries with the highest deforestation rates - including Brazil and Indonesia - are among those who agreed to tackle the problem.

Downing Street said the pledges were backed by £8.75 billion of public funding with a further £5.3 billion in private investment.

Read more: Queen tells COP26 leaders 'we're doing this not for us but for our children'

Read more: Cop26: India says it will only aim for net zero by 2070 in major blow to Boris Johnson

The commitment, to be formally announced at an event convened by Boris Johnson, has been welcomed by campaigners and experts, in particular the recognition of the role of indigenous people in protecting forests.

Prince Charles told the summit on Tuesday: "We will hear from leaders in the financial sector, with ambitious plans to achieve this goal.

"After all, if we are to restore the critical balance between people and planet, we need to protect, restore and invest in nature."