“Here we need a vast military-style campaign to marshal the strength of the global private sector. With trillions at its disposal, far beyond global GDP and with the greatest respect beyond even the governments of the world’s leaders, it offers the only real prospect of achieving fundamental economic transition.”
Acknowledging that tackling climate change “will take trillions, not billions of dollars,” he admitted that some countries, “many of whom are burdened by growing levels of debt, simply cannot afford to go green.”
The prince then proposed a solution beloved by green-minded billionaires around the globe: “putting a value on carbon, thus making carbon capture solutions more economical.”
Carbon credits – which effectively allow companies to buy rights to emit a certain amount of carbon dioxide – have been the focus of climate change jet-setters for years, unlocking the ‘value’ of nature’s commons without forcing the emitters-in-chief to actually cease their environmentally-unfriendly activities.
The prince issued a plea for “countries to come together to create the environment that enables every sector of industry to take the action required,” without specifying what exactly that action might be – only that it must involve a “military-style campaign” if it hopes to achieve success.
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