PRINCE CHARLES CALLS FOR A RE-WIRING OF WORLD ECONOMIC SYSTEM

Jul 02, 2015

By Michael Kramer

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The heir to the British throne says “profound changes” to the world’s economic system are needed – to avert an environmental catastrophe.

The comments from Prince Charles were made in an uncompromising speech to an audience of politicians and senior business leaders.

Charles argued that ending taxpayer subsidies enjoyed by coal, oil and gas companies – could reduce carbon emissions accelerating climate change – by an estimated 13 per cent.

Speaking at the University of Cambridge, the Prince complained that ” the irresistible power of ‘business as usual’ has so far defeated every attempt to ‘rewire’ the global economic system – in ways that will deliver what we so urgently need.”

Far ranging political momentum on climate change has been building in recent months.

Pope Francis has also been critical of the damage done by the world’s current economic model.

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