Britain’s Prince Charles has urged business leaders to act with “wartime urgency” to save the world’s rainforest; calling President Bharrat Jagdeo’s initiative on climate change “one of the most optimistic developments” on the issue.
According to a press release from the Government Information Agency (GINA) Prince Charles made these comments in his address to almost 300 of London’s most influential investors and representatives from some of the world’s largest companies at a recent meeting. The Prince also drew attention to work by Lord Nicholas Stern and others which pointed out that avoiding deforestation is one of the most cost-effective ways to combat climate change. Accepting that the figures involved seem large, he pointed out that the cost was actually less than one per cent of the money that the world spends on insurance premiums every year – “insurance that often ends up paying for the damage caused by climate change.”
As regard Jagdeo’s offer to use Guyana’s rainforest as part of the global fight against climate change, Prince Charles said, “The challenge is how we, in the developed world, respond to it.” He said if developed countries want to benefit from services provided by the rainforests “we have to start paying for them. But we cannot afford to lose this opportunity to demonstrate what can be done and to respond to the President’s remarkable offer.” Prince Charles said too there is need for market-based mechanisms to address deforestation as “Relying on Governments’ intervention alone will not be enough.” He also said financial institutions in London have the power to make the whole difference in the battle against climate change. “Now is the time for far-sighted leadership- of the kind which sets you apart from your peers and which can inspire others,” he said.
Prince Charles said that his Rainforest Project was pleased to support the study that is now underway in Guyana to “provide a truly innovative roadmap of national development that will clarify the funding required for the conservation of Guyana’s extraordinarily precious rainforests.” The Prince said there is no doubt that Guyana represents a unique opportunity to develop a model which could be rolled out across the rainforest nations.
The study is being completed by Guyanese and international experts. And, according to GINA, following receipt of initial technical analysis next month Jagdeo will make a public address to update the nation on the progress. The government will also outline more details about plans for national consultations to take place in early 2009.
GINA said too world renowned naturalist Sir David Attenborough and businessman Stanley Fink also addressed the function. The meeting was held in the Mansion House- the 18th Century residence of the Lord Mayor of London.
